Individually Owned
No photos on file
For Sale
$1,050,000
1624 N Oakley Ave, Chicago, IL 60647
View Listing →
Property summary
AI-generated overview
A legal four-unit brick multifamily building located in Wicker Park, Chicago. The property contains four above-grade units, each configured with two bedrooms and one bathroom, with separate heat sources and separate water heaters for each unit; tenants are responsible for their own gas and electric utilities. The building also includes a non-conforming basement unit with one bedroom and one bathroom, and the basement level houses a coin-operated laundry facility. Exterior parking is present on the property but is not described as currently generating rental income. The building is maintained and positioned for residential leasing use, with convenient access to public transportation and nearby commercial amenities, including the 606 Trail.
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1878
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,520 SF
Lot
0.07 ac (3,125 SF)
APN
14-31-327-034
UPID
US28-1267362
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$535k
CAP Approach
CAP
$645k
Comparable Approach
Comparable
$564k
Blend (final)
Blend
$500k
Owner & transaction history
since 2022
Last sale
$395,000
4 recorded transactions
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 5 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$500k
Value range
$450k – $550k
±10% around blend
Estimated value / SF
$198 / SF
Confidence
High
5 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
50
$450k
blend $500k
$550k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
2,520 SF
Lot area
0.07 ac
Year built
1878
Stories
2
APN
14-31-327-034
Assessed value
$83,000
Annual tax
$17,072
3
Income approach: direct capitalization
Partial preview
Income approach indication
$645k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$700k
@ 6.5% CAP return
$645k
@ 7% CAP return
$600k
4
Sales comparison
Partial preview
Sales approach indication
$499k
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
9.5 mi away · 1,848 SF
15.9 mi away · 3,025 SF
19.4 mi away · 1,825 SF
28.8 mi away · 2,336 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$500k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 1382 sales
$303
-35%
Submarket 24687 sales
$172
+15%
County 29478 sales
$166
+19%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $198/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Implied cap rate
8.40%
Implied, in-place cap rate for this apartment buildings
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 8.40%
9.0%
NOI (est.)
$28k *
Last sale · Oct 2022
$395k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$329k
Move the market yield to see immediate price impact.
Value / SF
$131
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
7.90%8.40%8.90%
$25k
$315k
$296k
$280k
$28k
$350k
$329k
$311k
$30k
$385k
$362k
$342k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$425k
0.8 mi · Dec 2025 · $201/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$17,072
Tax year 2022
Assessed value
$83,000
Assessed 2022
Previous assessed
$83,000
+0.0% YoY
Effective rate
20.57%
On assessed value
Assessed land
$25,000
Assessed improvement
$58,000
Land market value
$250,000
Improvement market value
$580,000
Total market value
$830,000
Applied tax rate
77,001.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
For Sale
Year built
1878
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Stories
2
Units
2
Bathrooms
4
Total area
2,520 SF
Lot
0.07 ac (3,125 SF)
APN
14-31-327-034
UPID
US28-1267362
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1878
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
2
Units
2
Bathrooms
4
Lot
0.07 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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