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Property profile & analytics
OFF-MARKET
Estimated value
$8,700,000
Retail space
229 Ontario St Chicago, IL 60611
Entity Owned
1-yr Hold
Free & Clear
Property ID
US28-0979322
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1959
Total area
16,900 SF
Lot
0.06 ac (2,790 SF)
APN
17-10-206-011
UPID
US28-0979322
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
$8.70M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.70M
Blend (final)
Blend
$8.70M
Owner & transaction history
Was Ontario LLC · 1 yrs held
Was Ontario LLC
since 2024
Last sale
$8.7M
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
$8,700,000
ML approach
$8,700,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$8.70M
Range $7.83M – $9.57M · ±10% · vs last sale $8.70M (Sep 13 2024)
Last sale anchor
$8.70M
Sep 13 2024
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
$515 / 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
$60,125
Tax year 2022
Assessed value
$292,318
Assessed 2022
Previous assessed
$292,318
+0.0% YoY
Effective rate
20.57%
On assessed value
Assessed land
$226,687
Assessed improvement
$65,631
Land market value
$906,748
Improvement market value
$262,524
Total market value
$1,169,272
Applied tax rate
74,004.0000
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
Retail space
Use group
STORE, RETAIL OUTLET
Status
Off-Market
Year built
1959
Heating
NONE
Stories
2
Total area
16,900 SF
Lot
0.06 ac (2,790 SF)
APN
17-10-206-011
UPID
US28-0979322
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
Building & site characteristics
From public records
Year built
1959
Heating
NONE
Stories
2
Lot
0.06 ac
Current owner
From public records · entity-resolved
Was Ontario LLC
Entity
Free & Clear · 1 yrs held
Mailing address
3201 N OLD GLENVIEW RD STE #235, WILMETTE, IL 60091-2996
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 13, 2024
$8,700,000
Was Ontario LLC
Powder Rock Glade 10 LLC
Special Warranty Deed
—
Sep 5, 2024
—
West Ontario Acceptance LLC
Fitz 223 LLC
Deed
related
—
Jun 15, 2023
—
Fitz 223 LLC
—
Deed
related
$1,069,948 · Urban Investment Research Corporation
Oct 10, 2019
—
Fitz 223 LLC
—
Grant Deed
related
$1,500,000 · First Bk&tr Co Of Illinois
Jul 26, 2018
—
Fitz 223 LLC
—
Deed
related
$800,000 · Bank Of Waukegan
Jan 31, 2011
$4,175,000
Powder Rock Glade LLC
Ontario Post Office Building L
Grant Deed
—
Aug 27, 2010
—
Ontario Post Office Building L
Trust 11266
Grant Deed
related
—
—
—
Powder Rock Glade LLC
—
Deed Of Trust
related
$5,300,000 · Firstmerit Bank NA
—
—
Fredos LLC
—
Deed Of Trust
related
$24,000,000 · Guggenheim Life & Annuity 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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