Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2833 Wls St Chicago, IL 60616-2755

    • Residential income homes
    • 5,214 SF
    • 0.07 lot acres
    OFF-MARKET
    Value Estimations
    $755,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1326037
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Residential income homes

    Property Details for 2833 Wls St

    Year built
    1888
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.07 lot acres
    Property size
    5,214 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    17-28-418-013
    APU
    1728418013

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $827,000
      Market price range: $828k - $1.43M
      AI Estimate
      $514,000
      Market price range: $514k - $868k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,115,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,245,000
      Change: +12% Conversion: Difficult
      RETAIL STORES
      $1,220,000
      Change: +9% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6326
    Latitude
    41.8417
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $12,793
    $13,750
    $48,448
    $62,198
    -
    $137,500
    $484,480
    $621,980

    Comparable in this City

    • Value Estimation by Request
      1,710 SF

      3122 Wls St, Unit 1

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,710 SF
      3122 Wls St, Chicago, IL 60616-3618
      View Details
    • Value Estimation
      $505,000
      3,192 SF

      733 17th Pl

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,192 SF
      733 17th Pl, Chicago, IL 60616-1154
      View Details
    • Value Estimation
      $505,000
      2,831 SF

      726 17th St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,831 SF
      726 17th St, Chicago, IL 60616-1135
      View Details
    • Value Estimation by Request
      2,184 SF

      335 23rd Pl

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,184 SF
      335 23rd Pl, Chicago, IL 60616-1918
      View Details
    • Value Estimation
      $680,000
      3,600 SF

      327 23rd Pl

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,600 SF
      327 23rd Pl, Chicago, IL 60616-2180
      View Details
    • Value Estimation by Request
      2,420 SF

      248 23rd Pl

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,420 SF
      248 23rd Pl, Chicago, IL 60616-1908
      View Details

    Similar Nearby for Sale

    • $1,200,000
      0.07 Acres

      Chinatown 6-Unit Brick Building

      Well-maintained, fully occupied 6-unit building in Chicago's Chinatown.
      248 W 26Th St, Chicago, IL 60616
      View Details
    • $850,000

      Three-Unit Building Near Chinatown

      Three-unit building with central air and heat, near Chinatown.
      2569 S Emerald Ave, Chicago, IL 60616
      View Details
    • New
      $820,000
      7,012 SF

      Bridgeport Mixed-Use Investment Opportunity

      Mixed-use property with residential units and retail space.
      635-637 W 26Th St, Chicago, IL 60616
      View Details
    • Contact for pricing
      648 SF

      New Construction Senior Living Condominium

      New 110-unit senior living condominium development in Chicago, Illinois.
      2128 S Tan Ct, Chicago, IL 60616
      View Details
    • Contact for pricing
      1,700 SF

      Lake Meadows Condo Units Available

      Recently renovated condo with three bedrooms near downtown and lake.
      601 E 32Nd St, Chicago, IL 60616
      View Details
    • Contact for pricing
      500 SF

      Studio with Panoramic Downtown View

      Studio with north-facing views, modern amenities, and convenient location.
      2901 S Michigan Ave, Chicago, IL 60616
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,275 SF

      Spacious Unit with City Views

      Bright unit with modern kitchen, balconies, and city views.
      221 E 31St St, Chicago, IL 60616
      View Details
    • $2,500 /Mo

      Condo with Unobstructed East Views

      Two-bedroom condo with modern amenities, available September 2nd.
      1845 S Michigan Ave, Chicago, IL 60616
      View Details
    • $3,350 /Mo

      Updated Condo with Lakefront Views

      Updated 2-bedroom condo with lake views in Chicago's South Loop.
      1841 S Calumet Ave, Chicago, IL 60616
      View Details
    • Contact for pricing
      900 SF

      South Loop Loft with Views

      Bright, spacious South Loop loft with west-facing views and balcony.
      1620 S Michigan Ave, Chicago, IL 60616
      View Details
    • Contact for pricing
      27,000 SF

      Industrial Service Facility with Yard

      Industrial service facility with paved and secured yard near McCormick.
      2424 South Wabash Ave, Chicago, IL 60616
      View Details
    • $26 SF/Yr

      South Loop Freestanding Commercial Space

      High-visibility commercial space in South Loop, ideal for diverse businesses.
      2441 S State St, Chicago, IL 60616
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2833 Wls St
    Chicago, IL 60616-2755
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.