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Property profile & analytics
OFF-MARKET
Estimated value
$24,530,000
Office buildings
229 Jackson Blvd Chicago, IL 60606-6958
Entity Owned
27-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US28-1073673
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1910
Total area
184,900 SF
Lot
0.35 ac (15,300 SF)
APN
17-16-228-001
UPID
US28-1073673
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
-
Dunkin' (Bike/Boat/Book/etc) Store Bakery
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$29.89M
Blend (final)
Blend
$24.53M
Owner & transaction history
Brooks Building LLC · 27 yrs held
Brooks Building LLC
since 1999
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$31.8M
+27.7%
Retail stores
$26.9M
+8.1%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$24,900,000
Current use
APARTMENT HOUSE (5+ UNITS)
$31,805,000
Change: +28% · Conversion: Easy
RETAIL STORES
$26,915,000
Change: +8% · Conversion: Moderate
AUTO REPAIR, GARAGE
$22,150,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$24.53M
Range $22.08M – $26.98M · ±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
$133 / 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
$956,628
Tax year 2022
Assessed value
$4,650,997
Assessed 2022
Previous assessed
$4,650,997
+0.0% YoY
Effective rate
20.57%
On assessed value
Assessed land
$1,816,875
Assessed improvement
$2,834,122
Land market value
$7,267,500
Improvement market value
$11,336,488
Total market value
$18,603,988
Applied tax rate
76,058.0000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1910
Heating
NONE
Stories
13
Total area
184,900 SF
Lot
0.35 ac (15,300 SF)
APN
17-16-228-001
UPID
US28-1073673
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
OFFICE BUILDING Current
Est. value
$24.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$31.8M
RETAIL STORES
Est. value
$26.9M
AUTO REPAIR, GARAGE
Est. value
$22.2M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
AUTO REPAIR, GARAGE
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
1910
Heating
NONE
Stories
13
Lot
0.35 ac
Current owner
From public records · entity-resolved
Brooks Building LLC
Entity
Mailing address
55 E JACKSON BLVD, CHICAGO, IL 60604-4466
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1999
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 1, 2012
—
Brooks Building LLC
—
Grant Deed
related
$9,500,000 · Pnc Bank
Feb 23, 1999
—
Brooks Building LLC
Lasalle Nat'l Bank Chgo Ttee
Grant Deed
$10,300,000 · Bank One Illinois NA
—
—
Brooks Building LLC
—
Deed Of Trust
related
$14,000,000 · Miscellaneous Ins Co
—
—
Brooks Building LLC
—
Deed Of Trust
related
$10,500,000 · Bear Stearns Commercial Mtg
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.
Try Rey
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