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Property profile & analytics
OFF-MARKET
Estimated value
$9,930,000
Grocery and convenience stores
1400 47th St Chicago, IL 60609-3232
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US28-1058965
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1947
Total area
53,200 SF
Lot
3.61 ac (157,252 SF)
APN
20-05-310-003
UPID
US28-1058965
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Dunkin' Donuts Baskin Robbins Grocery & Convenience Store Specialty Food Shop
-
Beggars Pizza - Kenwood Restaurant
-
Vigo Bank Credit Union
-
Eyebrow Threading Studio Hair Salon Nail Salon
-
Shiny beauty Supply (Bike/Boat/Book/etc) Store Cosmetic Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$11.33M
Comparable Approach
Comparable
$8.47M
Blend (final)
Blend
$9.93M
Owner & transaction history
Bishop Plaza II LLC
Bishop Plaza II LLC
since 2026
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$12.7M
+26.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Chicago submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chicago submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$12,265,000
6.5%
$11,325,000
7%
$10,515,000
Alternative Use
Use
Estimation
RETAIL STORES
$10,050,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$12,720,000
Change: +27% · Conversion: Moderate
Blend value · Realmo final
$9.93M
Range $8.94M – $10.92M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$187 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$417,786
Tax year 2022
Assessed value
$1,713,179
Assessed 2022
Previous assessed
$1,713,179
+0.0% YoY
Effective rate
24.39%
On assessed value
Assessed land
$353,657
Assessed improvement
$1,359,522
Land market value
$1,414,628
Improvement market value
$5,438,088
Total market value
$6,852,716
Applied tax rate
72,095.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1947
Heating
NONE
Stories
1
Total area
53,200 SF
Lot
3.61 ac (157,252 SF)
APN
20-05-310-003
UPID
US28-1058965
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$10.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$12.7M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1947
Heating
NONE
Stories
1
Lot
3.61 ac
Current owner
From public records · entity-resolved
Bishop Plaza II LLC
Entity
Mailing address
200 N LA SALLE ST STE #2350, CHICAGO, IL 60601-1044
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2026
$11,500,000
Bishop Plaza II LLC
Bishop Plaza LLC
Special Warranty Deed
related
$7,500,000 · Trust Bank
Jul 29, 2025
—
Burlington Coat Factory Of Texas In
Bishop Plaza LLC
Deed
—
Mar 19, 2002
$1,420,000
47th & Bishop LLC
Jetco Properties INC
Grant Deed
$400,000 · Bank One NA
—
—
47th & Bishop LLC
—
Deed Of Trust
related
$400,000 · Bank One NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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