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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Residential income homes
664 Dearborn St Chicago, IL 60654-3848
Entity Owned
22-yr Hold
Property ID
US28-2316398
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1906
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,390 SF
Lot
0.05 ac (2,200 SF)
APN
17-09-219-018
UPID
US28-2316398
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
$455k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$594k
Blend (final)
Blend
$565k
Owner & transaction history
Gramercy Row LLC · 22 yrs held
Gramercy Row LLC
since 2004
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$810,000
+39.0%
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
$455,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$585,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$810,000
Change: +39% · Conversion: Difficult
OFFICE BUILDING
$515,000
Change: -12% · Conversion: Moderate
RETAIL STORES
$495,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$565k
Range $509k – $622k · ±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
$167 / 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
$16,503
Tax year 2022
Assessed value
$80,234
Assessed 2022
Previous assessed
$80,234
+0.0% YoY
Effective rate
20.57%
On assessed value
Assessed land
$38,500
Assessed improvement
$41,734
Land market value
$385,000
Improvement market value
$417,340
Total market value
$802,340
Applied tax rate
74,002.0000
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
1906
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Stories
3
Units
3
Bathrooms
6
Total area
3,390 SF
Lot
0.05 ac (2,200 SF)
APN
17-09-219-018
UPID
US28-2316398
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
$585,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$810,000
OFFICE BUILDING
Est. value
$515,000
RETAIL STORES
Est. value
$495,000
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
RETAIL STORES
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
1906
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
3
Units
3
Bathrooms
6
Lot
0.05 ac
Current owner
From public records · entity-resolved
Gramercy Row LLC
Entity
Mailing address
1 N LA SALLE ST STE #400, CHICAGO, IL 60602-3995
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 7, 2017
—
Gramercy Row LLC
—
Grant Deed
related
$7,825,000 · Jp Morgan Chase Bk
Jul 6, 2004
—
Gramercy Row LLC
—
Deed Of Trust
related
$3,700,000 · Northmarq Capital INC
Apr 29, 2004
—
Gramercy Row LLC
Handler Wells Jv
Grant Deed
related
—
Jun 9, 2003
—
Handler Wells Joint Venture Ll
—
Deed Of Trust
related
$2,500,000 · Covest Banc NA
Jul 10, 2000
—
Wells Joint Venture Handler
Lasalle Bank NA Trustee
Grant Deed
related
—
—
—
Gramercy Row LLC
—
Deed Of Trust
related
$29,475,000 · Northern Trust Co
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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