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Property profile & analytics
OFF-MARKET
Estimated value
$40,595,000
Office buildings
250 Wacker Dr Ste 200 Chicago, IL 60606-5800
Individually Owned
14-yr Hold
Free & Clear
Property ID
US28-0764974
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1958
Total area
248,000 SF
Lot
0.33 ac (14,190 SF)
APN
17-16-215-002
UPID
US28-0764974
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
by Request
Blend (final)
Blend
$40.60M
Owner & transaction history
Wacker Chicago R E Holdi South · 14 yrs held
Wacker Chicago R E Holdi South
since 2011
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$59.3M
+77.5%
Apartment house (5+ units)
$42.7M
+27.7%
Retail stores
$36.1M
+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
$33,400,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$59,290,000
Change: +78% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$42,660,000
Change: +28% · Conversion: Easy
RETAIL STORES
$36,100,000
Change: +8% · Conversion: Moderate
AUTO REPAIR, GARAGE
$29,710,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$40.60M
Range $36.54M – $44.65M · ±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
$164 / 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
$3,304,742
Tax year 2022
Assessed value
$16,067,216
Assessed 2022
Previous assessed
$14,935,026
+7.6% YoY
Effective rate
20.57%
On assessed value
Assessed land
$1,685,062
Assessed improvement
$14,382,154
Land market value
$6,740,248
Improvement market value
$57,528,616
Total market value
$64,268,864
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
1958
Heating
NONE
Stories
14
Total area
248,000 SF
Lot
0.33 ac (14,190 SF)
APN
17-16-215-002
UPID
US28-0764974
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
$33.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$59.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$42.7M
RETAIL STORES
Est. value
$36.1M
AUTO REPAIR, GARAGE
Est. value
$29.7M
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
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
1958
Heating
NONE
Stories
14
Lot
0.33 ac
Current owner
From public records · entity-resolved
Wacker Chicago R E Holdi South
Individual
Free & Clear · 14 yrs held
Mailing address
250 S WACKER DR STE #200, CHICAGO, IL 60606-5800
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 16, 2011
$90,000,000
Wacker Chicago R E Holdi South
Aewp V 250 S Wacker LLC
Grant Deed
—
Apr 19, 2007
$38,000,000
Aewp V 250 S Wacker LLC
Mercantile Finl Center LLC
Warranty Deed
$38,000,000 · Aew Partners V LP
Apr 19, 2007
—
Mercantile Finl Center LLC
644 S Clark
Quit Claim Deed
related
—
Jul 10, 2006
$717,000
644 S Clark LP
Mercantile Financial Center LLC
Warranty Deed
$350,000 · Amalgamated Bank Of Chicago
May 3, 2006
—
Mercantile Financial Center Ll
—
Grant Deed
related
$45,000,000 · Greatbank Chicago
Apr 15, 2005
$16,750,000
Mercantile Financial Center LLC
Jpmc 2001-fl1 Loop Tower LLC
Special Warranty Deed
$13,500,000 · Republic Bank Of Chicago
Dec 13, 2004
—
Jpmc 2001-fl1 Loop Tower LLC
South Wacker Drive Investors L
Grant Deed
related
—
Mar 31, 2000
$17,230,000
South Wacker Drive Investors
Wacker Drive Associates LP
Grant Deed
related
—
—
—
Aewp 250 S Wacker LLC
—
Deed Of Trust
related
$67,500,000 · Capmark Bank
—
—
South Wacker Drive Investors
—
Deed Of Trust
related
$16,290,000 · Morgan Guaranty Trust Co Ny
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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