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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Office buildings
329 Dearborn St, Chicago, IL 60654-2681
Entity Owned
20-yr Hold
Absentee Owner
Free & Clear
Property ID
US28-1751595
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1965
Lot
0.2 ac (8,842 SF)
APN
17-09-410-021
UPID
US28-1751595
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
-
Foundation Room Chicago Bar & Pub Nightclub
-
House of Blues Chicago Music Venue Bar & Pub
-
Gear Shop at House of Blues Chicago Clothing Store Collectibles Store
-
FTCI Atm
-
Chicago Comedy Club Nightclub Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$565k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$565k
Owner & transaction history
Mers INC · 20 yrs held
Mers INC
since 2006
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
$565,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$565k
Range $509k – $622k · ±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
—
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
$312,505
Tax year 2022
Assessed value
$1,519,358
Assessed 2022
Previous assessed
$1,519,358
+0.0% YoY
Effective rate
20.57%
On assessed value
Assessed land
$99,440
Assessed improvement
$1,419,918
Land market value
$397,760
Improvement market value
$5,679,672
Total market value
$6,077,432
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1965
Heating
NONE
Stories
17
Lot
0.2 ac (8,842 SF)
APN
17-09-410-021
UPID
US28-1751595
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
1965
Heating
NONE
Stories
17
Lot
0.2 ac
Current owner
From public records · entity-resolved
Mers INC
Entity
Free & Clear · 20 yrs held
Mailing address
311 S WACKER DR STE #4800, CHICAGO, IL 60606-6653
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 4, 2006
$127,500
Mers INC
Michalak,michael
Grant Deed
—
Apr 4, 2006
$170,000
Michael H Michalak
Fassl,sheri
Warranty Deed
$127,500 · Chicago United Mortgage INC
Jul 25, 2005
$145,000
Adam Kriticos
Trust 2807
Grant Deed
$116,000 · Long Beach Mortgage Co
—
—
James Panebianco
—
Deed Of Trust
related
$162,000 · Argent Mortgage Co LLC
—
—
Charles M Taylor
—
Deed Of Trust
related
$50,500 · Wells Fargo Bank
—
—
Gary R Risser
—
Deed Of Trust
related
$80,680 · Joyce G Risser
—
—
Daniella Leinwand
—
Deed Of Trust
related
$100,000 · Great Lakes Cu
—
—
James Panebianco
—
Deed Of Trust
related
$276,250 · Equifirst Corp
—
—
Senthilvelu Natarajan
—
Deed Of Trust
related
$199,500 · Taylor Bean & Whitaker Mtg
—
—
Thomas J Nibbio
—
Deed Of Trust
related
$225,000 · Fifth Third Mortgage Co
—
—
James H Wright
—
Deed Of Trust
related
$40,000 · Citimortgage INC
—
—
Frank J Wiener
—
Deed Of Trust
related
$140,000 · Bank Mutual
—
—
Trust 103600-06
—
Deed Of Trust
related
$525,000 · Citibank Fsb
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.
Try Rey
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