Entity Owned 
For Sale
1 / 2
$2,690,000
2946 N Central Ave, Chicago, IL 60634
View Listing →
Property summary
AI-generated overview
The property is a net-leased commercial facility comprising a 7,010-square-foot building along with an associated parking lot. It was fully rehabilitated during 2023–2024. The building is configured for a laundry/cleaning use and is operated under a long-term NNN-style lease arrangement with a tenant historically using the site as a SpinXpress Laundry location.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1977
Total area
3,100 SF
Lot
0.57 ac (24,676 SF)
APN
13-29-223-042
UPID
US28-1248625
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$365k
CAP Approach
CAP
$660k
Comparable Approach
Comparable
$544k
Blend (final)
Blend
$505k
Owner & transaction history
since 2013
7 recorded transactions
Zoning & alternative use
Top alternative use upside
Neighborhood: shopping center
$740,000
+103.0%
Office building
$420,000
+14.4%
Auto repair, garage
$370,000
+1.7%
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.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 7 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$505k
Value range
$455k – $556k
±10% around blend
Estimated value / SF
$163 / SF
Confidence
High
7 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
70
Income certainty
100
$455k
blend $505k
$556k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,100 SF
Lot area
0.57 ac
Year built
1977
Stories
1
APN
13-29-223-042
Assessed value
$174,543
Annual tax
$40,958
3
Income approach: direct capitalization
Partial preview
Income approach indication
$660k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$715k
@ 6.5% CAP return
$660k
@ 7% CAP return
$615k
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$40,958
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$227k
Weighted, 7 comps · high confidence
Evidence
7 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
0.4 mi away · 3,200 SF
0.4 mi away · 3,300 SF
1.9 mi away · 3,300 SF
2.3 mi away · 3,000 SF
2.8 mi away · 2,500 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$505k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 110 sales
$118
+38%
Submarket 2181 sales
$146
+12%
County 2350 sales
$149
+9%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $163/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
+103%
vs current-use indication
Office Building
Auto Repair, Garage
Retail Stores · current use
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
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
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 · 7 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
3.62%
Selected cap rate for this retail space
Derived from the Chicago market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 3.62%
9.0%
NOI (est.)
$97k *
* 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$2.69M
Move the market yield to see immediate price impact.
Value / SF
$867
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
3.12%3.62%4.12%
$88k
$2.81M
$2.42M
$2.13M
$97k
$3.12M
$2.69M
$2.36M
$107k
$3.43M
$2.96M
$2.60M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
7 found
High confidence · county-verified
Closest comparable
$180k
0.4 mi · Jan 2026 · $56/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$40,958
Tax year 2022
Assessed value
$174,543
Assessed 2022
Previous assessed
$174,543
+0.0% YoY
Effective rate
23.47%
On assessed value
Assessed land
$111,042
Assessed improvement
$63,501
Land market value
$444,168
Improvement market value
$254,004
Total market value
$698,172
Applied tax rate
71,078.0000
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
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1977
Heating
NONE
Stories
1
Total area
3,100 SF
Lot
0.57 ac (24,676 SF)
APN
13-29-223-042
UPID
US28-1248625
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
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
1977
Heating
NONE
Stories
1
Lot
0.57 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.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
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.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Pick a plan to open full owner contacts, all 4 valuations with methodology, the refine flow, comparable adjustments, the foot-traffic deep dive and PDF / CSV export. Cancel anytime.
