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    Property profile & analytics

    1618 N Rockwell St Chicago, IL 60647

    • Residential income homes
    • 1,760 SF
    • 0.06 lot acres
    For Sale
    View listing
    $725,000
    Last Sale
    Jun 03, 2024
    $650,000
    Value Estimations
    Cap Rate Potential
    4.5%
    Residential income homes
    Location Intelligence
    Property ID
    US28-5748677
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Residential income homes

    Property Details for 1618 N Rockwell St

    Year built
    1876
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.06 lot acres
    Property size
    1,760 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    13-36-428-029
    APU
    1336428029

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $650,000
      ML approach
      $650,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $490,000
      6.5%
      $450,000
      7%
      $420,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $709,000
      Market price range: $375k - $714k
      AI Estimate
      $393,000
      Market price range: $243k - $394k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $535,000
      Current use
      RETAIL STORES
      $525,000
      Change: -1% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6925
    Latitude
    41.9109
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $10,284
    $12,654
    $37,346
    $50,000
    -
    $126,540
    $373,460
    $500,000

    Comparable in this City

    • Value Estimation
      $800,000
      4,225 SF

      2712 Monticello Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,225 SF
      2712 Monticello Ave, Chicago, IL 60647-7431
      View Details
    • Value Estimation
      $600,000
      2,632 SF

      2511 Monticello Ave, Unit 1

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,632 SF
      2511 Monticello Ave, Chicago, IL 60647-1113
      View Details
    • Value Estimation
      $915,000
      5,326 SF

      2214 Milwaukee Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,326 SF
      2214 Milwaukee Ave, Chicago, IL 60647-7394
      View Details
    • Value Estimation
      $895,000
      4,469 SF

      1658 Milwaukee Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,469 SF
      1658 Milwaukee Ave, Chicago, IL 60647-6905
      View Details
    • Value Estimation
      $800,000
      4,356 SF

      1917 Milwaukee Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,356 SF
      1917 Milwaukee Ave, Chicago, IL 60647-6087
      View Details
    • Value Estimation by Request
      1,426 SF

      2432 Moffat St

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,426 SF
      2432 Moffat St, Chicago, IL 60647-0466
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,605 SF

      Wicker Park Mixed-Use Property

      Mixed-use property in Wicker Park with apartments and commercial space.
      1640 N Damen Ave, Chicago, IL 60647
      View Details
    • New
      $1,299,000
      0.12 Acres

      Logan Square Gut-Rehabbed Five-Flat

      Turn-key investment opportunity near Mozart Park and the 606 Trail.
      2122 N Springfield Ave, Chicago, IL 60647
      View Details
    • $1,200,000
      0.07 Acres

      Rehabbed Logan Square Investment Property

      Mixed-use building with retail, apartment, and garage near public transit.
      2617 W Fullerton Ave, Chicago, IL 60647
      View Details
    • Contact for pricing

      Bucktown Multifamily Property for Sale

      Six-unit property in vibrant Bucktown neighborhood with value-add potential.
      2332 W Charleston St, Chicago, IL 60647
      View Details
    • $1,275,000

      Logan Square Mixed-Use Building

      Three-unit mixed-use building with established tavern in Logan Square.
      3425 W Fullerton Ave, Chicago, IL 60647
      View Details
    • $1,875,000

      New Construction 3-Unit Investment Property

      New construction 3-unit property in West Bucktown, Chicago.
      1838 N Rockwell St, Chicago, IL 60647
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Logan Square Mixed-Use Project

      Mixed-use project with retail and luxury apartment units.
      W Fullerton Ave, Chicago, IL 60647
      View Details
    • Contact for pricing

      Logan Square Mixed-Use Project

      Mixed-use project with retail and luxury apartment units.
      W Fullerton Ave, Chicago, IL 60647
      View Details
    • Contact for pricing

      Bucktown Storefront on Damen Avenue

      Prime retail space in Bucktown, steps from the 606 trail.
      1840 N Damen Ave, Chicago, IL 60647
      View Details
    • Contact for pricing
      2,208 SF

      Bucktown-Wicker Park Commercial Space

      Prime location near The 606 Trail, ideal for various businesses.
      1893 N Milwaukee Ave, Chicago, IL 60647
      View Details
    • Contact for pricing
      3,751 SF

      Logan Square Commercial Space Available

      Turnkey commercial space in a vibrant, high-traffic location.
      3279 W Armitage Ave, Chicago, IL 60647
      View Details
    • Contact for pricing

      Logan Square Retail Center Space

      Retail and restaurant spaces available in Logan Square shopping center.
      2800 W Armitage Ave, Chicago, IL 60647
      View Details
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    1618 N Rockwell St
    Chicago, IL 60647
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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