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Property profile & analytics
OFF-MARKET
Estimated value
$1,080,000
Residential income homes
509 Wls St Chicago, IL 60654-6569
Entity Owned
24-yr Hold
Free & Clear
Property ID
US28-0988141
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1895
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,656 SF
Lot
0.07 ac (2,860 SF)
APN
17-09-245-002
UPID
US28-0988141
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
by Request
Comparable Approach
Comparable
$1.34M
Blend (final)
Blend
$1.08M
Owner & transaction history
Stone Street Partners LLC · 24 yrs held
Stone Street Partners LLC
since 2002
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.6M
+39.0%
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
APARTMENT HOUSE (5+ UNITS)
$1,145,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,590,000
Change: +39% · Conversion: Difficult
OFFICE BUILDING
$1,010,000
Change: -12% · Conversion: Moderate
RETAIL STORES
$970,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$1.08M
Range $972k – $1.19M · ±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
$162 / 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
$37,230
Tax year 2022
Assessed value
$181,006
Assessed 2022
Previous assessed
$181,006
+0.0% YoY
Effective rate
20.57%
On assessed value
Assessed land
$50,050
Assessed improvement
$130,956
Land market value
$500,500
Improvement market value
$1,309,560
Total market value
$1,810,060
Applied tax rate
74,002.0000
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1895
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Stories
3
Units
4
Bathrooms
5
Total area
6,656 SF
Lot
0.07 ac (2,860 SF)
APN
17-09-245-002
UPID
US28-0988141
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) Current
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.0M
RETAIL STORES
Est. value
$970,000
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
1895
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
3
Units
4
Bathrooms
5
Lot
0.07 ac
Current owner
From public records · entity-resolved
Stone Street Partners LLC
Entity
Free & Clear · 24 yrs held
Mailing address
1343 N WLS ST, CHICAGO, IL 60610-2440
Ownership since
2002
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
Mar 15, 2019
—
Stone Street Partners LLC
—
Loan Modification
related
$3,750,000 · Libertyville Bk
Dec 12, 2017
—
Stone Street Partners LLC
—
Loan Modification
related
$20,000,000 · Libertyville Bk
Oct 10, 2012
—
Stone Street Partners LLC
—
Deed Of Trust
related
$21,500,000 · Lake Forest Bank & Trust Co
Jan 26, 2011
—
Stone Street Partners LLC
—
Deed Of Trust
related
$23,000,000 · Lake Forest Bank & Trust Co
Sep 25, 2009
—
Stone Street Partners LLC
—
Deed Of Trust
related
$15,000,000 · Lake Forest Bank & Trust Co
May 9, 2002
$1,240,000
Stone Street Partners LLC
Wells Street Venture LLC
Quit Claim Deed
related
—
—
—
Stret Venture Wells
—
Deed Of Trust
related
$650,000 · 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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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