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Property profile & analytics
OFF-MARKET
Estimated value
$5,595,000
Motels
201 State St, Chicago, IL 60601-2402
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US28-5673058
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
2006
Total area
45,400 SF
Lot
0.22 ac (9,576 SF)
APN
17-10-302-008
UPID
US28-5673058
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
-
Bank of America Financial Center Bank Loan Service
-
Bank of America ATM Atm
-
Voltage Marketing & Advertising
-
ROOF Restaurant
-
Spa at theWit Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.26M
Comparable Approach
Comparable
$5.48M
Blend (final)
Blend
$5.60M
Owner & transaction history
Ecd-great Street De LLC · 14 yrs held
Ecd-great Street De LLC
since 2012
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%
$5,695,000
6.5%
$5,255,000
7%
$4,880,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$7,820,000
Current use
APARTMENT HOUSE (5+ UNITS)
$7,810,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$6,610,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$5.60M
Range $5.04M – $6.15M · ±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
$123 / 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
$1,010,210
Tax year 2022
Assessed value
$4,713,196
Assessed 2022
Previous assessed
$4,713,196
+0.0% YoY
Effective rate
21.43%
On assessed value
Assessed land
$1,017,450
Assessed improvement
$3,695,746
Land market value
$4,069,800
Improvement market value
$14,782,984
Total market value
$18,852,784
Applied tax rate
76,070.0000
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
2006
Heating
NONE
Stories
5
Total area
45,400 SF
Lot
0.22 ac (9,576 SF)
APN
17-10-302-008
UPID
US28-5673058
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
HOTEL/MOTEL Current
Est. value
$7.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.8M
RETAIL STORES
Est. value
$6.6M
HOTEL/MOTEL Current
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
2006
Heating
NONE
Stories
5
Lot
0.22 ac
Current owner
From public records · entity-resolved
Ecd-great Street De LLC
Entity
Mailing address
250 PKWY DR, LINCOLNSHIRE, IL 60069-4322
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 8, 2012
—
Ecd-great Street De LLC
Ecd-great Street LLC
Quit Claim Deed
related
$87,560,000 · J P Morgan Chase Bank
Jun 28, 2007
—
Ecd-great Street LLC
—
Deed Of Trust
related
$82,400,000 · Capmark Bank
Jan 26, 2007
—
Ecd-great Street LLC
—
Trustees Deed
related
$840,000 · National City Bank
Jun 22, 2005
—
Ecd-great Street LLC
Ballet,joffrey
Grant Deed
$5,085,000 · National City Bank Midwest
Mar 4, 2004
—
Joffrey Ballet Of Chicago INC
—
Deed Of Trust
related
$3,000,000 · Lasalle National Bank
Jun 5, 2000
—
Joffrey Ballet Of Chicago
Commonwealth Edison Co
Quit Claim Deed
related
—
—
—
Ecd-great Street LLC
—
Deed Of Trust
related
$82,400,000 · Capmark Bank
—
—
Joffrey Ballet Of Chicago INC
—
Deed Of Trust
related
$3,000,000 · American Nat'l Bk & Tr Chicago
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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