New search
Property profile & analytics
FOR LEASE
Residential income homes
1577 Ellinwood Ave, Des Plaines, IL 60016
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US28-2601393
For Lease
1 / 6
$25 SF/Yr
1577 Ellinwood Ave, Des Plaines, IL 60016
View Listing →
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1939
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,288 SF
Lot
0.25 ac (11,100 SF)
APN
09-17-421-026
UPID
US28-2601393
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
$905k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.02M
Blend (final)
Blend
$860k
Owner & transaction history
1575 Ellinwood LLC · 3 yrs held
1575 Ellinwood LLC
since 2023
Last sale
$762,500
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 Des Plaines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Des Plaines 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
$850,000
ML approach
$905,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$860k
Range $774k – $946k · ±10% · vs last sale $763k (Feb 2 2023)
Last sale anchor
$763k
Feb 2 2023
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
$76 / 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
$23,673
Tax year 2022
Assessed value
$92,000
Assessed 2022
Previous assessed
$92,000
+0.0% YoY
Effective rate
25.73%
On assessed value
Assessed land
$8,880
Assessed improvement
$83,120
Land market value
$88,800
Improvement market value
$831,200
Total market value
$920,000
Applied tax rate
22,017.0000
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
For Lease
Year built
1939
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
CENTRAL
Stories
2
Units
3
Bathrooms
5
Total area
11,288 SF
Lot
0.25 ac (11,100 SF)
APN
09-17-421-026
UPID
US28-2601393
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
1939
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
2
Units
3
Bathrooms
5
Lot
0.25 ac
Current owner
From public records · entity-resolved
1575 Ellinwood LLC
Entity
Mailing address
1575 ELLINWOOD AVE, DES PLAINES, IL 60016-4570
Ownership since
2023
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
Feb 2, 2023
$762,500
1575 Ellinwood LLC
Firewater Des Plaines LLC
Warranty Deed
$571,875 · Algonquin State Bank NA
Oct 1, 2018
$750,000
Firewater Des Plaines LLC
Romano,thomas J
Warranty Deed
$200,000 · Thomas J Romano
May 24, 2013
$761,000
Thomas J Romano
Ferrazuolo,antonio & Gina M
Deed In Lieu Of Foreclosure
—
Jul 26, 2010
—
Antonio Ferrazzuolo
—
Trustees Deed
related
$761,000 · Pestine Harvey Trust
Nov 16, 2006
$645,000
Antonio Ferrazzuolo
Trust 1575
Grant Deed
$650,000 · Thomas J Romano
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?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
