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Property profile & analytics
OFF-MARKET
Estimated value
$1,675,000
Retail space
1709 Chicago Ave Chicago, IL 60622-5009
Entity Owned
10-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US28-5513429
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1923
Total area
7,200 SF
Lot
0.18 ac (7,925 SF)
APN
17-07-202-016
UPID
US28-5513429
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
-
ParkChicago #297315 Parking Lot & Garage
-
Brasero Restaurant
-
Western Exhibitions Art Gallery
-
Volume Gallery Art Gallery
-
Paris London Hong Kong Museum Tourist Attraction
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.53M
Comparable Approach
Comparable
$1.33M
Blend (final)
Blend
$1.68M
Owner & transaction history
Rgbw Ventures 1709 LLC · 10 yrs held
Rgbw Ventures 1709 LLC
since 2016
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Chicago submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chicago 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,660,000
6.5%
$1,530,000
7%
$1,425,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,355,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,990,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$1.68M
Range $1.51M – $1.84M · ±10%
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
$233 / 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
$126,561
Tax year 2022
Assessed value
$590,962
Assessed 2022
Previous assessed
$590,962
+0.0% YoY
Effective rate
21.42%
On assessed value
Assessed land
$39,625
Assessed improvement
$551,337
Land market value
$158,500
Improvement market value
$2,205,348
Total market value
$2,363,848
Applied tax rate
77,062.0000
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
STORE, RETAIL OUTLET
Status
Off-Market
Year built
1923
Heating
NONE
Stories
2
Total area
7,200 SF
Lot
0.18 ac (7,925 SF)
APN
17-07-202-016
UPID
US28-5513429
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
RETAIL STORES Current
Est. value
$2.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
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
1923
Heating
NONE
Stories
2
Lot
0.18 ac
Current owner
From public records · entity-resolved
Rgbw Ventures 1709 LLC
Entity
Mailing address
35 E WACKER DR STE #650, CHICAGO, IL 60601-2119
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
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
Oct 30, 2017
—
Rgbw Ventures 1709 L L C
—
Deed
related
$2,450,000 · Forest Park National Bank & Trust Co
Nov 18, 2016
—
Rgbw Ventures 1709 LLC
—
Trustees Deed
related
$2,350,000 · Forest Park Nat'l Bk
Mar 17, 2016
$1,800,000
Rgbw Ventures 1709 LLC
Michael,jeffrey E
Warranty Deed
$1,350,000 · Forest Park Nat'l Bk
Feb 22, 2016
—
Jeffrey E Michael
1709 W Chicago LLC
Warranty Deed
related
—
Sep 4, 2014
$1,400,000
1709 Chicago Venture LLC
1709 W Chicago LLC
Warranty Deed
related
$1,050,000 · Northern Tr
Jan 28, 2008
$1,255,000
1709 W Chicago LLC
Chung,michael V & Kwang C
Warranty Deed
$1,004,000 · Plaza Bank NA
Apr 1, 2003
$1,125,000
Kwang C Chung
Cole Taylor Bank Ttee
Grant Deed
$525,000 · Mb Financial Bank NA
—
—
Kwang C Chung
—
Deed Of Trust
related
$12,000 · Mb Financial Bank NA
—
—
Rgbw Ventures 1709 LLC
—
Deed Of Trust
related
$3,675,000 · Forest Park Nat'l Bk
—
—
Kwang C Chung
—
Deed Of Trust
related
$50,000 · Mb Financial Bank NA
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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