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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Residential income homes
2302 Blue Is Ave, Chicago, IL 60608-4314
Individually Owned
19-yr Hold
Property ID
US28-0013057
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1874
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,212 SF
Lot
0.04 ac (1,848 SF)
APN
17-30-207-041
UPID
US28-0013057
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
-
Mole Village Restaurant Restaurant
-
Rams Mexican Restaurant Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$325k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$553k
Blend (final)
Blend
$535k
Owner & transaction history
Carlos Cornejo · 19 yrs held
Carlos Cornejo
since 2007
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$770,000
+39.4%
Retail stores
$645,000
+17.0%
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
$325,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$550,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$770,000
Change: +39% · Conversion: Difficult
RETAIL STORES
$645,000
Change: +17% · Conversion: Difficult
Blend value · Realmo final
$535k
Range $482k – $589k · ±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
$167 / 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
$9,169
Tax year 2022
Assessed value
$48,000
Assessed 2022
Previous assessed
$48,000
+0.0% YoY
Effective rate
19.10%
On assessed value
Assessed land
$5,544
Assessed improvement
$42,456
Land market value
$55,440
Improvement market value
$424,560
Total market value
$480,000
Applied tax rate
77,021.0000
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
1874
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
CENTRAL
Stories
2
Units
4
Bathrooms
4
Total area
3,212 SF
Lot
0.04 ac (1,848 SF)
APN
17-30-207-041
UPID
US28-0013057
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
$550,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$770,000
RETAIL STORES
Est. value
$645,000
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
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
1874
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
2
Units
4
Bathrooms
4
Lot
0.04 ac
Current owner
From public records · entity-resolved
Carlos Cornejo
Individual
Mailing address
2302 S BLUE IS AVE, CHICAGO, IL 60608-4314
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2007
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
Mar 15, 2007
$272,000
Carlos Cornejo
Serrato,manuel & Sarah
Warranty Deed
$198,000 · Metropolitan Bank & Trust Co
Nov 12, 2004
$265,000
Manuel Serrato
Vela,anthony R
Warranty Deed
$198,750 · Metropolitan Bank & Trust Co
Feb 22, 2002
$140,000
Anthony R Vela
Kluk,helen
Grant Deed
$112,000 · Park Fsb
—
—
Anthony R Vela JR.
—
Deed Of Trust
related
$18,000 · Deepgreen 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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