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Property profile & analytics
OFF-MARKET
Estimated value
$2,395,000
Commercial real estate
1541 Riverboat Ctr Dr, Joliet, IL 60431-9341
Entity Owned
~
Est. High Equity
Property ID
US28-0440050
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
18,495 SF
Lot
3.01 ac (131,116 SF)
APN
05-06-23-402-009
UPID
US28-0440050
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
-
Advanced Urology Associates Medical Clinic Physician
-
Ryan G Manecke M.D. Physician Medical Clinic
-
Dr. Ryan Manecke Physician Medical Clinic
-
Peter Tek Physician Medical Clinic
-
Gregory Lewis Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.49M
Blend (final)
Blend
$2.40M
Owner & transaction history
Mmof IV Joliet II LLC
Mmof IV Joliet II LLC
since 2025
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 Joliet submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Joliet 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
Blend value · Realmo final
$2.40M
Range $2.16M – $2.63M · ±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
$129 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$129,388
Tax year 2023
Assessed value
$1,411,726
Assessed 2023
Previous assessed
$1,411,726
+0.0% YoY
Effective rate
9.17%
On assessed value
Assessed land
$236,071
Assessed improvement
$1,175,655
Land market value
$708,213
Improvement market value
$3,526,965
Total market value
$4,235,178
Applied tax rate
520.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
RADIANT
Total area
18,495 SF
Lot
3.01 ac (131,116 SF)
APN
05-06-23-402-009
UPID
US28-0440050
Jurisdiction
WILL
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
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
RADIANT
Lot
3.01 ac
Current owner
From public records · entity-resolved
Mmof IV Joliet II LLC
Entity
Mailing address
1541 RIVERBOAT CTR DR, JOLIET, IL 60431-9341
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 10, 2025
$6,550,000
Mmof IV Joliet II LLC
1541 Riverboat Drive LLC
Special Warranty Deed
$12,040,000 · Wintrust Bank NA
Apr 5, 2018
—
1541 Riverboat Ctr Drive LLC
—
Deed
related
$4,000,000 · First Midwest Bk/deerfield
Jan 16, 2009
$1,950,000
1541 Riverboat Ctr Drive LLC
Conrad R J JR Trust
Warranty Deed
$1,657,000 · First Community Bank
Jun 19, 2006
—
Conrad Raymond J JR Trust
—
Grant Deed
related
$8,000,000 · First Community Bank
Apr 14, 2005
$445,113
Patrick R Conrad
Conrad,amy K
Quit Claim Deed
related
—
—
—
1541 Riverboat Ctr Drive LLC
—
Deed Of Trust
related
$4,708,100 · First Community Bank
—
—
1541 Riverboat Ctr Drive LLC
—
Deed Of Trust
related
$3,348,685 · Standard Bank & Trust
—
—
1541 Riverboat Ctr Drive LLC
—
Loan Modification
related
$4,000,000 · First Midwest Bk/deerfield
—
—
1541 Riverboat Ctr Drive LLC
—
Deed Of Trust
related
$5,003,100 · First Community Bank
—
—
1541 Riverboat Ctr Drive LLC
—
Deed Of Trust
related
$2,057,000 · First Community Bank
—
—
1541 Riverboat Ctr Drive LLC
—
Deed Of Trust
related
$1,270,000 · Small Business Growth Corp
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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