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Property profile & analytics
OFF-MARKET
Estimated value
$1,065,000
Apartment buildings
224 Jefferson Ave, Elgin, IL 60120-3758
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US28-0084721
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1920
Total area
10,500 SF
Lot
0.25 ac (10,956 SF)
APN
06-12-304-029
UPID
US28-0084721
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
-
Rogman Restoration Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$975k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.41M
Blend (final)
Blend
$1.07M
Owner & transaction history
224 Jefferson Ave LLC · 4 yrs held
224 Jefferson Ave LLC
since 2022
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 Elgin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elgin 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
$1,105,000
ML approach
$975,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,480,000
Current use
COMMERCIAL (GENERAL)
$1,270,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$1.07M
Range $959k – $1.17M · ±10% · vs last sale $1.09M (Jan 7 2022)
Last sale anchor
$1.09M
Jan 7 2022
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
$101 / 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
$19,726
Tax year 2022
Assessed value
$227,493
Assessed 2022
Previous assessed
$212,690
+7.0% YoY
Effective rate
8.67%
On assessed value
Assessed land
$45,755
Assessed improvement
$181,738
Land market value
$137,265
Improvement market value
$545,214
Total market value
$682,479
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1920
Heating
NONE
Stories
3
Bathrooms
12
Total area
10,500 SF
Lot
0.25 ac (10,956 SF)
APN
06-12-304-029
UPID
US28-0084721
Jurisdiction
KANE
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
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
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
1920
Heating
NONE
Stories
3
Bathrooms
12
Lot
0.25 ac
Current owner
From public records · entity-resolved
224 Jefferson Ave LLC
Entity
Mailing address
1400 PATRIOT BLVD UNIT #701, GLENVIEW, IL 60025-1030
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 7, 2022
$1,092,000
224 Jefferson Ave LLC
224 Jefferson LLC
Warranty Deed
$940,000 · Associated Bank NA
Dec 23, 2020
$1,000,000
224 Jefferson LLC
Sub City Villas LLC
Warranty Deed
$780,000 · Royal Savings Bank
Jun 27, 2018
$586,500
Subcity Villas LLC
Place Of Our Own LLC
Warranty Deed
$997,050 · St Charles Bk&tr
Aug 18, 2015
$498,000
A Place Of Our Own LLC
Chicago Title Land Trust Company
Deed
$400,086 · First National Bank Of Omaha
Dec 8, 2003
$625,000
Lasalle Bank NA Trustee
Schmidt,allen E
Grant Deed
related
$531,250 · Efs Bank
—
—
Allen E Schmidt
—
Deed Of Trust
related
$300,000 · Elgin Financial Savings Bank
—
—
Trust 131541
—
Deed Of Trust
related
$670,000 · Citizens Financial Bank
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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