Realmo Analytics
Get property leads for Acquiring or Refinance. View reports on 50M+ commercial properties in the US.
Entity Owned Property summary
Exceptional opportunity to acquire a thriving restaurant and storefront property at 2244 S Michigan Ave, Chicago, IL 60616. This 4,125 square foot, single-tenant building boasts a strong financial performance, with a current NOI of $98,238 and a pro-forma NOI of $113,419, translating to a 6.55% cap rate and a pro-forma cap rate of 7.56%. The asking price is $1,500,000, representing a price per square foot of $363.64. Built in 1888 and completely renovated, the property features a new roof and… all-new interior fixtures. Currently operating as Bar 22, this established business benefits from a 10-year lease (commencing May 1, 2017, and expiring April 30, 2027), with approximately 2.4 years remaining. The property enjoys a 100% occupancy rate. Its strategic location within Chicago's vibrant New Motor Row entertainment district offers unparalleled access to major attractions, including McCormick Place Convention Center (attracting nearly 3 million visitors annually), Wintrust Arena, and the new Marriott hotel. The area is undergoing significant redevelopment, including a $390 million expansion project creating McCormick Square, a new destination for nightlife, hotels, and retail. Furthermore, its location within an Opportunity Zone provides attractive tax advantages for investors. Convenient public transportation via the CTA "L" station (Red, Orange, and Green Lines) and proximity to major interstate systems (I-90/94, I-55, and Lake Shore Drive) enhance its accessibility. This property presents a compelling investment opportunity with significant upside potential.
Ownership intelligence
Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with the full report.
Debts
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax · 2022
Value estimate
· Oct 2026Realmo valuation models over county records and 8 qualifying comparable sales.
Recently sold
Cap rate analysis
No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.
Zoning insight
No data for this sectionNo zoning code is on file for this parcel. Coverage grows with every catalog release.
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
6 recorded sales · 18 properties nearbyComparable nearby
Similar Nearby for Sale
Similar Nearby for Lease
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
from $199/month
- GBA
- 2,700 SF
- Lot area
- 0.09 ac
- Year built
- 1888
- Stories
- 1
- APN
- 17-27-101-024
- Assessed value · 2022
- $176,457
- Annual tax · 2022
- $36,408
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $199/month
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with the full report for this property - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
Unlock the evidence behind ownership: portfolio, transactions, debt and any signals we can model, to help you decide who to contact next.
Registration is required before any owner information is shown.
The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
Cancel anytime.
- Signals, scores & lead lists
- 300 owner contacts a month
- 30 full reports a month
- Ownership
- Owner Contacts
- Location Analytics
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
Cancel anytime.
- Signals, scores & lead lists
- 1500 owner contacts a month
- 150 full reports a month
- Ownership
- Owner Contacts
- Location Analytics
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
The PDF can’t be displayed here
Use Download PDF or Open in new tab above to view the sample report.
