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Property profile & analytics
OFF-MARKET
Estimated value
$24,000,000
Motels
644 Diversey Pkwy Chicago, IL 60614-2068
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US28-2658927
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1928
Total area
19,600 SF
Lot
0.54 ac (23,428 SF)
APN
14-28-119-055
UPID
US28-2658927
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
-
Hotel Versey Days Inn by Wyndham Chicago Hotel & Motel
-
Chicago Metro Dumpster Rental Waste Management Facility Hazardous Waste Disposal
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$24.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$24.00M
Owner & transaction history
Reit 644 LLC · 2 yrs held
Reit 644 LLC
since 2024
Last sale
$24.0M
2 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
$24,000,000
ML approach
$24,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$24.00M
Range $21.60M – $26.40M · ±10% · vs last sale $24.00M (May 9 2024)
Last sale anchor
$24.00M
May 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
$1,224 / 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
$3,321
Tax year 2022
Assessed value
$15,257
Assessed 2022
Previous assessed
$15,257
+0.0% YoY
Effective rate
21.77%
On assessed value
Assessed land
$510
Assessed improvement
$14,747
Land market value
$2,040
Improvement market value
$58,988
Total market value
$61,028
Applied tax rate
73,116.0000
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
1928
Heating
NONE
Stories
4
Total area
19,600 SF
Lot
0.54 ac (23,428 SF)
APN
14-28-119-055
UPID
US28-2658927
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
1928
Heating
NONE
Stories
4
Lot
0.54 ac
Current owner
From public records · entity-resolved
Reit 644 LLC
Entity
Mailing address
550 E DEVON AVE STE #110, ITASCA, IL 60143-2637
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
May 9, 2024
$24,000,000
Reit 644 LLC
Lincoln Park Hotel Propco LLC
Limited Warranty Deed
$2,000,000 · Psof Wa Holdings LLC
Jun 6, 2019
—
Lincoln Park Hotel Propco LLC
—
Grant Deed
related
$20,450,000 · Western Alliance Bk
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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