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Property profile & analytics
OFF-MARKET
Estimated value
$10,360,000
Retail space
601 Polk St, Chicago, IL 60607-3642
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US28-5783994
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1927
Total area
94,900 SF
Lot
1.43 ac (62,291 SF)
APN
17-16-310-001
UPID
US28-5783994
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
-
TierPoint - Chicago Data Center IT Consulting Firm Tech Support Center
-
Co Space Services Music Venue Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.56M
Blend (final)
Blend
$10.36M
Owner & transaction history
Tierpoint Properties LLC · 2 yrs held
Tierpoint Properties LLC
since 2023
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
$10.36M
Range $9.32M – $11.40M · ±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
$109 / 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
$1,041,267
Tax year 2022
Assessed value
$5,062,500
Assessed 2022
Previous assessed
$4,790,635
+5.7% YoY
Effective rate
20.57%
On assessed value
Assessed land
$466,290
Assessed improvement
$4,596,210
Land market value
$1,865,160
Improvement market value
$18,384,840
Total market value
$20,250,000
Applied tax rate
77,035.0000
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
1927
Heating
NONE
Stories
2
Total area
94,900 SF
Lot
1.43 ac (62,291 SF)
APN
17-16-310-001
UPID
US28-5783994
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
1927
Heating
NONE
Stories
2
Lot
1.43 ac
Current owner
From public records · entity-resolved
Tierpoint Properties LLC
Entity
Mailing address
12444 POWERSCOURT DR STE #450, SAINT LOUIS, MO 63131-3632
Ownership since
2023
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
Jul 10, 2023
—
Tierpoint Properties LLC
Polk Technology Partners LLC
Lease
$106,000,000 · Wilmington Trust NA
Apr 1, 2021
$202,500
Technology Partners LLC
Gi Tc Polk LLC
Special Warranty Deed
—
Dec 17, 2015
$17,845,000
Gi Tc Polk LLC
Pidata Holdings LLC
Grant Deed
—
Apr 23, 2012
—
Pi Data Holdings LLC
—
Deed Of Trust
related
$7,000,000 · J P Morgan Chase Bank
Oct 5, 2011
$10,000,000
Oi Data Holdings LLC
Ten X Cap Ptrs III LLC Series
Grant Deed
related
—
Jan 13, 2011
—
Ten X Cap Ptrs III LLC Series
—
Deed Of Trust
related
$5,400,000 · Cole Taylor Bank
May 25, 2010
—
Ten X Cap Ptrs III LLC Series
—
Deed Of Trust
related
$5,400,000 · Cole Taylor Bank
Jun 15, 2009
—
Ten X Capital Partners III LLC
—
Deed Of Trust
related
$5,400,000 · Cole Taylor Bank
Jan 24, 2006
$6,000,000
Ten X Cap Ptrs III LLC B
601 West Polk Street LLC
Grant Deed
$5,400,000 · Cole Taylor Bank
Jul 31, 2002
—
601 West Polk Street LLC
Cathartes/601 W Polk St LLC
Quit Claim Deed
related
—
—
—
Gi Tc Polk LLC
—
Deed Of Trust
related
$15,000,000 · Benefit Street Ptrs Cre Fin Ll
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.
Try Rey
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