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Property profile & analytics
OFF-MARKET
Estimated value
$715,000
Bowling alleys
3949 Armitage Ave Chicago, IL 60647-3450
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US28-5191242
Property profile
Verified
Property type
Bowling alleys
Use group
BOWLING ALLEY
Year built
1924
Total area
5,900 SF
Lot
0.15 ac (6,600 SF)
APN
13-35-300-003
UPID
US28-5191242
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
-
Gallery 3949 Hotel & Motel Resort
-
E & E Builders Group Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$745k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$715k
Owner & transaction history
My Three Roses Armitage LLC · 3 yrs held
My Three Roses Armitage LLC
since 2023
Last sale
$685,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.0M
+295.4%
Auto repair, garage
$835,000
+220.5%
Commercial (general)
$770,000
+194.9%
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
$745,000
ML approach
$745,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,030,000
Change: +295% · Conversion: Difficult
AUTO REPAIR, GARAGE
$835,000
Change: +220% · Conversion: Difficult
COMMERCIAL (GENERAL)
$770,000
Change: +195% · Conversion: Difficult
RETAIL STORES
$585,000
Change: +124% · Conversion: Difficult
Blend value · Realmo final
$715k
Range $644k – $787k · ±10% · vs last sale $685k (May 31 2023)
Last sale anchor
$685k
May 31 2023
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
$121 / 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
$14,784
Tax year 2022
Assessed value
$71,633
Assessed 2022
Previous assessed
$71,633
+0.0% YoY
Effective rate
20.64%
On assessed value
Assessed land
$29,700
Assessed improvement
$41,933
Land market value
$118,800
Improvement market value
$167,732
Total market value
$286,532
Applied tax rate
71,172.0000
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
Bowling alleys
Use group
BOWLING ALLEY
Status
Off-Market
Year built
1924
Heating
NONE
Stories
1
Total area
5,900 SF
Lot
0.15 ac (6,600 SF)
APN
13-35-300-003
UPID
US28-5191242
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
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$835,000
COMMERCIAL (GENERAL)
Est. value
$770,000
RETAIL STORES
Est. value
$585,000
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1924
Heating
NONE
Stories
1
Lot
0.15 ac
Current owner
From public records · entity-resolved
My Three Roses Armitage LLC
Entity
Mailing address
2417 N MILWAUKEE AVE, CHICAGO, IL 60647-2627
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 31, 2023
$685,000
My Three Roses Armitage LLC
Maer Properties LLC
Warranty Deed
—
Jul 13, 2022
$650,000
Maer Properties LLC
Spauldingdale LLC
Warranty Deed
—
Sep 16, 2019
—
Spauldingdale LLC
—
Deed
related
—
Jul 3, 2019
—
Spauldingdale LLC
Bowgan Square LLC
Quit Claim Deed
related
—
Sep 10, 2018
—
Bowgan Square LLC
—
Deed
related
$287,650 · Heartland Bk
Jul 11, 2017
$320,000
Bowgan Square LLC
Foca,constantin
Warranty Deed
$530,000 · Heartland Bk
Jul 11, 2017
—
Constantin Foca
Vrinceanu,vasille
Quit Claim Deed
related
—
Mar 3, 2009
$55,000
Constantin Foca
Frank,robin
Warranty Deed
—
Mar 17, 2000
$170,000
Constantin Foca
Piatigorsky,gregory
Grant Deed
—
—
—
Spauldingdale LLC
—
Loan Modification
related
—
—
—
Robin F Pevitz
—
Deed Of Trust
related
$120,000 · Lake Forest Bank & Trust Co
—
—
Bowgan Square LLC
—
Loan Modification
related
$287,650 · Heartland Bk
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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