Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    55 Ohio St Chicago, IL 60611-2701

    • Commercial real estate
    • 1.50 lot acres
    OFF-MARKET
    Value Estimations
    $260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-4438263
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Room & Board / Bedroom Furniture Store / Children'S Furniture Store

    Property Details for 55 Ohio St

    Year built
    1999
    Lot size
    1.50 lot acres
    Property type
    Commercial real estate
    APN
    17-10-120-034
    APU
    1710120034

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $260,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6257
    Latitude
    41.8921
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $0.00
    $7
    $1.00
    $8
    -
    $28
    $4
    $32

    Comparable in this City

    • Value Estimation
      $260,000
      0.01 Acres

      111 Chestnut St

      COMMERCIAL (GENERAL) • 0.01 Acres
      111 Chestnut St, Chicago, IL 60611-2051
      View Details
    • Value Estimation
      $260,000
      0.01 Acres

      505 Lk Shr Dr Ste, Unit 200

      COMMERCIAL (GENERAL) • 0.01 Acres
      505 Lk Shr Dr Ste, Chicago, IL 60611-3413
      View Details
    • Value Estimation
      $305,000
      0.04 Acres

      440 Rush St

      COMMERCIAL (GENERAL) • 0.04 Acres
      440 Rush St, Chicago, IL 60611
      View Details
    • Value Estimation by Request

      834 Rush St

      COMMERCIAL (GENERAL)
      834 Rush St, Chicago, IL 60611-2031
      View Details
    • Value Estimation by Request

      445 Ohio St

      COMMERCIAL (GENERAL)
      445 Ohio St, Chicago, IL 60611-3302
      View Details
    • Value Estimation by Request

      445 Ohio St

      COMMERCIAL (GENERAL)
      445 Ohio St, Chicago, IL 60611-3302
      View Details

    Similar Nearby for Sale

    • $50,000

      Chicago Land Priced to Sell

      Commercial land available in Chicago, priced to sell quickly.
      401 N Wabash Ave, Chicago, IL 60611
      View Details
    • Contact for pricing

      Chicago Land For Sale

      Land available in Chicago, Illinois.
      401 N Wabash Ave, Chicago, IL 60611
      View Details
    • $50,000

      Chicago Parking Space For Sale

      9th floor parking space available in Chicago's 60611 area.
      401 N Wabash Ave, Chicago, IL 60611
      View Details
    • $65,000

      Garage Parking Spot For Sale

      Parking garage spot available in prime location.
      55 E Erie St #P-405, Chicago, IL 60611
      View Details
    • $429,000

      Streeterville Condo with City Views

      Spacious 2 bed/2 bath condo with city and lake views.
      400 E Ohio St, Chicago, IL 60611
      View Details
    • Contact for pricing

      Residential Parking Spot For Sale

      Parking spot on first floor, close to elevator.
      10 E Ontario St, Chicago, IL 60611
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,515 SF

      Magnificent Mile Retail Space

      Prime Gold Coast Restaurant Opportunity
      110 Pearson St, Chicago, IL 60611
      View Details
    • Contact for pricing
      4,921 SF

      Prime Chicago Retail Flagship

      Magnificent Mile flagship retail space. High foot traffic location.
      142 Ontario St, Chicago, IL 60611
      View Details
    • Contact for pricing
      68,170 SF

      River North Retail Spaces Available

      Prime River North location, 3 spaces, restaurant-ready.
      50 Chicago Ave, Chicago, IL 60611
      View Details
    • Contact for pricing
      1,298 SF

      Trophy Class Building for Lease

      Trophy class building with mixed-use development and ample amenities.
      455 N Cityfront Plaza Dr, Chicago, IL 60611
      View Details
    • Contact for pricing
      3,645 SF

      Magnificent Mile Retail Opportunity

      Prime retail space available on Chicago's Magnificent Mile.
      701 N Michigan Ave, Chicago, IL 60611
      View Details
    • Contact for pricing
      1,816 SF

      River North Timber Loft Space

      Office/retail timber loft in River North with high ceilings.
      420 N Wabash Ave, Chicago, IL 60611
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    55 Ohio St
    Chicago, IL 60611-2701
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.