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Property profile & analytics
OFF-MARKET
Estimated value
$4,130,000
Office buildings
177 Madison St Chicago, IL 60602
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US28-1171549
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1988
Total area
995,400 SF
Lot
0.14 ac (6,270 SF)
APN
17-16-203-003
UPID
US28-1171549
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
-
Pest Control Service Garden Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.13M
Owner & transaction history
181 West Madison Property LLC · 9 yrs held
181 West Madison Property LLC
since 2017
5 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$4 / 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
$2,188,101
Tax year 2022
Assessed value
$10,638,256
Assessed 2022
Previous assessed
$10,594,378
+0.4% YoY
Effective rate
20.57%
On assessed value
Assessed land
$940,500
Assessed improvement
$9,697,756
Land market value
$3,762,000
Improvement market value
$38,791,024
Total market value
$42,553,024
Applied tax rate
76,068.0000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1988
Heating
NONE
Stories
50
Total area
995,400 SF
Lot
0.14 ac (6,270 SF)
APN
17-16-203-003
UPID
US28-1171549
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
Building & site characteristics
From public records
Year built
1988
Heating
NONE
Stories
50
Lot
0.14 ac
Current owner
From public records · entity-resolved
181 West Madison Property LLC
Entity
Mailing address
181 W MADISON ST STE #4700, CHICAGO, IL 60602-4584
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 2, 2019
—
181 West Madison LLC
—
Grant Deed
related
$240,000,000 · Jp Morgan Chase Bk
Mar 16, 2017
$359,000,000
181 West Madison Property LLC
Spus6 181 West Madison LLC
Trustees Deed
related
$770,000,000 · Miscellaneous Ins Co
Nov 8, 2013
$1,047,510
Spus6 181 West Madison LLC
181 West Madison Cf Borrower L
Grant Deed
related
—
Jul 15, 2002
$248,000,000
Davis West Madison LLC
—
Grant Deed
related
—
Sep 20, 2001
$238,450,000
Davis West Madison LLC
Lasalle Bank NA Trustee
Grant Deed
$170,000,000 · Fleet National Bank Trustee
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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