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Property profile & analytics
FOR SALE
Retail space
1422 W Chicago Ave Chicago, IL 60642
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US28-1550569
For Sale
1 / 2
$1,975,000
1422 W Chicago Ave, Chicago, IL 60642
View Listing →
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1917
Total area
8,300 SF
Lot
0.09 ac (4,000 SF)
APN
17-05-324-042
UPID
US28-1550569
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
by Request
CAP Approach
CAP
$1.77M
Comparable Approach
Comparable
$865k
Blend (final)
Blend
$1.39M
Owner & transaction history
1424 W Chicago LLC · 21 yrs held
1424 W Chicago LLC
since 2005
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$1,915,000
6.5%
$1,765,000
7%
$1,640,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,225,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,985,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$1.39M
Range $1.25M – $1.52M · ±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
$167 / 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
$66,168
Tax year 2022
Assessed value
$308,963
Assessed 2022
Previous assessed
$308,963
+0.0% YoY
Effective rate
21.42%
On assessed value
Assessed land
$20,000
Assessed improvement
$288,963
Land market value
$80,000
Improvement market value
$1,155,852
Total market value
$1,235,852
Applied tax rate
77,062.0000
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
For Sale
Year built
1917
Heating
NONE
Stories
2
Total area
8,300 SF
Lot
0.09 ac (4,000 SF)
APN
17-05-324-042
UPID
US28-1550569
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
$2.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.0M
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
1917
Heating
NONE
Stories
2
Lot
0.09 ac
Current owner
From public records · entity-resolved
1424 W Chicago LLC
Entity
Mailing address
1460 W CHICAGO AVE APT #300, CHICAGO, IL 60642-5235
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 18, 2018
—
1424 W Chicago LLC
—
Deed
related
—
Feb 9, 2005
$400,000
1424 W Chicago LLC
Trust 119472
Grant Deed
$800,000 · North Community Bank
—
—
1424 W Chicago LLC
—
Deed Of Trust
related
$150,000 · North Community Bank
—
—
1424 W Chicago LLC
—
Loan Modification
related
—
—
—
1424 W Chicago LLC
—
Loan Modification
related
—
—
—
1424 W Chicago LLC
—
Deed Of Trust
related
$1,100,000 · Lakeside 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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