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Property profile & analytics
OFF-MARKET
Estimated value
$3,055,000
Banks
2801 Narragansett Ave Chicago, IL 60634
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US28-0116897
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1983
Lot
0.35 ac (15,053 SF)
APN
13-29-121-013
UPID
US28-0116897
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
$3.08M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.06M
Owner & transaction history
Bhhg Reading LLC · 3 yrs held
Bhhg Reading LLC
since 2023
Last sale
$3.0M
5 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
$3,075,000
ML approach
$3,075,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.06M
Range $2.75M – $3.36M · ±10% · vs last sale $3.04M (May 31 2023)
Last sale anchor
$3.04M
May 31 2023
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
—
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
$16,353
Tax year 2022
Assessed value
$79,507
Assessed 2022
Previous assessed
$79,538
0.0% YoY
Effective rate
20.57%
On assessed value
Assessed land
$67,738
Assessed improvement
$11,769
Land market value
$270,952
Improvement market value
$47,076
Total market value
$318,028
Applied tax rate
71,001.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1983
Heating
NONE
Lot
0.35 ac (15,053 SF)
APN
13-29-121-013
UPID
US28-0116897
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
Building & site characteristics
From public records
Year built
1983
Heating
NONE
Lot
0.35 ac
Current owner
From public records · entity-resolved
Bhhg Reading LLC
Entity
Mailing address
120 S SIERRA AVE, SOLANA BEACH, CA 92075-1873
Ownership since
2023
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
May 31, 2023
$3,035,000
Bhhg Reading LLC
Cre Jv Mixed Fifteen Il 3 Branch Ho
Special Warranty Deed
—
Nov 8, 2016
—
Cre Jv Mixed Fifteen Il 3 Branch Hl
—
Deed
related
—
Nov 20, 2006
$1,564,500
Jv Mixed Fifteen Br Hol Cre
Charter One Bank NA
Grant Deed
—
Nov 20, 2006
—
Jv Mixed Fifteen Il 3 B Cre
Cre Jv Mixed Fifteen Br Holdin
Quit Claim Deed
related
—
—
—
Cre Jv Mixed Fifteen Il 3 Bran
—
Deed Of Trust
related
$7,191,000 · Wells Fargo Bk
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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