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    Property profile & analytics

    1420 Michigan Ave Chicago, IL 60605-2811

    • Retail space
    • 4,950 SF
    • 0.10 lot acres
    OFF-MARKET
    Value Estimation
    $1,890,000
    Last Sale
    Aug 20, 2024
    $1,900,000
    Location Intelligence
    Property ID
    US28-5043472
    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

    • Art + Legend / Advertising Agency / Graphic Designer
    • iF Charities / Charity
    • Ask The Doctor / Health Consultant / Medical Center
    • Israel Idonije Foundation / Non-Profit Organization
    • ParkChicago #910704 / Public Parking Space

    Property Details for 1420 Michigan Ave

    Year built
    1908
    Lot size
    0.10 lot acres
    Property size
    4,950 SF
    Property type
    Retail space
    Property subtype
    Storefront properties
    APN
    17-22-107-028
    APU
    1722107028

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $1,900,000

    • CAP approach

      CAP return
      Estimation
      6%
      $1,730,000
      6.5%
      $1,805,000
      7%
      $1,970,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $1,985,000
      Geo Method
      $1,585,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $1,945,000
      Retail
      $2,190,000
      Mixed-Use
      $1,835,000
      Hospitality
      $1,930,000
      Educational
      $1,855,000
      Residential Income
      $1,940,000
      Energy
      $1,865,000
      Income-Based Land
      $1,615,000
      Food Service
      $1,910,000

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6245
    Latitude
    41.8634
    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
    $40,040
    $80,156
    $113,906
    $194,062
    -
    $320,624
    $455,624
    $776,248

    Comparable in this City

    • Value Estimation by Request
      0.04 Acres

      742 Dearborn St

      STORE, RETAIL OUTLET • 0.04 Acres
      742 Dearborn St, Chicago, IL 60605
      View Details
    • Value Estimation
      $295,000
      22,800 SF

      1469 Michigan Ave

      STORE, RETAIL OUTLET • 22,800 SF
      1469 Michigan Ave, Chicago, IL 60605
      View Details
    • Value Estimation
      $655,000
      17,900 SF

      400 Clark St

      STORE, RETAIL OUTLET • 17,900 SF
      400 Clark St, Chicago, IL 60605-1022
      View Details
    • Value Estimation
      $665,000
      11,000 SF

      515 Dearborn St

      STORE, RETAIL OUTLET • 11,000 SF
      515 Dearborn St, Chicago, IL 60605
      View Details
    • Value Estimation by Request
      17,500 SF

      738 Dearborn St

      STORE, RETAIL OUTLET • 17,500 SF
      738 Dearborn St, Chicago, IL 60605
      View Details
    • Value Estimation
      $765,000
      35,500 SF

      1329 State St

      STORE, RETAIL OUTLET • 35,500 SF
      1329 State St, Chicago, IL 60605
      View Details

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    1420 Michigan Ave
    Chicago, IL 60605-2811
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    Realmo Value Estimation

    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.

    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.

    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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