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Property profile & analytics
FOR SALE
Retail space
1455 S Michigan Ave Chicago, IL 60605
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US28-2376747
For Sale
1 / 17
$7,190,000
1455 S Michigan Ave, Chicago, IL 60605
View Listing →
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1908
Total area
20,300 SF
Lot
0.26 ac (11,270 SF)
APN
17-22-108-012
UPID
US28-2376747
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
-
Ivy Garden Learning Center South Loop High School
-
Ivy Garden Learning Center Daycare Center
-
JDS Advisors Ltd Business Management Consultant
-
Mr. David O'connell Physician
-
Deer Rehab Services International Inc Rehabilitation Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.50M
Blend (final)
Blend
$2.03M
Owner & transaction history
Mbz Holdings LLC-1455 S Michig · 11 yrs held
Mbz Holdings LLC-1455 S Michig
since 2015
7 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$2,955,000
Current use
OFFICE BUILDING
$2,735,000
Change: -7% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,430,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$2.03M
Range $1.82M – $2.23M · ±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
$100 / 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
$157,134
Tax year 2022
Assessed value
$761,581
Assessed 2022
Previous assessed
$761,581
+0.0% YoY
Effective rate
20.63%
On assessed value
Assessed land
$211,312
Assessed improvement
$550,269
Land market value
$845,248
Improvement market value
$2,201,076
Total market value
$3,046,324
Applied tax rate
76,102.0000
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
1908
Heating
NONE
Stories
2
Total area
20,300 SF
Lot
0.26 ac (11,270 SF)
APN
17-22-108-012
UPID
US28-2376747
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
$3.0M
OFFICE BUILDING
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.4M
RETAIL STORES Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
Stories
2
Lot
0.26 ac
Current owner
From public records · entity-resolved
Mbz Holdings LLC-1455 S Michig
Entity
Mailing address
2929 S HALSTED ST, CHICAGO, IL 60608-5803
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 4, 2015
$4,000,000
Mbz Holdings LLC-1455 S Michig
Michigan Avenue 27 LLC
Warranty Deed
related
$2,147,600 · Bancorp Bk
Jan 9, 2013
$2,550,000
Michigan Avenue 2 7 LLC
Henty Walter Holdings LLC
Grant Deed
—
Jul 12, 2012
—
Henry Walter Holdings LLC
1455 South Mi LLC
Warranty Deed
related
—
Nov 8, 2007
—
Jerry Parcel C LLC
Parcel C LLC
Quit Claim Deed
related
—
Mar 22, 2006
$285,000
1455 South Michigan LLC
Bonaparte Properties LLC
Grant Deed
$4,320,000 · Centier Bank
Sep 29, 2005
$100,000
Fogelson Companies INC
Bonaparte Properties LLC
Grant Deed
—
Jan 21, 2003
—
Bonaparte Properties LLC
1455 South Michigan Avenue Ent
Quit Claim Deed
related
$1,700,000 · Column Financial INC
—
—
Michigan Avenue 2 7 LLC
—
Deed Of Trust
related
$2,700,000 · Whayne Holdings LLC
—
—
Mbz Holdings LLC-1455 S Michig
—
Deed Of Trust
related
$2,208,000 · Somercor 504
—
—
1455 South Michigan Avenue
—
Deed Of Trust
related
$1,610,000 · Mb Financial Bank 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.
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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