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Property profile & analytics
OFF-MARKET
Estimated value
$765,000
Garden apartment buildings
2413 53rd Ave, Cicero, IL 60804-2986
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US28-1201299
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1923
Total area
6,712 SF
Lot
0.14 ac (6,300 SF)
APN
16-28-119-017
UPID
US28-1201299
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$714k
Blend (final)
Blend
$765k
Owner & transaction history
2413 19 S 53rd Ave LLC · 1 yrs held
2413 19 S 53rd Ave LLC
since 2025
Last sale
$775,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$975,000
+10.5%
Office building
$905,000
+2.2%
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 Cicero submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cicero 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
APARTMENT HOUSE (5+ UNITS)
$885,000
Current use
RETAIL STORES
$975,000
Change: +10% · Conversion: Difficult
OFFICE BUILDING
$905,000
Change: +2% · Conversion: Moderate
AUTO REPAIR, GARAGE
$805,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$765k
Range $689k – $842k · ±10% · vs last sale $775k (Mar 25 2025)
Last sale anchor
$775k
Mar 25 2025
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
$114 / 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
$18,934
Tax year 2022
Assessed value
$43,353
Assessed 2022
Previous assessed
$46,629
-7.0% YoY
Effective rate
43.67%
On assessed value
Assessed land
$9,450
Assessed improvement
$33,903
Land market value
$94,500
Improvement market value
$339,030
Total market value
$433,530
Applied tax rate
15,001.0000
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1923
Heating
NONE
Stories
2
Total area
6,712 SF
Lot
0.14 ac (6,300 SF)
APN
16-28-119-017
UPID
US28-1201299
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
$885,000
RETAIL STORES
Est. value
$975,000
OFFICE BUILDING
Est. value
$905,000
AUTO REPAIR, GARAGE
Est. value
$805,000
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
OFFICE BUILDING
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
1923
Heating
NONE
Stories
2
Lot
0.14 ac
Current owner
From public records · entity-resolved
2413 19 S 53rd Ave LLC
Entity
Mailing address
8628 40TH ST, LYONS, IL 60534-1004
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 25, 2025
$775,000
2413 19 S 53rd Ave LLC
David W Lovitt SR Trust
Deed
$375,000 · First Eagle Bank
Dec 13, 2018
—
Lovitt,david W SR Trust
Lovitt,david W SR & Irene K
Quit Claim Deed
related
—
Jul 12, 2017
—
David W Lovitt SR
—
Deed
related
—
—
—
David W Lovitt SR.
—
Deed Of Trust
related
$297,000 · Bank Financial Fsb
—
—
David W Lovitt SR
—
Loan Modification
related
—
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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