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Property profile & analytics
OFF-MARKET
Estimated value
$7,720,000
Motels
623 Harrison St Chicago, IL 60607
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US28-0152668
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1988
Total area
64,300 SF
Lot
1.65 ac (71,874 SF)
APN
17-17-300-051
UPID
US28-0152668
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$7.45M
Comparable Approach
Comparable
$7.76M
Blend (final)
Blend
$7.72M
Owner & transaction history
Wyatr LLC · 6 yrs held
Wyatr LLC
since 2019
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%
$8,065,000
6.5%
$7,445,000
7%
$6,910,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$11,075,000
Current use
Blend value · Realmo final
$7.72M
Range $6.95M – $8.49M · ±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
$120 / 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
$648,111
Tax year 2022
Assessed value
$3,140,314
Assessed 2022
Previous assessed
$2,500,000
+25.6% YoY
Effective rate
20.64%
On assessed value
Assessed land
$328,239
Assessed improvement
$2,812,075
Land market value
$1,312,956
Improvement market value
$11,248,300
Total market value
$12,561,256
Applied tax rate
77,100.0000
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
1988
Heating
NONE
Stories
4
Total area
64,300 SF
Lot
1.65 ac (71,874 SF)
APN
17-17-300-051
UPID
US28-0152668
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
$11.1M
HOTEL/MOTEL Current
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
1988
Heating
NONE
Stories
4
Lot
1.65 ac
Current owner
From public records · entity-resolved
Wyatr LLC
Entity
Mailing address
133 N JEFFERSON STFLO, CHICAGO, IL 60661-2336
Ownership since
2019
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
Sep 30, 2025
—
Wyatr LLC
—
Deed
related
$11,640,000 · Access Point Financial LLC
Oct 4, 2022
—
Wyatr LLC
—
Deed
related
$10,860,000 · Access Point Financial LLC
Dec 17, 2019
$7,163,500
Wyatr LLC
Ia Urban Hotels Chicago LLC
Special Warranty Deed
$7,500,000 · Wintrust Bank NA
Dec 17, 2019
—
Wyatr LLC
Ia Urban Hotels Chicago Trs LLC
Quit Claim Deed
related
—
Jul 25, 2005
$18,200,000
Rlj Chicago Uic Hotel LLC
Chd Chicago I LLC
Special Warranty Deed
$13,000,000 · Gmac Commercial Mortgage Bank
Jun 20, 2003
—
Chd Chicago I LLC
Strategic Hotel Capital LLC
Grant Deed
$10,000,000 · Merrill Lynch Credit Corp
Sep 16, 1999
—
Gh Inn LLC
—
Deed Of Trust
related
$200,000,000 · Bank Of America Trustee
—
—
Ia Urban Hotels Chicago LLC
—
Deed Of Trust
related
$7,896,366 · Capmark Bank
—
—
Ia Urban Hotels Chicago LLC
—
Deed Of Trust
related
$13,000,000 · Capmark Bank
—
—
Ia Urban Hotels Chicago LLC
—
Deed Of Trust
related
$39,750,000 · Fifth Third Bank
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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