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Property profile & analytics
OFF-MARKET
Estimated value
$10,765,000
Retail space
1400 Dayton St Chicago, IL 60642-2602
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US28-2274738
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1947
Total area
29,800 SF
Lot
0.51 ac (22,050 SF)
APN
17-05-222-001
UPID
US28-2274738
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.02M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.05M
Blend (final)
Blend
$10.77M
Owner & transaction history
821 W Eastman LLC · 1 yrs held
821 W Eastman LLC
since 2025
Last sale
$11.5M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$13.0M
+62.2%
Industrial (general)
$10.0M
+24.9%
Apartment house (5+ units)
$8.9M
+11.2%
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
$14,165,000
ML approach
$10,015,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$7,995,000
Current use
COMMERCIAL (GENERAL)
$12,975,000
Change: +62% · Conversion: Easy
INDUSTRIAL (GENERAL)
$9,990,000
Change: +25% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$8,895,000
Change: +11% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$7,125,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$10.77M
Range $9.69M – $11.84M · ±10% · vs last sale $11.50M (Mar 12 2025)
Last sale anchor
$11.50M
Mar 12 2025
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
$361 / 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
$246,819
Tax year 2022
Assessed value
$1,200,000
Assessed 2022
Previous assessed
$1,200,000
+0.0% YoY
Effective rate
20.57%
On assessed value
Assessed land
$413,437
Assessed improvement
$786,563
Land market value
$1,653,748
Improvement market value
$3,146,252
Total market value
$4,800,000
Applied tax rate
74,026.0000
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
Retail space
Use group
STORE, RETAIL OUTLET
Status
Off-Market
Year built
1947
Heating
NONE
Stories
2
Total area
29,800 SF
Lot
0.51 ac (22,050 SF)
APN
17-05-222-001
UPID
US28-2274738
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
$8.0M
COMMERCIAL (GENERAL)
Est. value
$13.0M
INDUSTRIAL (GENERAL)
Est. value
$10.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.1M
RETAIL STORES Current
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
2
Lot
0.51 ac
Current owner
From public records · entity-resolved
821 W Eastman LLC
Entity
Mailing address
828 NORTHWOODS RD, DEERFIELD, IL 60015-2219
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 12, 2025
$11,500,000
821 W Eastman LLC
Waltenburg Holdings LLC
Special Warranty Deed
$7,750,000 · Waltenburg Holdings LLC
Dec 31, 2019
—
Waltenburg Holdings LLC
—
Loan Modification
related
$5,063,101 · Busey Bk
Oct 3, 2017
—
Waltenburg Holdings LLC
—
Deed
related
$1,450,000 · Busey Bk
Mar 27, 2017
—
Waltenburg Holdings LLC
—
Deed
related
$250,000 · Busey Bank
Mar 21, 2017
—
Waltenburg Holdings LLC
—
Deed
related
$600,000 · Busey Bank
Jan 19, 2010
—
Waltenburg Holdings LLC
1433 Dayton LLC
Warranty Deed
related
$3,013,000 · Tcf National Bank
Nov 7, 2006
$2,700,000
1433 Dayton LLC
Trust 78-1304
Grant Deed
$2,500,000 · First Eagle National Bank
—
—
1433 Dayton LLC
—
Deed Of Trust
related
$3,769,859 · First Eagle Bank
—
—
Waltenburg Holdings LLC
—
Deed Of Trust
related
$2,619,355 · Busey Bk
—
—
Waltenburg Holdings LLC
—
Deed Of Trust
related
$4,163,101 · Busey Bk
—
—
Cole Taylor Bank Trustee
—
Deed Of Trust
related
$750,000 · Corus Bank NA
—
—
Waltenburg Holdings LLC
—
Deed Of Trust
related
$600,000 · Busey Bk
—
—
Waltenburg Holdings LLC
—
Deed Of Trust
related
$500,000 · Busey Bk
—
—
Waltenburg Holdings LLC
—
Loan Modification
related
$1,450,000 · Busey Bk
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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