Trust Owned 
For Sale
1 / 36
$824,000
1908 West 48Th St, Chicago, IL 60609
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Property summary
AI-generated overview
Located at 1908 West 48th Street in Chicago, this multi-unit residential property sits on a 0.07-acre lot and contains 15 bedrooms and 7 bathrooms. The layout is configured with separate heating and utility systems for each unit, including individual furnaces, hot water tanks, and electric meters; the building uses gas heat with a forced-air system. There is a full basement that provides storage space and may support further development. The property has undergone recent exterior improvements, including a roof replacement and work on the back porch. Off-street parking is provided by a two-car garage, and the outdoor space includes a fenced yard. The building is zoned MULTI.
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1914
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,869 SF
Lot
0.07 ac (3,050 SF)
APN
20-07-201-026
UPID
US28-0752228
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$255k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$270k
Owner & transaction history
since 2021
Last sale
$223,500
4 recorded transactions
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 6 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$270k
Value range
$243k – $297k
±10% around blend
Estimated value / SF
$55 / SF
Confidence
High
6 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
60
Income certainty
100
$243k
blend $270k
$297k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
4,869 SF
Lot area
0.07 ac
Year built
1914
Stories
3
APN
20-07-201-026
Assessed value
$15,000
Annual tax
$3,103
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$3,103
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$1.28M
Weighted, 6 comps · high confidence
Evidence
6 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
7.2 mi away · 4,200 SF
7.6 mi away · 4,200 SF
10.6 mi away · 5,956 SF
12.8 mi away · 4,480 SF
20.6 mi away · 5,049 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$270k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 971 sales
$123
-55%
Submarket 24687 sales
$172
-68%
County 29478 sales
$166
-67%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $55/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 6 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
Selected market yield
5.67%
Selected cap rate for this residential income homes
Derived from the Chicago market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 5.67%
9.0%
NOI (est.)
$47k *
Last sale · Jul 2021
$224k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$825k
Move the market yield to see immediate price impact.
Value / SF
$169
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.17%5.67%6.17%
$42k
$814k
$742k
$682k
$47k
$904k
$825k
$758k
$51k
$995k
$907k
$834k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
6 found
High confidence · county-verified
Closest comparable
$600k
7.1 mi · Jan 2026 · $126/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$3,103
Tax year 2022
Assessed value
$15,000
Assessed 2022
Previous assessed
$15,000
+0.0% YoY
Effective rate
20.69%
On assessed value
Assessed land
$2,440
Assessed improvement
$12,560
Land market value
$24,400
Improvement market value
$125,600
Total market value
$150,000
Applied tax rate
72,014.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
For Sale
Year built
1914
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Stories
3
Units
3
Bathrooms
6
Total area
4,869 SF
Lot
0.07 ac (3,050 SF)
APN
20-07-201-026
UPID
US28-0752228
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Building & site characteristics
From public records
Year built
1914
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
3
Units
3
Bathrooms
6
Lot
0.07 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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