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Property profile & analytics
OFF-MARKET
Estimated value
$6,445,000
Grocery and convenience stores
4224 Lincoln Ave Chicago, IL 60618
Entity Owned
3-yr Hold
Free & Clear
Property ID
US28-1039933
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1929
Total area
34,400 SF
Lot
1.41 ac (61,420 SF)
APN
14-18-312-029
UPID
US28-1039933
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$7.45M
Comparable Approach
Comparable
$7.77M
Blend (final)
Blend
$6.45M
Owner & transaction history
Safeway Realty LLC · 3 yrs held
Safeway Realty LLC
since 2022
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$8.7M
+63.5%
Neighborhood: shopping center
$8.2M
+53.8%
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%
$8,065,000
6.5%
$7,445,000
7%
$6,910,000
Alternative Use
Use
Estimation
RETAIL STORES
$5,350,000
Current use
APARTMENT HOUSE (5+ UNITS)
$8,745,000
Change: +63% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$8,225,000
Change: +54% · Conversion: Moderate
OFFICE BUILDING
$4,635,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$6.45M
Range $5.80M – $7.09M · ±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
$187 / 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
$244,081
Tax year 2022
Assessed value
$1,151,498
Assessed 2022
Previous assessed
$1,151,498
+0.0% YoY
Effective rate
21.20%
On assessed value
Assessed land
$923,340
Assessed improvement
$228,158
Land market value
$3,693,360
Improvement market value
$912,632
Total market value
$4,605,992
Applied tax rate
73,069.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1929
Heating
NONE
Stories
1
Total area
34,400 SF
Lot
1.41 ac (61,420 SF)
APN
14-18-312-029
UPID
US28-1039933
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
$5.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.2M
OFFICE BUILDING
Est. value
$4.6M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
NEIGHBORHOOD: SHOPPING CENTER
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
1929
Heating
NONE
Stories
1
Lot
1.41 ac
Current owner
From public records · entity-resolved
Safeway Realty LLC
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 800729, DALLAS, TX 75380-0729
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 9, 2022
—
Safeway Realty LLC
Aci Real Estate Spe 115 LLC
Special Warranty Deed
—
Jun 15, 2020
—
Aci Real Estate Spe 115 LLC
Jetco Properties INC
Grant Deed
related
—
Dec 9, 2016
—
Jetco Properties INC
—
Deed
related
—
Jan 12, 2015
—
Jetco Properties INC
—
Grant Deed
related
—
Mar 21, 2013
—
Jetco Properties INC
—
Deed Of Trust
related
$1,000,000,000 · Self-insurers' Security Fund
—
—
Jetco Properties INC
—
Deed Of Trust
related
—
—
—
Jetco Properties INC
—
Deed Of Trust
related
—
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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