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Property profile & analytics
OFF-MARKET
Estimated value
$7,760,000
Office buildings
1601 Sherman Ave Evanston, IL 60201-3710
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US28-0104457
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1942
Total area
39,018 SF
Lot
0.16 ac (7,054 SF)
APN
11-18-305-003
UPID
US28-0104457
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
-
Jeffrey N. Muskovin, LMT Alternative Medicine Practice Spa & Massage Center
-
Fountain Square Park
-
Niki Guy Hair Salon
-
Robert Krueger Dental Office
-
Dr. media M. noora, DDS Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.91M
CAP Approach
CAP
$8.83M
Comparable Approach
Comparable
$6.81M
Blend (final)
Blend
$7.76M
Owner & transaction history
Trivial Pursuit LLC · 5 yrs held
Trivial Pursuit LLC
since 2021
Last sale
$6.5M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$9.3M
+78.1%
Neighborhood: shopping center
$8.6M
+64.0%
Retail stores
$5.8M
+11.5%
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 Evanston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Evanston 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
$9,010,000
ML approach
$8,905,000
CAP Approach
CAP Return
Estimation
6%
$9,565,000
6.5%
$8,830,000
7%
$8,200,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,215,000
Current use
APARTMENT HOUSE (5+ UNITS)
$9,290,000
Change: +78% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$8,555,000
Change: +64% · Conversion: Difficult
RETAIL STORES
$5,815,000
Change: +12% · Conversion: Moderate
AUTO REPAIR, GARAGE
$4,730,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$7.76M
Range $6.98M – $8.54M · ±10% · vs last sale $6.50M (Jan 4 2021)
Last sale anchor
$6.50M
Jan 4 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
$199 / 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
$242,809
Tax year 2022
Assessed value
$1,028,591
Assessed 2022
Previous assessed
$773,839
+32.9% YoY
Effective rate
23.61%
On assessed value
Assessed land
$88,175
Assessed improvement
$940,416
Land market value
$352,700
Improvement market value
$3,761,664
Total market value
$4,114,364
Applied tax rate
17,062.0000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1942
Heating
NONE
Stories
6
Total area
39,018 SF
Lot
0.16 ac (7,054 SF)
APN
11-18-305-003
UPID
US28-0104457
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
OFFICE BUILDING Current
Est. value
$5.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$9.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.6M
RETAIL STORES
Est. value
$5.8M
AUTO REPAIR, GARAGE
Est. value
$4.7M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
AUTO REPAIR, GARAGE
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
1942
Heating
NONE
Stories
6
Lot
0.16 ac
Current owner
From public records · entity-resolved
Trivial Pursuit LLC
Entity
Mailing address
1001 GRN BAY RD #317, WINNETKA, IL 60093-1721
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
17 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 27, 2022
—
Trivial Pursuit LLC
—
Deed
related
$12,190,000 · The Northern Trust Co
Jan 4, 2021
$6,500,000
Trivial Pursuit LLC
Fountain Square Bldg LLC
Warranty Deed
—
Dec 31, 2018
—
Fountain Square Building LLC
—
Deed
related
$2,500,000 · Belmont Bk&tr
Dec 28, 2018
—
Fountain Square Bndg LLC
—
Deed
related
$4,230,000 · Belmont Bk&tr
Oct 5, 2018
—
Fountain Square Building LLC
—
Deed
related
$944,000 · Wintrust Bk
Jan 9, 2018
—
Theodore Mavrakis
—
Trustees Deed
related
$100,000 · Mandell Menkes LLC
Aug 12, 2016
—
Theodore Mavrakis
—
Deed
related
$60,000 · Condon & Cook LLC
Apr 20, 2016
—
Fountain Square Building LLC
—
Trustees Deed
related
$5,000,000 · Wintrust Bk
Jan 21, 2004
$5,375,000
Fountain Square Building LLC
Cole Taylor Bank Trustee
Grant Deed
$369,000 · Fountain Square LLC
Jan 21, 2004
—
Fountain Square Building LLC
—
Deed Of Trust
related
$3,925,000 · Mb Financial Bank NA
—
—
Fountain Square Building LLC
—
Loan Modification
related
$944,000 · Wintrust Bk
—
—
Fountain Square Building LLC
—
Loan Modification
related
$944,000 · Wintrust Bk
—
—
Theodore Mavrakis
—
Deed Of Trust
related
$60,000 · Condon & Cook LLC
—
—
Fountain Square Bndg LLC
—
Loan Modification
related
$4,230,000 · Belmont Bk&tr
—
—
Fountain Square Bldg LLC
—
Deed Of Trust
related
$382,000 · Mb Financial Bank NA
—
—
Fountain Square Bldg LLC
—
Deed Of Trust
related
$4,307,000 · Mb Financial Bank NA
—
—
Fountain Square Building LLC
—
Loan Modification
related
$2,500,000 · Belmont Bk&tr
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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