Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    550 Fulton St, Unit P33 Chicago, IL 60661-1167
    Back to Search
    Property profile & analytics

    550 Fulton St, Unit P33 Chicago, IL 60661-1167

    View on Map
    • Parking lots & garages
    • 0.34 lot acres
    Off-Market
    Last Sale Jul 31, 2025
    $750,000
    Property ID
    US28-2430703
    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.
    Value Estimations
    $750,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dori Peace, LLC / Crisis Center / Medical Clinic
    • Dr. Thomas J. Falls, MD / Physician
    • Stuart F Adelman & Associates / Insurance Agency

    Property Details for 550 Fulton St

    Year built
    1997
    Lot size
    0.34 lot acres
    Property type
    Parking lots & garages
    APN
    17-09-303-088-1073
    APU
    17093030881073

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6418
    Latitude
    41.8871
    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
    $73
    $3,143
    $3,216
    -
    $730
    $31,430
    $32,160

    Comparable in this City

    • Value Estimation by Request
      0.76 Acres

      210 Desplaines St, Unit P-113

      RESIDENTIAL PARKING GARAGE • 0.76 Acres
      210 Desplaines St, Chicago, IL 60661-5500
      View Details
    • Value Estimation by Request
      1.90 Acres

      737 Washington Blvd, Unit P476

      RESIDENTIAL PARKING GARAGE • 1.90 Acres
      737 Washington Blvd, Chicago, IL 60661-2173
      View Details
    • Value Estimation by Request
      0.74 Acres

      200 Jefferson St, Unit P86

      RESIDENTIAL PARKING GARAGE • 0.74 Acres
      200 Jefferson St, Chicago, IL 60661-1195
      View Details
    • Value Estimation by Request
      0.70 Acres

      659 Randolph St, Unit P222

      RESIDENTIAL PARKING GARAGE • 0.70 Acres
      659 Randolph St, Chicago, IL 60661-2151
      View Details
    • Value Estimation by Request
      0.74 Acres

      200 Jefferson St, Unit P12

      RESIDENTIAL PARKING GARAGE • 0.74 Acres
      200 Jefferson St, Chicago, IL 60661-1195
      View Details
    • Value Estimation by Request
      0.76 Acres

      210 Desplaines St, Unit P-216

      RESIDENTIAL PARKING GARAGE • 0.76 Acres
      210 Desplaines St, Chicago, IL 60661-5500
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Indoor Heated Garage Parking Space

      Heated parking space available in The Edge, Chicago.
      210 S Desplaines St, Chicago, IL 60661
      View Details
    • $2,500,000

      Land with Income-Producing Parking

      8,527 SF land zoned DX-7 with development potential.
      313-315 S Jefferson St, Chicago, IL 60661
      View Details
    • Contact for pricing

      West Loop Deeded Parking Space

      Deeded garage parking space in Chicago's West Loop.
      125 S Jefferson St, Chicago, IL 60661
      View Details
    • Contact for pricing
      11,522 SF

      West Loop Retail Storefront Building

      Fully occupied retail building in Chicago's West Loop neighborhood.
      769-775 W Jackson St, Chicago, IL 60661
      View Details
    • Contact for pricing
      11,522 SF

      West Loop Retail Storefronts For Sale

      Fully occupied retail building in Chicago's West Loop neighborhood.
      769 W Jackson Blvd, Chicago, IL 60661
      View Details
    • $14,995,000

      West Loop Investment Opportunity

      Class C office building with conversion potential in Chicago's West Loop.
      565 West Randolph St, Chicago, IL 60661
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Luxury Building

      Retail space available in a luxury residential building.
      727 W Madison St, Chicago, IL 60661
      View Details
    • $25 SF/Yr
      10,270 SF

      Retail Space Near Public Transportation

      Retail space available in free-standing building, steps to transportation.
      117 S Clinton St, Chicago, IL 60661
      View Details
    • Contact for pricing
      3,700 SF

      Retail Space in Chicago

      3700 square feet retail space available for lease.
      321 S Jefferson St, Chicago, IL 60661
      View Details
    • $26 SF/Yr
      4,200 SF

      West Loop Retail/Restaurant Space

      Prime Chicago location with flexible layout and restaurant infrastructure.
      306-308 S Halsted St, Chicago, IL 60661
      View Details
    • Contact for pricing
      2,840 SF

      Retail Space Near Transportation Center

      First floor retail space near Ogilvie Transportation Center.
      560-564 W Washington Blvd, Chicago, IL 60661
      View Details
    • Contact for pricing
      3,798 SF

      Fulton Market Turn-Key Restaurant Space

      Second generation restaurant space in Chicago's Fulton Market neighborhood.
      832 W Fulton St, Chicago, IL 60661
      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.
    550 Fulton St, Unit P33
    Chicago, IL 60661-1167
    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

    Thank You for Inquiry
    550 Fulton St, Chicago, IL, 60661
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!