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Property profile & analytics
OFF-MARKET
Estimated value
$200,000,000
Motels
301 En Water St Chicago, IL 60611-4534
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US28-0273463
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1991
Total area
627,500 SF
Lot
2.33 ac (101,495 SF)
APN
17-10-221-001
UPID
US28-0273463
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
$200.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$141.76M
Blend (final)
Blend
$200.00M
Owner & transaction history
Fidano Cohen LLC · 1 yrs held
Fidano Cohen LLC
since 2024
Last sale
$200.0M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$273.2M
+152.7%
Neighborhood: shopping center
$150.0M
+38.8%
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
$200,000,000
ML approach
$200,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$273,180,000
Change: +153% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$150,025,000
Change: +39% · Conversion: Difficult
Blend value · Realmo final
$200.00M
Range $180.00M – $220.00M · ±10% · vs last sale $200.00M (Nov 8 2024)
Last sale anchor
$200.00M
Nov 8 2024
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
$319 / 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
$7,766,824
Tax year 2022
Assessed value
$37,761,264
Assessed 2022
Previous assessed
$18,605,343
+103.0% YoY
Effective rate
20.57%
On assessed value
Assessed land
$6,986,237
Assessed improvement
$30,775,027
Land market value
$27,944,948
Improvement market value
$123,100,108
Total market value
$151,045,056
Applied tax rate
74,004.0000
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
1991
Heating
NONE
Stories
31
Total area
627,500 SF
Lot
2.33 ac (101,495 SF)
APN
17-10-221-001
UPID
US28-0273463
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
COMMERCIAL (GENERAL)
Est. value
$273.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$150.0M
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
1991
Heating
NONE
Stories
31
Lot
2.33 ac
Current owner
From public records · entity-resolved
Fidano Cohen LLC
Entity
Mailing address
301 EN WATER ST, CHICAGO, IL 60611-4534
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 8, 2024
—
Fidano Cohen LLC
Misg Chicago LLC
Deed
—
Nov 8, 2024
$200,000,000
Misg Chicago LLC
The Chicago Land LLC
Special Warranty Deed
—
Nov 13, 2017
—
Thr Chicago Land LLC
—
Grant Deed
related
$140,000,000 · Bank Of America
Jul 14, 2010
—
Cityfront Hotel Associates LP
—
Deed Of Trust
related
$158,500,000 · Gsremp Origination Joint Holdi
Apr 7, 2009
$52,538,500
Thr Chicago Land LLC
Hotel Land Co LLC
Grant Deed
$54,000,000 · Westdeutsche Immobilienbank
—
—
Cityfront Hotel Associates LP
—
Deed Of Trust
related
$171,000,000 · Wells Fargo Bank
—
—
Cityfront Hotel Associates LP
—
Deed Of Trust
related
$162,000,000 · Metropolitan Life Insurance
—
—
Cityfront Hotel Associates LP
—
Deed Of Trust
related
$158,500 · Gsremp Origination Joint Holdi
—
—
Thr Chicago Land LLC
—
Deed Of Trust
related
$68,000,000 · J P Morgan Chase Bank
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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