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Property profile & analytics
FOR SALE
Commercial real estate
223 W Lake St, Chicago, IL 60606
Individually Owned
~
Est. High Equity
Property ID
US28-1141756
For Sale
1 / 2
$980,000
223 W Lake St, Chicago, IL 60606
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
APN
17-09-430-021
UPID
US28-1141756
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.08M
Owner & transaction history
Cary R Latimer
Cary R Latimer
since 2025
Last sale
$1.1M
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
$900,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.08M
Range $968k – $1.18M · ±10% · vs last sale $1.08M (Jul 30 2025)
Last sale anchor
$1.08M
Jul 30 2025
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
—
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
$107,929
Tax year 2022
Assessed value
$524,738
Assessed 2022
Previous assessed
$524,738
+0.0% YoY
Effective rate
20.57%
On assessed value
Assessed land
$51,709
Assessed improvement
$473,029
Land market value
$206,836
Improvement market value
$1,892,116
Total market value
$2,098,952
Applied tax rate
76,064.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Sale
APN
17-09-430-021
UPID
US28-1141756
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
Current owner
From public records · entity-resolved
Cary R Latimer
Individual
Mailing address
227 W TRADE ST STE #900, CHARLOTTE, NC 28202-1688
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
18 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 10, 2025
—
Cary R Latimer
Kathleen Ehrlich
Deed
related
—
Oct 10, 2025
$1,120,000
Jonathan Terrell
Tlh Td Equities II LLC
Special Warranty Deed
$600,000 · Bmo Bank NA
Jul 30, 2025
$1,175,000
Steven Ehrlich
Tlh Td Equities II LLC
Special Warranty Deed
$940,000 · Guaranteed Rate INC
Jul 30, 2025
$1,075,000
Kevin Gonzalez
Tlh Td Equities II LLC
Special Warranty Deed
—
May 12, 2025
$730,000
Apa 223 Holdings LLC
Tlh Td Equities II LLC
Special Warranty Deed
$650,000 · Albany Bank & Trust Company NA
Apr 28, 2025
$1,300,000
223 Lake Street LLC
Tlh Td Equities II LLC
Special Warranty Deed
$975,000 · Bmo Bank NA
Apr 17, 2025
$1,450,000
German Gonzalez
Tlh Td Equities II LLC
Special Warranty Deed
$857,000 · Originpoint LLC
Apr 4, 2025
$1,550,000
Jorge Beristain
Tlh Td Equities II LLC
Special Warranty Deed
$1,080,000 · Alliant Cu
Apr 4, 2025
$1,350,000
Jacob Ross
Tlh Td Equities II LLC
Special Warranty Deed
—
Dec 23, 2024
$1,100,000
The Susan Schacht Trust
Tlh Td Equities II LLC
Special Warranty Deed
—
Jul 31, 2024
—
Tlh Td Equities II LLC
—
Deed
related
$10,000,000 · Corevest American Finance Lender LLC
Mar 21, 2024
—
Wilmington Savings Fund Society Fsb
Manuel Gliksberg
Foreclosure
related
—
Jan 5, 2022
—
Loop Lofts LLC
—
Deed
related
$6,450,470 · Conventus LLC
Oct 5, 2020
—
225 West Wacker Owner LLC
—
Deed
related
$158,100,000 · Rbc R/e Cap Corp
Jun 15, 2020
—
225 West Wacker Owner LLC
Maps 225 West Wacker LLC
Quitclaim Deed
related
—
Mar 9, 2020
—
Loop Lofts LLC
—
Deed
related
$5,785,000 · 5 Arch Fndg
May 31, 2018
—
Maps 225 West Wacker LLC
—
Grant Deed
related
$133,100,000 · Mufg Union Bk NA
Oct 5, 2016
—
Maps 225 West Wacker LLC
—
Deed
related
$115,000,000 · Miscellaneous Ins Co
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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