Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    2317 Milwaukee Ave, Unit P-4 Chicago, IL 60647-7045
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2317 Milwaukee Ave, Unit P-4 Chicago, IL 60647-7045

    View on Map
    • Parking lots & garages
    • 0.22 lot acres
    Off-Market
    Last Sale Jun 15, 2022
    $626,000
    Property ID
    US28-0752304
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $670,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Felt Chicago / Clothing & Fashion Store

    Property Details for 2317 Milwaukee Ave

    Year built
    1906
    Lot size
    0.22 lot acres
    Property type
    Parking lots & garages
    APN
    13-36-103-046-1013
    APU
    13361030461013

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $760,000
      ML approach
      $675,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6979
    Latitude
    41.9236
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $188
    $117
    $793
    $910
    -
    $1,170
    $7,930
    $9,100

    Comparable in this City

    • Value Estimation by Request
      0.73 Acres

      2111 Churchill St, Unit P46

      RESIDENTIAL PARKING GARAGE • 0.73 Acres
      2111 Churchill St, Chicago, IL 60647-5534
      View Details
    • Value Estimation by Request
      0.23 Acres

      2212 Armitage Ave, Unit P-3

      RESIDENTIAL PARKING GARAGE • 0.23 Acres
      2212 Armitage Ave, Chicago, IL 60647-4461
      View Details
    • Value Estimation by Request
      1.37 Acres

      2300 Saint Paul Ave, Unit P-6

      RESIDENTIAL PARKING GARAGE • 1.37 Acres
      2300 Saint Paul Ave, Chicago, IL 60647-5619
      View Details
    • Value Estimation by Request
      0.91 Acres

      2511 Moffat St, Unit P16

      RESIDENTIAL PARKING GARAGE • 0.91 Acres
      2511 Moffat St, Chicago, IL 60647-4388
      View Details
    • Value Estimation by Request
      0.70 Acres

      1820 Spaulding Ave, Unit P28

      RESIDENTIAL PARKING GARAGE • 0.70 Acres
      1820 Spaulding Ave, Chicago, IL 60647-8840
      View Details
    • Value Estimation by Request
      0.91 Acres

      2511 Moffat St, Unit P24

      RESIDENTIAL PARKING GARAGE • 0.91 Acres
      2511 Moffat St, Chicago, IL 60647-4388
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Outdoor Parking Space For Sale

      Outdoor parking space available at Humboldt Place Condominiums.
      1925 N Humboldt Blvd, Chicago, IL 60647
      View Details
    • Contact for pricing

      Enclosed Parking Space For Sale

      Private garage parking space suitable for a smaller vehicle.
      2720 W Cortland St, Chicago, IL 60647
      View Details
    • Contact for pricing

      Bucktown Outdoor Parking Space

      Outdoor parking space available in Bucktown's Chicago Safe Citihomes.
      2300-2324 W Bloomingdale Ave, Chicago, IL 60647
      View Details
    • Contact for pricing

      Logan Square Parking Spaces Available

      Outdoor parking spaces available in Logan Square neighborhood.
      2443 W Armitage Ave, Chicago, IL 60647
      View Details
    • Contact for pricing

      Garage Parking with Remote Access

      Garage parking space available with remote-controlled 10-foot door.
      2410 W Bloomingdale Ave, Chicago, IL 60647
      View Details
    • Contact for pricing

      Bucktown Outdoor Parking Space

      Outdoor parking space available in Chicago's Bucktown neighborhood.
      2300-2324 W Bloomingdale Ave, Chicago, IL 60647
      View Details

    Similar Nearby for Lease

    • $2,850 /Mo

      Renovated Commercial Space with Garage

      East Humboldt Park commercial space with renovated storefront and garage.
      2537 W North Ave, Chicago, IL 60647
      View Details
    • $28 SF/Yr
      12,700 SF

      Medical Office Space with Parking

      4,250 SF medical office with parking and security.
      3650 W Armitage Ave, Chicago, IL 60647
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in Chicago, Illinois.
      2700 North Elston Ave, Chicago, IL 60647
      View Details
    • Contact for pricing

      Storefront Available on North Avenue

      2,975 SF storefront suitable for various businesses.
      2409 W North Ave, Chicago, IL 60647
      View Details
    • Contact for pricing
      6,000 SF

      Logan Square Retail Space Available

      6,000 SF raw commercial space for lease in Logan Square.
      2746-2756 N Milwaukee Ave, Chicago, IL 60647
      View Details
    • Contact for pricing
      10,000 SF

      Retail Space Near CTA Station

      Retail space with parking and high ceilings near transportation.
      2272 N Milwaukee Ave, Chicago, IL 60647
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2317 Milwaukee Ave, Unit P-4
    Chicago, IL 60647-7045
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!