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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Residential income homes
2531 Flournoy St, Chicago, IL 60612-5277
Individually Owned
18-yr Hold
Property ID
US28-3862335
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1888
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,514 SF
Lot
0.07 ac (3,125 SF)
APN
16-13-406-012
UPID
US28-3862335
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
$668k
Blend (final)
Blend
$590k
Owner & transaction history
Julius Ibraheem · 18 yrs held
Julius Ibraheem
since 2008
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$960,000
+41.8%
Neighborhood: shopping center
$840,000
+23.8%
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
APARTMENT HOUSE (5+ UNITS)
$680,000
Current use
COMMERCIAL (GENERAL)
$960,000
Change: +42% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$840,000
Change: +24% · Conversion: Difficult
Blend value · Realmo final
$590k
Range $531k – $649k · ±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
$168 / 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
$10,026
Tax year 2022
Assessed value
$51,999
Assessed 2022
Previous assessed
$51,999
+0.0% YoY
Effective rate
19.28%
On assessed value
Assessed land
$6,562
Assessed improvement
$45,437
Land market value
$65,620
Improvement market value
$454,370
Total market value
$519,990
Applied tax rate
77,100.0000
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
1888
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Stories
2
Units
3
Bathrooms
3
Total area
3,514 SF
Lot
0.07 ac (3,125 SF)
APN
16-13-406-012
UPID
US28-3862335
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
$680,000
COMMERCIAL (GENERAL)
Est. value
$960,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$840,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1888
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
2
Units
3
Bathrooms
3
Lot
0.07 ac
Current owner
From public records · entity-resolved
Julius Ibraheem
Individual
Mailing address
1149 N MASSASOIT AVE, CHICAGO, IL 60651-2659
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 6, 2008
$300,000
Julius Ibraheem
Jp Morgan Chase Bank
Special Warranty Deed
$394,731 · Citimortgage INC
Oct 20, 2004
—
Mortgage Electronic Registrati
Sheriff Of Cook County
Trustees Deed
related
—
Oct 4, 2002
$465,000
Kazimierz Jaworski
Boguslawski,konstanty
Grant Deed
$400,000 · Option One Mortgage Corp
Sep 18, 2002
$545,900
Kazimierz Jaworski
Bogulawski,konstanty
Grant Deed
$491,300 · First Capital Mortgage Corp
Sep 5, 2000
$135,000
Konstanty Boguslawski
Rodia,lucille
Grant Deed
$121,500 · Banc Chicago
Jan 25, 2000
—
Lucille Rodia
Rocco,augie
Quit Claim Deed
related
—
—
—
Konstanty Boguslawski
—
Deed Of Trust
related
$66,000 · First Security Bank Fsb
—
—
Konstanty Boguslawski
—
Deed Of Trust
related
$120,000 · First Security Bank Fsb
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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