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Property profile & analytics
FOR LEASE
Retail space
3948 N Sheridan Rd, Chicago, IL 60613
Entity Owned
8-yr Hold
Free & Clear
Property ID
US28-1615066
For Lease
1 / 3
$1,460,000
3948 N Sheridan Rd, Chicago, IL 60613
View Listing →
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1905
Total area
14,700 SF
Lot
0.28 ac (12,150 SF)
APN
14-20-201-022
UPID
US28-1615066
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
-
H Rossman Physician Medical Clinic
-
Hugh Cole Social Worker Practitioner Service Location
-
Caleb Reyes Physician
-
Melissa English Bailey Physician Medical Clinic
-
Dr. Wren Logan Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.57M
Blend (final)
Blend
$1.46M
Owner & transaction history
3948 Sheridan LLC · 8 yrs held
3948 Sheridan LLC
since 2017
3 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
$2,140,000
Current use
OFFICE BUILDING
$1,980,000
Change: -7% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,760,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$1.46M
Range $1.31M – $1.61M · ±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
$99 / 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
$77,448
Tax year 2022
Assessed value
$363,619
Assessed 2022
Previous assessed
$363,619
+0.0% YoY
Effective rate
21.30%
On assessed value
Assessed land
$182,250
Assessed improvement
$181,369
Land market value
$729,000
Improvement market value
$725,476
Total market value
$1,454,476
Applied tax rate
73,117.0000
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
For Lease
Year built
1905
Heating
NONE
Stories
2
Total area
14,700 SF
Lot
0.28 ac (12,150 SF)
APN
14-20-201-022
UPID
US28-1615066
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
$2.1M
OFFICE BUILDING
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$1.8M
RETAIL STORES Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1905
Heating
NONE
Stories
2
Lot
0.28 ac
Current owner
From public records · entity-resolved
3948 Sheridan LLC
Entity
Free & Clear · 8 yrs held
Mailing address
125 N HALSTED ST STE #203, CHICAGO, IL 60661-2159
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 8, 2017
—
3948 Sheridan LLC
Trust 123300-07
Grant Deed
related
—
Jan 14, 1998
—
American Natl Bk & Tr Co Ttee
Parkway Bank & Trust Co Ttee
Grant Deed
related
—
—
—
Trust 123300--07
—
Deed Of Trust
related
$2,100,000 · Lake Forest Bank & Trust Co
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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