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

    1714 Montrose Ave, Unit P-2 Chicago, IL 60613-1117

    • Parking lots & garages
    OFF-MARKET
    Last Sale
    Sep 13, 2021
    $310,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2775388
    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

    • Parking lots & garages

    Property Details for 1714 Montrose Ave

    Property type
    Parking lots & garages
    APN
    14-18-222-045-1017
    APU
    14182220451017

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6713
    Latitude
    41.9618
    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
    $1,044
    $1,952
    $6,377
    $8,329
    -
    $19,520
    $63,770
    $83,290

    Comparable in this City

    • Value Estimation by Request
      0.65 Acres

      828 Grace St, Unit P4

      RESIDENTIAL PARKING GARAGE • 0.65 Acres
      828 Grace St, Chicago, IL 60613-5758
      View Details
    • Value Estimation by Request
      0.28 Acres

      920 Sheridan Rd, Unit P17

      RESIDENTIAL PARKING GARAGE • 0.28 Acres
      920 Sheridan Rd, Chicago, IL 60613-5053
      View Details
    • Value Estimation by Request
      0.36 Acres

      3823 Ashland Ave, Unit P-24

      RESIDENTIAL PARKING GARAGE • 0.36 Acres
      3823 Ashland Ave, Chicago, IL 60613-5828
      View Details
    • Value Estimation by Request
      0.47 Acres

      4180 Marine Dr, Unit P21

      RESIDENTIAL PARKING GARAGE • 0.47 Acres
      4180 Marine Dr, Chicago, IL 60613-2271
      View Details
    • Value Estimation by Request
      0.65 Acres

      828 Grace St, Unit P117

      RESIDENTIAL PARKING GARAGE • 0.65 Acres
      828 Grace St, Chicago, IL 60613-5758
      View Details
    • Value Estimation by Request
      0.45 Acres

      1811 Addison St, Unit P13

      RESIDENTIAL PARKING GARAGE • 0.45 Acres
      1811 Addison St, Chicago, IL 60613-4268
      View Details

    Similar Nearby for Sale

    • $1,200,000
      11,876 SF

      Bow Truss Building Near CTA

      Unique bow truss building near Irving Park Brown Line CTA stop.
      1833 W Irving Park Rd, Chicago, IL 60613
      View Details
    • Contact for pricing

      Rooftop Parking Space in Chicago

      Rooftop parking space available for purchase in Chicago, Illinois.
      655 W Irving Park Rd, Chicago, IL 60613
      View Details
    • $42,000

      Heated Parking Space Near Wrigley

      Indoor heated tandem parking space near Lake Michigan and Wrigley Field.
      655 W Irving Park Rd, Chicago, IL 60613
      View Details
    • $285,000

      Lakeview Commercial Condo For Sale

      Commercial condo in Lakeview with office/retail space and parking.
      1471 W Irving Park Rd, Chicago, IL 60613
      View Details
    • $695,000

      Lincoln Avenue Retail Investment Property

      Commercial space with established tenants and attractive CAP rate.
      3740 N Lincoln Ave, Chicago, IL 60613
      View Details
    • $1,300,000
      0.17 Acres

      Renovated Medical Space in Lakeview

      Completely renovated medical space in Chicago's Lakeview East neighborhood.
      3916 N Broadway St, Chicago, IL 60613
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      19,018 SF

      Lake Shore Office Space Available

      East Lakeview Office: 1,050 SF Available
      3720 Broadway St, Chicago, IL 60613
      View Details
    • $30 SF/Yr
      900 SF

      Wrigleyville Medical Office Space

      Prime Location, 900 SF, 2 Parking Spots
      3747 Clark St, Chicago, IL 60613
      View Details
    • $28 SF/Yr

      Neighborhood Storefront Available For Lease

      Storefront for lease in high-traffic Chicago neighborhood, approximately 520 sqft.
      909 W Irving Park Rd, Chicago, IL 60613
      View Details
    • $30 SF/Yr
      907 SF

      New Retail Space Available

      New construction retail space in prime North Center location.
      3916 N Lincoln Ave, Chicago, IL 60613
      View Details
    • Contact for pricing
      11,166 SF

      Retail Space in Uptown Chicago

      High-visibility corner location in a grocery-anchored shopping center.
      901-925 W Montrose Ave, Chicago, IL 60613
      View Details
    • Contact for pricing
      10,355 SF

      Prime Lakeview Retail Space

      High-Visibility Sheridan Road Retail
      3956 Sheridan Rd, Chicago, IL 60613
      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.
    1714 Montrose Ave, Unit P-2
    Chicago, IL 60613-1117
    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.