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    Property profile & analytics

    1306 Milwaukee Ave Chicago, IL 60622

    • Retail residential properties
    • 9,300 SF
    • 0.06 lot acres
    OFF-MARKET
    Value Estimations
    $460,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2364728
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail residential properties

    Property Details for 1306 Milwaukee Ave

    Year built
    1893
    Lot size
    0.06 lot acres
    Property size
    9,300 SF
    Property type
    Retail residential properties
    APN
    17-06-231-010
    APU
    1706231010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $445,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $659,000
      Market price range: $391k - $2.17M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6699
    Latitude
    41.9053
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $27,865
    $5,000
    $126,768
    $131,768
    -
    $50,000
    $1,267,680
    $1,317,680

    Comparable in this City

    • Value Estimation by Request

      1635 Cortland St

      STORES & APARTMENTS
      1635 Cortland St, Chicago, IL 60622-1122
      View Details
    • Value Estimation
      $380,000
      0.11 Acres

      1639 Hubbard St, Unit 47

      STORES & APARTMENTS • 0.11 Acres
      1639 Hubbard St, Chicago, IL 60622-6353
      View Details
    • Value Estimation
      $490,000
      13,392 SF

      1351 Milwaukee Ave

      STORES & APARTMENTS • 13,392 SF
      1351 Milwaukee Ave, Chicago, IL 60622-9151
      View Details
    • Value Estimation
      $350,000
      6,192 SF

      2158 Chicago Ave

      STORES & APARTMENTS • 6,192 SF
      2158 Chicago Ave, Chicago, IL 60622-5257
      View Details
    • Value Estimation
      $345,000
      3,354 SF

      2152 Chicago Ave, Unit 58

      STORES & APARTMENTS • 3,354 SF
      2152 Chicago Ave, Chicago, IL 60622-5256
      View Details
    • Value Estimation
      $520,000
      10,564 SF

      1821 Chicago Ave

      STORES & APARTMENTS • 10,564 SF
      1821 Chicago Ave, Chicago, IL 60622-7673
      View Details

    Similar Nearby for Sale

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      Mixed-Use Building Near Humboldt Park

      Mixed-use building with retail/office space and residential unit.
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    • Contact for pricing
      36,000 SF

      Wicker Park Mixed-Use Building

      36,000 SF, prime location, vacant retail.
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      Ashland Ave Mixed-Use Investment

      Prime Chicago location, high potential.
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      Division Street Mixed-Use Building

      Mixed-use building with retail/office space near Humboldt Park.
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    • $225,000
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      Mixed-Use Building on Western Avenue

      Two-story mixed-use building with retail and residential components.
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    • $1,599,000
      7,350 SF

      Wicker Park Mixed-Use Building

      Three-unit mixed-use building in the heart of Wicker Park.
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    Similar Nearby for Lease

    • $30 SF/Yr

      Wicker Park Retail Space Available

      Renovated retail space with basement storage and high foot traffic.
      1524 N Ashland Ave, Chicago, IL 60622
      View Details
    • Contact for pricing
      36,000 SF

      Prime Wicker Park Retail Space

      36,000 SF Mixed-Use Building For Lease
      1542-1550 Milwaukee Ave, Chicago, IL 60622
      View Details
    • $30 SF/Yr

      Wicker Park Live/Work Retail Space

      Renovated retail space with basement storage and live/work potential.
      1524 N Ashland Ave, Chicago, IL 60622
      View Details
    • $30 SF/Yr
      1,800 SF

      West Town Medical Office Building

      8 Exam Rooms, 1800 SF, High-Income Area
      1810 Chicago Ave, Chicago, IL 60622
      View Details
    • $30 SF/Yr
      1,207 SF

      Wicker Park Office/Retail Space

      1207 SF Retail, Parking, Basement Storage
      1524 Ashland Ave, Chicago, IL 60622
      View Details
    • $20 SF/Yr
      1,900 SF

      Humboldt Park Executive Office Space

      1,900 SF Retail/Office, High Visibility
      2816 Chicago Ave, Chicago, IL 60622
      View Details

    Property Visit Statistics

    • Visits by month
      6.2k
    • Visitors by month
      6.5k
    • Avg Time on site
      29 min
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    1306 Milwaukee Ave
    Chicago, IL 60622
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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