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Property profile & analytics
OFF-MARKET
Estimated value
$560,000
Retail space
1559 Milwaukee Ave Chicago, IL 60622-2009
Trust Owned
22-yr Hold
~
Est. High Equity
Property ID
US28-0131691
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1907
Total area
2,700 SF
Lot
0.07 ac (2,950 SF)
APN
17-06-200-004
UPID
US28-0131691
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
-
Erik Mccann, PLLC Physician
-
Bloom Plant Based Kitchen Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$575k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$560k
Owner & transaction history
Lakeside Bank Trustee · 22 yrs held
Lakeside Bank Trustee
since 2004
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%
$625,000
6.5%
$575,000
7%
$535,000
Alternative Use
Use
Estimation
RETAIL STORES
$885,000
Current use
Blend value · Realmo final
$560k
Range $504k – $616k · ±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
$207 / 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
$20,318
Tax year 2022
Assessed value
$96,080
Assessed 2022
Previous assessed
$96,080
+0.0% YoY
Effective rate
21.15%
On assessed value
Assessed land
$14,750
Assessed improvement
$81,330
Land market value
$59,000
Improvement market value
$325,320
Total market value
$384,320
Applied tax rate
77,068.0000
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
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1907
Heating
NONE
Stories
1
Total area
2,700 SF
Lot
0.07 ac (2,950 SF)
APN
17-06-200-004
UPID
US28-0131691
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
$885,000
RETAIL STORES Current
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
1907
Heating
NONE
Stories
1
Lot
0.07 ac
Current owner
From public records · entity-resolved
Lakeside Bank Trustee
Trust
Mailing address
1756 W NEWPORT AVE, CHICAGO, IL 60657-1011
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 29, 2019
—
Trust No 10-2279
—
Deed
related
$518,546 · Lakeside Bk
May 17, 2016
—
Trust 10-2279
—
Deed
related
$500,000 · Lakeside Bk
Jan 2, 2004
$490,000
Lakeside Bank Trustee
Lasalle Bank NA Trustee
Grant Deed
related
$392,000 · Lakeside Bank
Oct 9, 1997
—
Lasalle National Bank
Lasalle National
Quit Claim Deed
related
—
—
—
Trust No 10-2279
—
Loan Modification
related
$518,546 · Lakeside Bk
—
—
Trust 10-2279
—
Deed Of Trust
related
$411,542 · Lakeside Bank
—
—
Trust 10-2279
—
Deed Of Trust
related
$86,822 · Lakeside Bank
—
—
Trust 10-2279
—
Loan Modification
related
$500,000 · Lakeside Bk
—
—
Trust 10-2279
—
Deed Of Trust
related
$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.
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