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Property profile & analytics
OFF-MARKET
Estimated value
$665,000
Residential income homes
601 Highland Ave, Oak Park, IL 60304-2472
Individually Owned
2-yr Hold
Property ID
US28-1956770
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1893
Construction
FRAME
Total area
2,440 SF
Lot
0.09 ac (3,927 SF)
APN
16-17-109-022
UPID
US28-1956770
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
-
JUDY`S DAYCARE Daycare Center Foster Care Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$665k
CAP Approach
CAP
$485k
Comparable Approach
Comparable
$468k
Blend (final)
Blend
$665k
Owner & transaction history
Franco Zaro · 2 yrs held
Franco Zaro
since 2024
Last sale
$665,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+153.1%
Neighborhood: shopping center
$535,000
+29.2%
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 Oak Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Oak Park 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
$665,000
ML approach
$665,000
CAP Approach
CAP Return
Estimation
6%
$530,000
6.5%
$485,000
7%
$450,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$415,000
Current use
COMMERCIAL (GENERAL)
$1,050,000
Change: +153% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$535,000
Change: +29% · Conversion: Difficult
Blend value · Realmo final
$665k
Range $599k – $732k · ±10% · vs last sale $665k (Feb 9 2024)
Last sale anchor
$665k
Feb 9 2024
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
$273 / 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
$14,060
Tax year 2022
Assessed value
$36,615
Assessed 2022
Previous assessed
$36,615
+0.0% YoY
Effective rate
38.40%
On assessed value
Assessed land
$3,927
Assessed improvement
$32,688
Land market value
$39,270
Improvement market value
$326,880
Total market value
$366,150
Applied tax rate
27,001.0000
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
1893
Construction
FRAME
Heating
NONE
Cooling
YES
Stories
2
Units
2
Bathrooms
5
Total area
2,440 SF
Lot
0.09 ac (3,927 SF)
APN
16-17-109-022
UPID
US28-1956770
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
$415,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$535,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1893
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
2
Units
2
Bathrooms
5
Lot
0.09 ac
Current owner
From public records · entity-resolved
Franco Zaro
Individual
Mailing address
601 HIGHLAND AVE, OAK PARK, IL 60304-2472
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 9, 2024
$665,000
Franco Zaro
Jeffrey L Norris
Warranty Deed
$642,805 · American Neighborhood Mtg Acceptanc
—
—
Jeffrey L Norris
—
Deed Of Trust
related
$200,000 · Bank One NA
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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