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Property profile & analytics
OFF-MARKET
Estimated value
$1,900,000
Retail space
1420 Michigan Ave, Chicago, IL 60605-2811
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US28-5043472
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1908
Total area
4,950 SF
Lot
0.1 ac (4,275 SF)
APN
17-22-107-028
UPID
US28-5043472
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
-
Art + Legend Marketing & Advertising Advertising Agency
-
iF Charities Charitable Organization
-
Ask The Doctor Physician
-
Israel Idonije Foundation Charitable Organization Social Service Agency
-
ParkChicago #910704 Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.90M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.90M
Owner & transaction history
1736 Michigan LLC · 1 yrs held
1736 Michigan LLC
since 2024
Last sale
$1.9M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.2M
+199.1%
Neighborhood: shopping center
$1.2M
+64.3%
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
$1,900,000
ML approach
$1,900,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,155,000
Change: +199% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,185,000
Change: +64% · Conversion: Moderate
Blend value · Realmo final
$1.90M
Range $1.71M – $2.09M · ±10% · vs last sale $1.90M (Aug 20 2024)
Last sale anchor
$1.90M
Aug 20 2024
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
$384 / 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
$40,040
Tax year 2022
Assessed value
$194,062
Assessed 2022
Previous assessed
$194,062
+0.0% YoY
Effective rate
20.63%
On assessed value
Assessed land
$80,156
Assessed improvement
$113,906
Land market value
$320,624
Improvement market value
$455,624
Total market value
$776,248
Applied tax rate
76,101.0000
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
1908
Heating
NONE
Cooling
CENTRAL
Stories
2
Bathrooms
4
Total area
4,950 SF
Lot
0.1 ac (4,275 SF)
APN
17-22-107-028
UPID
US28-5043472
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
COMMERCIAL (GENERAL)
Est. value
$2.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
COMMERCIAL (GENERAL)
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
1908
Heating
NONE
Cooling
Yes
Stories
2
Bathrooms
4
Lot
0.1 ac
Current owner
From public records · entity-resolved
1736 Michigan LLC
Entity
Mailing address
1420 S MICHIGAN AVE, CHICAGO, IL 60605-2811
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
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
Aug 20, 2024
$1,900,000
1736 Michigan LLC
Steinmetz Investments LLC
Special Warranty Deed
$1,235,000 · Byline Bank
Mar 7, 2017
—
1420 South Michigan LLC
—
Deed
related
$2,560,000 · Beverly Bk
Aug 16, 2006
—
1420 South Michigan LLC
—
Trustees Deed
related
$100,000 · Beverly Bank & Trust Co NA
Sep 19, 2005
—
1420 South Michigan LLC
Omalley,paul E
Quit Claim Deed
related
$1,350,000 · Beverly Bk
Sep 7, 2004
$1,220,000
Paul E O'malley
Archer,thomas R & Kimberly L
Warranty Deed
$915,000 · Washington Mutual Fsb
Jun 19, 2000
$995,000
Kimberly L Archer
James Caulfield Ltd
Grant Deed
$630,000 · Prism Mortgage Co
—
—
1420 South Mi LLC
—
Deed Of Trust
related
$185,465 · Beverly Bank & Trust Co NA
—
—
1420 South Michigan LLC
—
Deed Of Trust
related
$1,161,981 · Beverly Bank & Trust Co NA
—
—
1420 South Mi LLC
—
Deed Of Trust
related
$1,227,080 · Beverly Bank & Trust Co NA
—
—
1420 South Michigan LLC
—
Deed Of Trust
related
$66,623 · Beverly Bank & Trust Co NA
—
—
Thomas R Archer
—
Deed Of Trust
related
$630,000 · Bank Of America
—
—
1420 South Michigan LLC
—
Loan Modification
related
$2,250,000 · Beverly Bk
—
—
1420 South Michigan LLC
—
Loan Modification
related
$2,560,000 · Beverly Bk
—
—
Thomas R Archer
—
Deed Of Trust
related
$100,000 · North Shore Community Bank
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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