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

    1917 Indiana Ave Chicago, IL 60616

    • Office buildings
    • 39,600 SF
    • 0.11 lot acres
    OFF-MARKET
    Last Sale
    Mar 10, 2022
    $14,000,000
    Value Estimations
    $16,085,000
    Show details
    Cap Rate Potential
    5.4%
    Office buildings
    Location Intelligence
    Property ID
    US28-2387305
    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

    • Office buildings

    Property Details for 1917 Indiana Ave

    Year built
    1996
    Lot size
    0.11 lot acres
    Property size
    39,600 SF
    Property type
    Office buildings
    APN
    17-22-308-024
    APU
    1722308024

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $16,800,000
      ML approach
      $9,750,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $15,105,000
      6.5%
      $13,945,000
      7%
      $12,945,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $12,245,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6218
    Latitude
    41.8561
    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
    $39,790
    $62,562
    $130,290
    $192,852
    -
    $250,248
    $521,160
    $771,408

    Comparable in this City

    • Value Estimation by Request

      Chicago, IL 60616

      OFFICE BUILDING (MULTI-STORY)
      Chicago, IL 60616
      View Details
    • Value Estimation by Request

      500 18th St

      OFFICE BUILDING (MULTI-STORY)
      500 18th St, Chicago, IL 60616-1254
      View Details
    • Value Estimation
      $555,000
      17,400 SF

      530 18th St

      OFFICE BUILDING • 17,400 SF
      530 18th St, Chicago, IL 60616-1148
      View Details
    • Value Estimation
      $965,000
      35,400 SF

      2600 Michigan Ave

      OFFICE BUILDING (MULTI-STORY) • 35,400 SF
      2600 Michigan Ave, Chicago, IL 60616-2857
      View Details
    • Value Estimation
      $16,085,000
      39,600 SF

      1907 Pr Ave

      OFFICE BUILDING (MULTI-STORY) • 39,600 SF
      1907 Pr Ave, Chicago, IL 60616
      View Details
    • Value Estimation
      $2,635,000
      93,600 SF

      2635 Wabash Ave

      OFFICE BUILDING (MULTI-STORY) • 93,600 SF
      2635 Wabash Ave, Chicago, IL 60616-2811
      View Details

    Similar Nearby for Sale

    • $3,250,000
      32,000 SF

      Historic Motor Row Office Building

      Located in Chicago's Historic Motor Row District.
      2215 S Michigan Ave, Chicago, IL 60616
      View Details
    • $2,100,000
      8,000 SF

      Renovated Office Building For Sale

      8,000-SF renovated office building on 15,000-SF lot.
      2950 W 26Th St, Chicago, IL 60616
      View Details
    • $2,350,000
      29,500 SF

      Chicago Office Building For Sale

      29,500 SF office building in a Federal Opportunity Zone.
      17 E 23Rd St, Chicago, IL 60616
      View Details
    • Contact for pricing
      40,000 SF

      Chicago South Loop Mixed-Use Investment

      High-NOI, Multifamily & Retail Portfolio
      2001 State St, Chicago, IL 60616
      View Details
    • Contact for pricing
      33,500 SF

      Motor Row Redevelopment Opportunity

      33,500 SF Flex Space, Chicago
      2221 Michigan Ave, Chicago, IL 60616
      View Details
    • $1,750,000
      18,000 SF

      South Loop Investment Opportunity

      172 Units, 18,000 SF, High Potential
      1639 Indiana Ave, Chicago, IL 60616
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      34,505 SF

      Commercial Office/Warehouse Loft Space

      500,000 SF commercial building with amenities and parking options.
      329 W 18Th St, Chicago, IL 60616
      View Details
    • $22 SF/Yr
      38,472 SF

      State Street Executive Office Space

      Prime Chicago location, 5,327 SF available.
      2001 State St, Chicago, IL 60616
      View Details
    • $19 SF/Yr
      3,250 SF

      Office Space with Modern Amenities

      Equipped office space with private offices, restrooms, and furnishings.
      1700 S Michigan Ave, Chicago, IL 60616
      View Details
    • $25 SF/Yr
      3,645 SF

      Canal Plaza: Chicago Office Suites

      Modern Chinatown Offices, 3 Spaces Available
      2252 Canal St, Chicago, IL 60616
      View Details
    • $13 SF/Yr
      39,900 SF

      Motor Row Office Building

      Exceptional 39,900 SF Mixed-Use Property
      2241 Wabash Ave, Chicago, IL 60616
      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.
    1917 Indiana Ave
    Chicago, IL 60616
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.