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Property profile & analytics
OFF-MARKET
Estimated value
$975,000
Retail space
1707 Division St Melrose Park, IL 60160-2009
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US28-0284842
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1953
Total area
1,991 SF
Lot
0.28 ac (12,375 SF)
APN
15-03-131-039
UPID
US28-0284842
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
-
The Joynt Next Door Restaurant
-
Taverna on Division Restaurant
-
Mem Electric Inc Electrical Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$970k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$975k
Owner & transaction history
Gsv Properties LLC · 3 yrs held
Gsv Properties LLC
since 2023
Last sale
$1.0M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$855,000
+188.2%
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 Melrose Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Melrose Park 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
$940,000
ML approach
$970,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$855,000
Change: +188% · Conversion: Easy
Blend value · Realmo final
$975k
Range $878k – $1.07M · ±10% · vs last sale $1.00M (Apr 24 2023)
Last sale anchor
$1.00M
Apr 24 2023
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
$490 / 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
$37,179
Tax year 2022
Assessed value
$120,649
Assessed 2022
Previous assessed
$120,649
+0.0% YoY
Effective rate
30.82%
On assessed value
Assessed land
$19,800
Assessed improvement
$100,849
Land market value
$79,200
Improvement market value
$403,396
Total market value
$482,596
Applied tax rate
31,017.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1953
Heating
NONE
Cooling
YES
Stories
1
Bathrooms
2
Total area
1,991 SF
Lot
0.28 ac (12,375 SF)
APN
15-03-131-039
UPID
US28-0284842
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
COMMERCIAL (GENERAL)
Est. value
$855,000
COMMERCIAL (GENERAL)
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
1953
Heating
NONE
Cooling
Yes
Stories
1
Bathrooms
2
Lot
0.28 ac
Current owner
From public records · entity-resolved
Gsv Properties LLC
Entity
Mailing address
60 N PR DR, ADDISON, IL 60101-3147
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 24, 2023
$1,000,000
Gsv Properties LLC
Taverna Properties LLC 1713
Warranty Deed
$1,300,000 · Pan American Bank & Trust
Oct 25, 2017
$815,000
Taverna Properties LLC-1707
Maggio,anthony J JR & Catherine M
Warranty Deed
$80,000 · Anthony J JR & Catherine M Maggio
Dec 4, 2012
$205,000
Anthony J Maggio JR.
Melone Mark E Trust
Grant Deed
—
May 8, 2012
—
Melone Mark E Trust
Malone,mark E & Patricia A
Grant Deed
related
—
Oct 16, 1997
$162,500
Mark E Melone
Continental Commty Bk & Tr Tte
Grant Deed
$130,000 · Homecomings Financial Network
—
—
Anthony J Maggio JR.
—
Deed Of Trust
related
$200,000 · Anthony J Maggio SR
—
—
Patricia Melone
—
Deed Of Trust
related
$33,275 · Lasalle National Bank
—
—
Mark E Melone
—
Deed Of Trust
related
$125,000 · Oak Brook Bank
—
—
Taverna Properties LLC 1707
—
Deed Of Trust
related
$1,440,000 · Byline Bk
—
—
Mark E Melone
—
Deed Of Trust
related
$118,068 · Wells Fargo Home Mortgage INC
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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