Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    170 Washington St Chicago, IL 60602-2312

    • Office buildings
    • 14,000 SF
    • 0.09 lot acres
    OFF-MARKET
    Last Sale
    Jan 27, 2021
    $3,500,000
    Value Estimations
    $4,035,000
    Show details
    Cap Rate Potential
    8.1%
    Office buildings
    Location Intelligence
    Property ID
    US28-2128855
    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

    • Chicago Aesthetic Specialists / Medical Spa
    • Windy City Mart / Vending Machine Supplier
    • Champion Mortgage Group / Mortgage Lender
    • James White - eClick Lending / Mortgage Lender
    • Joe Meyers - LeaderOne Financial Corp / Mortgage Lender / Service Establishment

    Property Details for 170 Washington St

    Year built
    1871
    Lot size
    0.09 lot acres
    Property size
    14,000 SF
    Property type
    Office buildings
    APN
    17-09-446-009
    APU
    1709446009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,950,000
      ML approach
      $3,690,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,340,000
      6.5%
      $4,930,000
      7%
      $4,575,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,661,000
      Market price range: $721k - $3.89M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $6,095,000
      NEIGHBORHOOD: SHOPPING CENTER
      $3,345,000
      APARTMENT HOUSE (5+ UNITS)
      $2,410,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6332
    Latitude
    41.8835
    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
    $88,009
    $335,643
    $92,245
    $427,888
    -
    $1,342,572
    $368,980
    $1,711,552

    Comparable in this City

    • Value Estimation by Request

      105 Madison St

      OFFICE BUILDING (MULTI-STORY)
      105 Madison St, Chicago, IL 60602-4602
      View Details
    • Value Estimation by Request

      1 Dearborn St

      OFFICE BUILDING (MULTI-STORY)
      1 Dearborn St, Chicago, IL 60602-4331
      View Details
    • Value Estimation
      $1,535,000
      428,000 SF

      10 Clark St

      OFFICE BUILDING (MULTI-STORY) • 428,000 SF
      10 Clark St, Chicago, IL 60602
      View Details
    • Value Estimation
      $1,425,000
      995,400 SF

      177 Madison St

      OFFICE BUILDING (MULTI-STORY) • 995,400 SF
      177 Madison St, Chicago, IL 60602
      View Details
    • Value Estimation
      $1,715,000
      111,200 SF

      120 Madison St

      OFFICE BUILDING (MULTI-STORY) • 111,200 SF
      120 Madison St, Chicago, IL 60602-4103
      View Details
    • Value Estimation
      $1,450,000
      428,000 SF

      20 Clark St Ste, Unit 620

      OFFICE BUILDING (MULTI-STORY) • 428,000 SF
      20 Clark St Ste, Chicago, IL 60602-4363
      View Details

    Similar Nearby for Sale

    • $3,410,000
      259,000 SF

      259,000 SF 5 Units Portfolio

      259,000 SF 5 Units Portfolio
      111 N Wabash Avenue 810-2102-2, Chicago, IL 60602
      View Details
    • $2,310,000
      259,000 SF

      259,000 SF 2 Units Portfolio For Sale

      259,000 SF 2 Units Portfolio For Sale
      111 N Wabash Avenue 1114-1116, Chicago, IL 60602
      View Details
    • $4,840,000
      0.21 Acres

      Chicago Central Loop Commercial Building

      Three-story office and retail building in Chicago's Central Loop.
      175 W Washington St, Chicago, IL 60602
      View Details
    • $4,840,000
      0.21 Acres

      Chicago Central Loop Commercial Building

      Three-story office and retail building in Chicago's Central Loop.
      175 W Washington St, Chicago, IL 60602
      View Details
    • $35,000
      7.90 Acres

      Historic Office Space in Chicago

      Office space in the heart of Millennium Park Neighborhood.
      111 N Wabash Ave, Chicago, IL 60602
      View Details
    • $69,000
      0.36 Acres

      Furnished Office Suite with Views

      Move-in ready office suite in iconic Garland Building, Chicago.
      111 N Wabash Ave, Chicago, IL 60602
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      52,165 SF

      Class A Office Space

      Class A office building, easily accessible via public transportation.
      1-17 N Dearborn St, Chicago, IL 60602
      View Details
    • Contact for pricing
      48,952 SF

      30 N Michigan Ave Office Space

      Prestigious Chicago Loop office, stunning views.
      30 N Michigan Ave, Chicago, IL 60602, Chicago, IL 60602
      View Details
    • Contact for pricing
      5,979 SF

      Prestigious Chicago Loop Office Space

      Class A office space in amenity-rich, 50-story building.
      181 W Madison St, Chicago, IL 60602
      View Details
    • $23 SF/Yr
      203,000 SF

      Downtown Loop Office Space

      Prestigious office suites, various sizes available.
      134 La Salle St, Chicago, IL 60602
      View Details
    • $23 SF/Yr
      700 SF

      East Loop Boutique Office Space

      Boutique office space in Chicago's East Loop.
      17-23 N Wabash Ave, Chicago, IL 60602
      View Details
    • $1,250 /Mo
      4,234 SF

      Office Space Near Public Transportation

      Office space with granite facade and easy public transportation access.
      20 N Clark St, Chicago, IL 60602
      View Details
    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.
    170 Washington St
    Chicago, IL 60602-2312
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.