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Property profile & analytics
OFF-MARKET
Estimated value
$3,820,000
Retail space
3935 Elston Ave Chicago, IL 60618-4289
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US28-0763669
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1935
Total area
40,500 SF
Lot
0.11 ac (5,000 SF)
APN
13-23-200-010
UPID
US28-0763669
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
-
Good Time Photography Wedding Service Photography Service
-
Chicago Sound Services Tech Support Center Rental Equipment Company
-
Sooper Records Recording Studio
-
Intercom Security Store Security Service
-
Make Amazing Marketing & Advertising IT Consulting Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.21M
Blend (final)
Blend
$3.82M
Owner & transaction history
3935 N Elston LLC · 20 yrs held
3935 N Elston LLC
since 2006
6 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$6,295,000
Current use
OFFICE BUILDING
$5,455,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$3.82M
Range $3.44M – $4.20M · ±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
$94 / 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
$44,640
Tax year 2022
Assessed value
$216,263
Assessed 2022
Previous assessed
$216,263
+0.0% YoY
Effective rate
20.64%
On assessed value
Assessed land
$22,500
Assessed improvement
$193,763
Land market value
$90,000
Improvement market value
$775,052
Total market value
$865,052
Applied tax rate
71,128.0000
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
Retail space
Use group
STORE, RETAIL OUTLET
Status
Off-Market
Year built
1935
Heating
NONE
Stories
2
Total area
40,500 SF
Lot
0.11 ac (5,000 SF)
APN
13-23-200-010
UPID
US28-0763669
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
RETAIL STORES Current
Est. value
$6.3M
OFFICE BUILDING
Est. value
$5.5M
RETAIL STORES Current
OFFICE BUILDING
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
1935
Heating
NONE
Stories
2
Lot
0.11 ac
Current owner
From public records · entity-resolved
3935 N Elston LLC
Entity
Mailing address
3927 N CENTRAL PARK AVE, CHICAGO, IL 60618-4104
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 3, 2018
—
3935 N Elston LLC
—
Loan Modification, Consolidation And Extension
related
$10,000,000 · Miscellaneous Ins Co
Jun 14, 2018
—
3935 N Elston LLC
—
Grant Deed
related
$2,800,000 · Miscellaneous Ins Co
Mar 7, 2018
—
3935 N Elston LLC
—
Grant Deed
related
$2,800,000 · Miscellaneous Ins Co
Nov 12, 2010
—
3935 N Elston LLC
—
Deed Of Trust
related
$1,300,000 · Bank Financial Fsb
Jun 13, 2006
—
3935 N Elston LLC
Trust 4888
Grant Deed
related
—
Oct 27, 1998
—
Lasalle Nat'l Bank Trustee
—
Deed Of Trust
related
$1,425,000 · Lasalle Bank 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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