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Property profile & analytics
FOR LEASE
Office buildings
350 N Clark St, Chicago, IL 60654
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US28-1799673
For Lease
1 / 4
$17,485,000
350 N Clark St, Chicago, IL 60654
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1915
Total area
108,300 SF
Lot
0.35 ac (15,040 SF)
APN
17-09-406-003
UPID
US28-1799673
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
-
Ghotanian Rene DDS Dental Office
-
Cleverbridge (Bike/Boat/Book/etc) Store Corporate Office
-
onPeak Travel Agency
-
The Gathering Group Event Planning Wedding Service
-
Marinela Dilo Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$17.49M
Owner & transaction history
Thompson Building De LLC · 12 yrs held
Thompson Building De LLC
since 2014
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$25.9M
+57.2%
Apartment house (5+ units)
$18.6M
+13.1%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$16,470,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$25,890,000
Change: +57% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$18,630,000
Change: +13% · Conversion: Easy
RETAIL STORES
$15,765,000
Change: -4% · Conversion: Moderate
Blend value · Realmo final
$17.49M
Range $15.74M – $19.23M · ±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
$161 / 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
$1,145,816
Tax year 2022
Assessed value
$5,570,804
Assessed 2022
Previous assessed
$5,206,286
+7.0% YoY
Effective rate
20.57%
On assessed value
Assessed land
$752,000
Assessed improvement
$4,818,804
Land market value
$3,008,000
Improvement market value
$19,275,216
Total market value
$22,283,216
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
For Lease
Year built
1915
Heating
NONE
Stories
8
Total area
108,300 SF
Lot
0.35 ac (15,040 SF)
APN
17-09-406-003
UPID
US28-1799673
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
OFFICE BUILDING Current
Est. value
$16.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$25.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$18.6M
RETAIL STORES
Est. value
$15.8M
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
1915
Heating
NONE
Stories
8
Lot
0.35 ac
Current owner
From public records · entity-resolved
Thompson Building De LLC
Entity
Mailing address
350 N CLARK ST STE #400, CHICAGO, IL 60654-4980
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2024
—
Thompson Building De LLC
—
Deed
related
—
Feb 6, 2014
—
Thompson Building De LLC
Thompson Building LLC
Quit Claim Deed
related
$25,590,000 · Cantor Com'l R/e Lndg
Aug 15, 2006
$1,900,000
Thompson Building LLC
Trust 102509
Grant Deed
$7,600,000 · Lasalle National Bank
Jul 7, 1999
—
Lasalle National Bank Trustee
—
Deed Of Trust
related
$22,000,000 · First Allmerica Financial Life
—
—
Thompson Building LLC
—
Deed Of Trust
related
$15,000,000 · Lasalle National Bank
—
—
Thompson Building LP
—
Deed Of Trust
related
$2,500,000 · Lasalle National Bank
—
—
Thompson Building LLC
—
Deed Of Trust
related
$17,800,000 · Tcf National Bank
—
—
Thompson Building LLC
—
Deed Of Trust
related
$17,800,000 · Lasalle National 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.
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?”
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