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Property profile & analytics
OFF-MARKET
Estimated value
$29,335,000
Theaters & concert halls
1463 Webster Ave, Chicago, IL 60614-3049
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US28-2481908
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
1988
Total area
100,400 SF
Lot
0.07 ac (3,200 SF)
APN
14-32-121-004
UPID
US28-2481908
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$29.34M
Owner & transaction history
Novak Webster Place LLC · 4 yrs held
Novak Webster Place LLC
since 2021
Last sale
$29.3M
5 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
$29,500,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$29.34M
Range $26.40M – $32.27M · ±10% · vs last sale $29.25M (Dec 30 2021)
Last sale anchor
$29.25M
Dec 30 2021
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
$292 / 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
$22,916
Tax year 2022
Assessed value
$111,413
Assessed 2022
Previous assessed
$111,413
+0.0% YoY
Effective rate
20.57%
On assessed value
Assessed land
$64,000
Assessed improvement
$47,413
Land market value
$256,000
Improvement market value
$189,652
Total market value
$445,652
Applied tax rate
74,001.0000
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
1988
Heating
NONE
Stories
2
Total area
100,400 SF
Lot
0.07 ac (3,200 SF)
APN
14-32-121-004
UPID
US28-2481908
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
Building & site characteristics
From public records
Year built
1988
Heating
NONE
Stories
2
Lot
0.07 ac
Current owner
From public records · entity-resolved
Novak Webster Place LLC
Entity
Mailing address
3423 N DRAKE AVE, CHICAGO, IL 60618-5449
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 15, 2023
—
Novak Webster Place LLC
—
Deed
related
$38,000,000 · Hinsdale Bank & Trust Co
Dec 30, 2021
$29,250,000
Novak Webster Place LLC
Ramco Webster Place LLC
Special Warranty Deed
$14,625,000 · Hinsdale Bank & Trust Co
Feb 23, 2017
$52,675,000
Ramco Webster Place LLC
Trust 8002368233
Grant Deed
—
Jul 9, 2015
—
Trust 8002368233
Webster Place Sec Investors Ll
Quit Claim Deed
related
$35,000,000 · First Midwest Bk
Dec 2, 1997
—
American Nat'l Bk & Tr Co Ttee
—
Deed Of Trust
related
$5,500,000 · American Nat'l Bk & Tr Chicago
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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