Trust Owned 
For Sale
1 / 10
$6,950,000
1375 W Lake St, Chicago, IL 60607
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Property summary
AI-generated overview
The property at 1375 W Lake Street in Chicago is a redevelopment site totaling approximately 23,000 square feet. It has historically been used as Bottom Lounge, an approximately 18,000-square-foot hospitality venue built around live music, with a full-service restaurant kitchen and a bar and restaurant space. The facility includes a second-floor catering space and a large outdoor deck, and it offers on-site parking for approximately 25 cars. The site is zoned C1-3 and is located within the “Downtown Expansion-West” area as well as a Transit Oriented Development (TOD) zone, both of which are associated with increased density and parking relief for vertical multi-family development. The property is situated in an area characterized by numerous recent and planned high-rise residential, mixed-use, office, life science, and hotel projects.
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1920
Total area
38,100 SF
Lot
0.32 ac (14,072 SF)
APN
17-08-324-003
UPID
US28-1634326
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Music Venue Bar & Pub
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$870k
Owner & transaction history
since 2006
7 recorded transactions
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 4 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$870k
Value range
$783k – $957k
±10% around blend
Estimated value / SF
$23 / SF
Confidence
Low
4 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
40
$783k
blend $870k
$957k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
38,100 SF
Lot area
0.32 ac
Year built
1920
Stories
2
APN
17-08-324-003
Assessed value
$588,413
Annual tax
$121,439
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$10.25M
Weighted, 4 comps · low confidence
Evidence
4 found · 4 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
2.9 mi away · 28,200 SF
4.1 mi away · 34,000 SF
7.0 mi away · 27,000 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$870k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 32 sales
$626
-96%
Submarket 2181 sales
$146
-84%
County 2350 sales
$149
-85%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $23/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 4 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$588k
Move the market yield to see immediate price impact.
Value / SF
$15
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$37k
$741k
$530k
$412k
$41k
$824k
$588k
$458k
$45k
$906k
$647k
$503k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
4 found
Low confidence · county-verified
Closest comparable
$5.50M
1.4 mi · Feb 2026 · $196/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$121,439
Tax year 2022
Assessed value
$588,413
Assessed 2022
Previous assessed
$588,413
+0.0% YoY
Effective rate
20.64%
On assessed value
Assessed land
$123,130
Assessed improvement
$465,283
Land market value
$492,520
Improvement market value
$1,861,132
Total market value
$2,353,652
Applied tax rate
77,106.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Status
For Sale
Year built
1920
Heating
NONE
Stories
2
Total area
38,100 SF
Lot
0.32 ac (14,072 SF)
APN
17-08-324-003
UPID
US28-1634326
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Building & site characteristics
From public records
Year built
1920
Heating
NONE
Stories
2
Lot
0.32 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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