Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    163 W Division St Chicago, IL 60610
    Property profile & analytics

    163 W Division St, Chicago, IL 60610

    View on Map
    • Office Spaces
    • 0.34 lot acres
    For Sale
    $3,275,000
    View Listing →
    Mixed-Use Investment Opportunity, Chicago For Sale
    $3,275,000
    1,560 SF

    Mixed-Use Investment Opportunity, Chicago

    Portfolio investment in prime Chicago location with mixed-use asset.

    163 W Division Street, Chicago, IL 60610
    View Listing
    Property ID
    US28-5679058
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 163 W Division St

    Year built
    1980
    Lot size
    0.34 lot acres
    Property type
    Office Spaces
    APN
    17-04-404-026-1002
    APU
    17044040261002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6341
    Latitude
    41.9036
    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
    $18,111
    $15,589
    $70,337
    $85,926
    -
    $62,356
    $281,348
    $343,704

    Comparable in this City

    • Value Estimation by Request

      415 North Ave

      Restaurants
      415 North Ave, Chicago, IL 60610
      View Details
    • Value Estimation by Request
      77,400 SF

      220-230 Kinzie St

      Office Spaces
      220-230 Kinzie St, Chicago, IL 60610
      View Details
    • Value Estimation by Request
      0.06 Acres

      1445 Wls St Ste, Unit 1

      CONDOMINIUM OFFICES
      1445 Wls St Ste, Chicago, IL 60610-9201
      View Details
    • Value Estimation by Request

      30 Division St

      CONDOMINIUM OFFICES
      30 Division St, Chicago, IL 60610-2366
      View Details
    • Value Estimation by Request
      0.10 Acres

      1401 Orleans St

      CONDOMINIUM OFFICES
      1401 Orleans St, Chicago, IL 60610-7202
      View Details
    • Value Estimation by Request
      0.34 Acres

      1546 Orleans St, Unit C-1

      CONDOMINIUM OFFICES
      1546 Orleans St, Chicago, IL 60610-2453
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Victorian Greystone in Gold Coast

      Four-story building in vibrant Gold Coast neighborhood, suitable for various uses.
      812 N Dearborn St, Chicago, IL 60610
      View Details
    • $865,000
      0.10 Acres

      Chicago Commercial Space For Sale

      Commercial space available in Chicago, Illinois.
      416 W Ontario St, Chicago, IL 60610
      View Details
    • $309,000

      Storefront Simplex in Lincoln Park

      Storefront simplex with multiple offices and reception area.
      1547 N Larrabee St, Chicago, IL 60610
      View Details
    • $339,000

      Storefront Duplex in Lincoln Park

      Storefront duplex with offices and storage in Lincoln Park.
      1543 N Larrabee St, Chicago, IL 60610
      View Details
    • Contact for pricing
      13,125 SF

      River North Retail Space Available

      Iconic restaurant property in Chicago's River North neighborhood.
      660 North Wells St, Chicago, IL 60610
      View Details
    • $2,629,000

      River North Flex Industrial Building

      Flex industrial building in Chicago's River North/Oldtown neighborhood.
      313 W Chestnut St, Chicago, IL 60610
      View Details

    Similar Nearby for Lease

    • $30 SF/Yr
      275 SF

      Gold Coast Executive Office Suite

      Prime Chicago Office Space Available
      1150 State St, Chicago, IL 60610
      View Details
    • Contact for pricing

      Commercial Space in Chicago, IL

      Commercial space available for rent in Chicago, Illinois.
      416 W Ontario St, Chicago, IL 60610
      View Details
    • $17 SF/Yr

      Loft Office Space Available

      4,937 SF loft office space for rent.
      434 W Ontario St, Chicago, IL 60610
      View Details
    • Contact for pricing
      1,800 SF

      Prime Commercial Space in Chicago

      Commercial property with expansive windows and modern design in Chicago.
      421 W North Ave, Chicago, IL 60610
      View Details
    • $23 SF/Yr

      Commercial Suite in Carl Sandburg

      Commercial suite in Carl Sandburg Village available for rent.
      1360 N Sandburg Ter, Chicago, IL 60610
      View Details
    • $28 SF/Yr

      River North Loft Office Space

      Updated River North loft with modern amenities and park views.
      314 W Institute Pl, Chicago, IL 60610
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    163 W Division St
    Chicago, IL 60610
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    163 W Division St, Chicago, IL, 60610
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!