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Property profile & analytics
OFF-MARKET
Estimated value
$3,830,000
Motels
28 Franklin St Chicago, IL 60606-3618
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US28-0978838
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1891
Total area
31,328 SF
Lot
0.18 ac (8,050 SF)
APN
17-09-453-012
UPID
US28-0978838
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
Current use
Occupant on record · Public records
-
Hyatt Place Chicago/Downtown-The Loop Hotel & Motel
-
Chicago Yacht Rental - Anchor Boat Rental Service
-
United Center Gym & Fitness Center Sports Field & Court
-
Together by Hyatt Business Service Center Conference Center
-
G And U Lock Change Hardware & Home Improvement General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.63M
Comparable Approach
Comparable
$3.78M
Blend (final)
Blend
$3.83M
Owner & transaction history
Summit Hospitality 132 LLC · 9 yrs held
Summit Hospitality 132 LLC
since 2016
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$3,930,000
6.5%
$3,625,000
7%
$3,365,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$5,395,000
Current use
APARTMENT HOUSE (5+ UNITS)
$5,390,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$4,560,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$3.83M
Range $3.45M – $4.21M · ±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
$122 / 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
$823,823
Tax year 2022
Assessed value
$4,005,317
Assessed 2022
Previous assessed
$4,005,317
+0.0% YoY
Effective rate
20.57%
On assessed value
Assessed land
$855,312
Assessed improvement
$3,150,005
Land market value
$3,421,248
Improvement market value
$12,600,020
Total market value
$16,021,268
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1891
Heating
NONE
Stories
4
Total area
31,328 SF
Lot
0.18 ac (8,050 SF)
APN
17-09-453-012
UPID
US28-0978838
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
HOTEL/MOTEL Current
Est. value
$5.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.4M
RETAIL STORES
Est. value
$4.6M
HOTEL/MOTEL Current
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
1891
Heating
NONE
Stories
4
Lot
0.18 ac
Current owner
From public records · entity-resolved
Summit Hospitality 132 LLC
Entity
Mailing address
12600 HL COUNTRY BLVD, AUSTIN, TX 78738-6723
Ownership since
2016
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
Nov 1, 2016
—
Summit Hospitality 132 LLC
Lc,palmetto Hospitality Of Chicago L
Quit Claim Deed
related
—
Feb 11, 2014
—
Palmetto Hospitality Of Chicago L
—
Grant Deed
related
$33,784,000 · Bank Of America
Dec 19, 2013
$3,700,000
Palmetto Hospitality Of Chicago L
Pb Il Oreo LLC
Quit Claim Deed
related
—
Sep 14, 2011
—
Pb Il Oreo
Intercounty Judicial Sales Cor
Trustees Deed
related
—
Jun 11, 2007
$3,800,000
Franklin Hotel Partners LLC
Trust 5914
Grant Deed
$5,175,000 · Private Bank & Trust Co
Apr 30, 2002
$1,700,000
Amalgamated Bank Chicago
Lasalla Bank NA Trustee
Grant Deed
related
$1,500,000 · Hfs Bank Fsb
—
—
Crescendo Companies LLC
—
Deed Of Trust
related
$1,000,000 · Privatebank & Trust
—
—
Trust 5914
—
Deed Of Trust
related
$4,000,000 · Bank One NA
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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