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Property profile & analytics
OFF-MARKET
Garden apartment buildings
6508 Devon Ave Chicago, IL 60631-2072
Entity Owned
21-yr Hold
Absentee Owner
Free & Clear
Property ID
US28-5490459
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1961
Lot
0.57 ac (24,978 SF)
APN
10-31-417-046
UPID
US28-5490459
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
R Properties · 21 yrs held
R Properties
since 2005
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$13,706
Tax year 2022
Assessed value
$66,639
Assessed 2022
Previous assessed
$70,308
-5.2% YoY
Effective rate
20.57%
On assessed value
Assessed land
$44,960
Assessed improvement
$21,679
Land market value
$449,600
Improvement market value
$216,790
Total market value
$666,390
Applied tax rate
71,001.0000
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1961
Heating
NONE
Stories
2
Lot
0.57 ac (24,978 SF)
APN
10-31-417-046
UPID
US28-5490459
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
1961
Heating
NONE
Stories
2
Lot
0.57 ac
Current owner
From public records · entity-resolved
R Properties
Entity
Free & Clear · 21 yrs held
Mailing address
2701 N KILDARE AVE, CHICAGO, IL 60639-2014
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2005
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
Nov 12, 2025
—
Delta Trading Company INC
—
Deed
related
$3,500,000 · Wintrust Bank NA
Feb 8, 2005
—
R Properties
Michael,robert
Quit Claim Deed
related
—
Jun 14, 2004
—
Robert Michael
—
Deed Of Trust
related
$1,050,000 · International Bank Of Chicago
May 6, 2003
—
Robert C Michael
—
Deed Of Trust
related
$1,500,000 · Cole Taylor Bank
May 26, 1998
—
Robert Michael
Chicago Trust Co Trustee
Grant Deed
related
—
—
—
Robert C Michael
—
Deed Of Trust
related
$700,000 · United Trust Bank
—
—
George Michael
—
Deed Of Trust
related
$110,000 · First National Bank Chicago
—
—
George Michael
—
Deed Of Trust
related
$620,000 · First National Bank Chicago
—
—
Robert C Michael
—
Deed Of Trust
related
$650,000 · Brickyard Bank
—
—
Robert C Michael
—
Deed Of Trust
related
$1,190,000 · Winfield Community 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.
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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