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Property profile & analytics
OFF-MARKET
Estimated value
$1,085,000
Motels
55 Ontario St, Chicago, IL 60611-2727
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US28-2525099
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1929
Total area
6,400 SF
Lot
0.38 ac (16,371 SF)
APN
17-10-116-003
UPID
US28-2525099
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
-
The James Chicago - Magnificent Mile Hotel & Motel
-
SP+ Parking Parking Lot & Garage
-
Encore IT Consulting Firm Tech Support Center
-
21c Museum Hotel Chicago Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.12M
CAP Approach
CAP
$740k
Comparable Approach
Comparable
$1.45M
Blend (final)
Blend
$1.09M
Owner & transaction history
Chicago Hotel Fee LLC · 8 yrs held
Chicago Hotel Fee LLC
since 2018
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.5M
+38.8%
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
$1,115,000
CAP Approach
CAP Return
Estimation
6%
$805,000
6.5%
$740,000
7%
$690,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$1,100,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,530,000
Change: +39% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,100,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$1.09M
Range $977k – $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
$170 / 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
$1,388,898
Tax year 2022
Assessed value
$6,752,638
Assessed 2022
Previous assessed
$5,778,119
+16.9% YoY
Effective rate
20.57%
On assessed value
Assessed land
$1,125,506
Assessed improvement
$5,627,132
Land market value
$4,502,024
Improvement market value
$22,508,528
Total market value
$27,010,552
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1929
Heating
NONE
Stories
16
Total area
6,400 SF
Lot
0.38 ac (16,371 SF)
APN
17-10-116-003
UPID
US28-2525099
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
HOTEL/MOTEL Current
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
HOTEL/MOTEL Current
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
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
16
Lot
0.38 ac
Current owner
From public records · entity-resolved
Chicago Hotel Fee LLC
Entity
Mailing address
277 PARK AVE #14, NEW YORK, NY 10172-0003
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 22, 2019
—
Chicago Hotel Fee LLC
—
Loan Modification
related
$67,518,750 · Ac IV Ca Mortgage LLC
Jun 12, 2018
$83,141,500
Chicago Hotel Fee LLC
E Ontario Street LLC
Grant Deed
$67,518,750 · Ac IV Ca Mortgage LLC
Jan 18, 2008
$136,550,000
55 E Ontario Street LLC
James Hotel Chicago LLC
Deed Of Trust
related
$125,000,000 · Wachovia Bank 2007-whale 8
Jun 28, 2007
—
James Hotel Chicago LLC
—
Deed Of Trust
related
$125,000,000 · Wachovia Bank NA
Feb 15, 2005
$2,502,000
James Hotel Chicago LLC
Trust 50915
Deed Of Trust
related
$71,000,000 · Ubs Real Estate Investment INC
Mar 25, 2004
—
Lasalle Bank NA Trustee
—
Trustees Deed
related
$14,500,000 · Charter One Bank
—
—
James Hotel Chicago LLC
—
Deed Of Trust
related
$75,900,000 · Wachovia Bank NA
—
—
55 E Ontario Street LLC
—
Deed Of Trust
related
$35,000,000 · German American Cap
—
—
55 E Ontario Street LLC
—
Deed Of Trust
related
$90,000,000 · Us Bank NA Series 2007-whale 8
—
—
Chicago Hotel Fee LLC
—
Loan Modification
related
$73,018,750 · Acore Cap Mtg LP
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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