2501 Western Ave Chicago, IL 60608-4807
Retail space
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Entity Owned
2-yr Hold
~
Est. High Equity
No photos on file
For Sale
Contact for pricing
2501 Western Ave, Chicago, IL 60608-4807
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Estimated value (blended)
$1.27M
Range $1.14M – $1.39M (±10%)
Implied cap rate
7.50%
In-place · NOI ÷ last sale
Property ID
US28-0034449
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1928
Total area
6,900 SF
Lot
0.09 ac (3,984 SF)
APN
17-30-120-001
UPID
US28-0034449
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Restaurant
-
Restaurant
-
Auto Repair Shop
-
Hardware & Home Improvement Production Facility
-
Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.24M
CAP Approach
CAP
$1.47M
Comparable Approach
Comparable
$1.05M
Blend (final)
Blend
$1.27M
Owner & transaction history
since 2023
Last sale
$1.2M
7 recorded transactions
Zoning & alternative use
Top alternative use upside
Neighborhood: shopping center
$1.7M
+19.2%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 21 comparables with addresses
3 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$1.27M
Value range
$1.14M – $1.39M
±10% around blend
Estimated value / SF
$183 / SF
Confidence
High
21 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
100
$1.14M
blend $1.27M
$1.39M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
6,900 SF
Lot area
0.09 ac
Year built
1928
Stories
2
APN
17-30-120-001
Assessed value
$199,076
Annual tax
$40,946
3
Income approach: direct capitalization
Partial preview
Income approach indication
$1.47M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$1.59M
@ 6.5% CAP return
$1.47M
@ 7% CAP return
$1.37M
4
Sales comparison
Partial preview
Sales approach indication
$674k
Weighted, 20 comps · high confidence
Evidence
21 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
1.8 mi away · 7,900 SF
2.9 mi away · 5,800 SF
3.5 mi away · 6,000 SF
3.5 mi away · 8,800 SF
4.4 mi away · 7,500 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.27M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 50 sales
$201
-9%
Submarket 2181 sales
$146
+26%
County 2350 sales
$149
+23%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $183/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Neighborhood: Shopping Center
Gross theoretical uplift
+19%
vs current-use indication
Retail Stores · current use
Apartment House (5+ Units)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 21 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Implied cap rate
7.50%
Implied, in-place cap rate for this retail space
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 7.50%
9.0%
NOI (est.)
$84k *
Last sale · Nov 2023
$1.20M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.12M
Move the market yield to see immediate price impact.
Value / SF
$162
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
7.00%7.50%8.00%
$76k
$1.08M
$1.01M
$945k
$84k
$1.20M
$1.12M
$1.05M
$92k
$1.32M
$1.23M
$1.16M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
21 found
High confidence · county-verified
Closest comparable
$508k
1.2 mi · Sep 2025 · $89/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$40,946
Tax year 2022
Assessed value
$199,076
Assessed 2022
Previous assessed
$199,076
+0.0% YoY
Effective rate
20.57%
On assessed value
Assessed land
$19,920
Assessed improvement
$179,156
Land market value
$79,680
Improvement market value
$716,624
Total market value
$796,304
Applied tax rate
77,001.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Status
For Sale
Year built
1928
Heating
NONE
Stories
2
Total area
6,900 SF
Lot
0.09 ac (3,984 SF)
APN
17-30-120-001
UPID
US28-0034449
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
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1928
Heating
NONE
Stories
2
Lot
0.09 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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