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Property profile & analytics
FOR SALE
Retail space
159 W Kinzie St, Chicago, IL 60654
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US28-1196814
For Sale
1 / 73
$4,695,000
159 W Kinzie St, Chicago, IL 60654
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Property summary
AI-generated overview
This exceptional Chicago property, located at 159 W Kinzie St, presents a compelling value-add investment opportunity. The 23,500 square foot building sits on a 6,600 square foot lot and offers a versatile layout suitable for various uses, including bar, executive office, and creative office spaces. Currently vacant, this five-story structure, built in 1907, is zoned DC-12, providing flexibility for adaptive reuse. Its prime location in the heart of River North, within walking distance of the Merchandise Mart and public transportation (Brown, Purple, and L lines), offers unparalleled access to Chicago's central business district and its vibrant amenities. The property benefits from a strategic position near the Chicago River, surrounded by restaurants, bars, and residential buildings. Significant value-add potential exists, highlighted by the presence of loading docks and full-depth basements, allowing for creative expansion and modernization. The asking price is $5,695,000. This property represents a rare chance to acquire a substantial mixed-use building in one of Chicago's most sought-after neighborhoods. The APN is 17-09-404-005-0000
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1906
Total area
18,400 SF
Lot
0.04 ac (1,625 SF)
APN
17-09-404-005
UPID
US28-1196814
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
$640k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$607k
Blend (final)
Blend
$840k
Owner & transaction history
159 W Kinzie LLC · 11 yrs held
159 W Kinzie LLC
since 2014
2 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
$640,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$840k
Range $756k – $924k · ±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
$46 / 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
$60,589
Tax year 2022
Assessed value
$294,576
Assessed 2022
Previous assessed
$248,861
+18.4% YoY
Effective rate
20.57%
On assessed value
Assessed land
$111,718
Assessed improvement
$182,858
Land market value
$446,872
Improvement market value
$731,432
Total market value
$1,178,304
Applied tax rate
74,004.0000
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
1906
Heating
NONE
Stories
5
Total area
18,400 SF
Lot
0.04 ac (1,625 SF)
APN
17-09-404-005
UPID
US28-1196814
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
1906
Heating
NONE
Stories
5
Lot
0.04 ac
Current owner
From public records · entity-resolved
159 W Kinzie LLC
Entity
Mailing address
20 W KINZIE ST STE #1400, CHICAGO, IL 60654-5837
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 7, 2014
$5,100,000
159 W Kinzie LLC
Trust 5265
Grant Deed
$8,633,170 · Jp Morgan Chase Bk
Jun 9, 1999
—
Amalgamated Bank Chicago Ttee
—
Deed Of Trust
related
$2,000,000 · Plaza 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.
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