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Property profile & analytics
OFF-MARKET
Estimated value
$955,000
Retail space
512 State St Chicago, IL 60654
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US28-1669283
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1930
Total area
20,000 SF
Lot
0.09 ac (4,000 SF)
APN
17-09-248-009
UPID
US28-1669283
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
-
Horn Electrical Contractors Electrical Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$829k
Blend (final)
Blend
$955k
Owner & transaction history
Grand Property Owner LLC · 1 yrs held
Grand Property Owner LLC
since 2025
7 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
Blend value · Realmo final
$955k
Range $860k – $1.05M · ±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
$48 / 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
$104,634
Tax year 2022
Assessed value
$508,718
Assessed 2022
Previous assessed
$608,735
-16.4% YoY
Effective rate
20.57%
On assessed value
Assessed land
$200,000
Assessed improvement
$308,718
Land market value
$800,000
Improvement market value
$1,234,872
Total market value
$2,034,872
Applied tax rate
74,004.0000
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
1930
Heating
NONE
Stories
2
Total area
20,000 SF
Lot
0.09 ac (4,000 SF)
APN
17-09-248-009
UPID
US28-1669283
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
Building & site characteristics
From public records
Year built
1930
Heating
NONE
Stories
2
Lot
0.09 ac
Current owner
From public records · entity-resolved
Grand Property Owner LLC
Entity
Mailing address
324 E LIBERTY ST, BARRINGTON, IL 60010-3236
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 8, 2025
—
Grand Property Owner LLC
Arizona LLC
Special Warranty Deed
$15,800,000 · Signature Bank
Dec 3, 2024
—
Arthur Wong Revocable Trust
Arthur Wong
Quitclaim Deed
related
—
Feb 21, 2024
—
Matthew T Myren
Matthew T Myren
Intrafamily Transfer
related
—
Mar 22, 2023
—
Matthew T Myren
Maquoketa State Bank
Intrafamily Transfer
related
—
Nov 3, 2020
—
Arizona LLC
—
Deed
related
—
Jan 2, 2008
—
Halcyon Management LLC
Foster,constance S
Grant Deed
related
—
Feb 9, 2004
$133,500
Constance S Foster
Crowley,john G
Grant Deed
—
Aug 12, 2003
$50,000
Weisman,tr
Wong,arthur
Grant Deed
—
Aug 23, 1999
—
Rock Bottom Restaurants INC
—
Deed Of Trust
related
$60,000,000 · Bankboston NA Trustee
—
—
Rock Bottom Restaurants INC
—
Deed Of Trust
related
$3,460,000 · Lakeside Bank
—
—
Arizona LLC
—
Loan Modification
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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