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Property profile & analytics
OFF-MARKET
Estimated value
$810,000
Residential income homes
224 Hicks Pl, Palatine, IL 60067-5305
Entity Owned
4-yr Hold
Free & Clear
Property ID
US28-0103464
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1961
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,702 SF
Lot
0.21 ac (9,315 SF)
APN
02-14-319-001
UPID
US28-0103464
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
$968k
Blend (final)
Blend
$810k
Owner & transaction history
Enrg Farms Building 01 LLC · 4 yrs held
Enrg Farms Building 01 LLC
since 2021
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 Palatine submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palatine 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,160,000
Current use
RETAIL STORES
$1,000,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$810k
Range $729k – $891k · ±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
$121 / 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
$14,607
Tax year 2022
Assessed value
$51,000
Assessed 2022
Previous assessed
$51,000
+0.0% YoY
Effective rate
28.64%
On assessed value
Assessed land
$5,589
Assessed improvement
$45,411
Land market value
$55,890
Improvement market value
$454,110
Total market value
$510,000
Applied tax rate
29,007.0000
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1961
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
CENTRAL
Stories
2
Units
2
Bathrooms
2
Total area
6,702 SF
Lot
0.21 ac (9,315 SF)
APN
02-14-319-001
UPID
US28-0103464
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.2M
RETAIL STORES
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS) Current
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
1961
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
2
Units
2
Bathrooms
2
Lot
0.21 ac
Current owner
From public records · entity-resolved
Enrg Farms Building 01 LLC
Entity
Free & Clear · 4 yrs held
Mailing address
2004 SW 5TH ST STE A, LINCOLN, NE 68522-1735
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 2, 2021
—
Enrg Farms Building 01 LLC
Grne Solutions LLC
Warranty Deed
—
Nov 28, 2017
$455,000
Grne Solutions LLC
Sag 1111 LLC
Warranty Deed
$341,250 · Union Bk&tr
Mar 4, 2016
$330,000
Sag 1111 LLC
Number 15 LLC
Warranty Deed
—
Sep 11, 2012
$165,000
Number 15 LLC Midwest Reo Acqu
Synergy Property Holdings LLC
Grant Deed
$130,500 · State Bank Of Countryside
Jul 16, 2012
—
Synergy Property Holdings LLC
Intercounty Judicial Sales Cor
Trustees Deed
related
—
May 14, 2003
$480,000
Deborah Venticinque
Jokich,veljko
Grant Deed
$384,000 · Fifth Third Bank Chicago
Apr 7, 1999
$385,000
Veljko Jokich
Lasalle National Bank Trustee
Grant Deed
$190,000 · First Northwest Bank
—
—
George R Blanke JR.
—
Deed Of Trust
related
$360,000 · First Midwest Bank
—
—
Grne Solutions LLC
—
Deed Of Trust
related
$341,250 · Union Bk&tr
—
—
Veljko Jokich
—
Deed Of Trust
related
$264,376 · First Northwest Bank
—
—
Grne Solutions LLC
—
Deed Of Trust
related
$1,221,853 · Union Bk&tr
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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