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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Residential income homes
8539 Callie Ave, Morton Grove, IL 60053-2802
Individually Owned
3-yr Hold
Property ID
US28-5793429
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,093 SF
Lot
0.11 ac (4,650 SF)
APN
10-20-113-013
UPID
US28-5793429
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
$755k
CAP Approach
CAP
$815k
Comparable Approach
Comparable
$621k
Blend (final)
Blend
$690k
Owner & transaction history
Henrietta Babaian · 3 yrs held
Henrietta Babaian
since 2022
Last sale
$670,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$900,000
+32.0%
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 Morton Grove submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morton Grove 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
$770,000
ML approach
$755,000
CAP Approach
CAP Return
Estimation
6%
$885,000
6.5%
$815,000
7%
$760,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$680,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$900,000
Change: +32% · Conversion: Difficult
RETAIL STORES
$610,000
Change: -10% · Conversion: Difficult
OFFICE BUILDING
$545,000
Change: -20% · Conversion: Moderate
Blend value · Realmo final
$690k
Range $621k – $759k · ±10% · vs last sale $670k (Oct 13 2022)
Last sale anchor
$670k
Oct 13 2022
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
$169 / 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
$11,135
Tax year 2022
Assessed value
$53,825
Assessed 2022
Previous assessed
$53,825
+0.0% YoY
Effective rate
20.69%
On assessed value
Assessed land
$6,510
Assessed improvement
$47,315
Land market value
$65,100
Improvement market value
$473,150
Total market value
$538,250
Applied tax rate
24,017.0000
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
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
CENTRAL
Stories
2
Units
2
Bathrooms
4
Total area
4,093 SF
Lot
0.11 ac (4,650 SF)
APN
10-20-113-013
UPID
US28-5793429
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
$680,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$900,000
RETAIL STORES
Est. value
$610,000
OFFICE BUILDING
Est. value
$545,000
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
OFFICE BUILDING
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
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
2
Units
2
Bathrooms
4
Lot
0.11 ac
Current owner
From public records · entity-resolved
Henrietta Babaian
Individual
Mailing address
8539 CALLIE AVE, MORTON GROVE, IL 60053-2802
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
18 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 13, 2022
—
Henrietta Babaian
8539 Callie LLC
Quit Claim Deed
related
—
Jul 18, 2022
—
8539 Callie LLC
Henrietta Babaian
Quit Claim Deed
related
—
Sep 21, 2018
$670,000
Henrietta,barbarian Living Trust
Garg,vishal & Roma
Warranty Deed
—
Aug 11, 2015
$542,500
Roma Garg
Chicago Title Land Trust Company
Deed
$488,250 · Us Bank NA
Sep 19, 2014
—
Chicago Title Land Trust Company
Dendorbres LLC
Quit Claim Deed
related
$3,000,000 · Pan American Bank
Jan 9, 2014
—
Dendorbres LLC Il
—
Trustees Deed
related
$385,000 · Alquest LLC
Dec 18, 2013
$321,500
8820 Oswego LLC
Judicial Sales Corp
Grant Deed
—
Dec 18, 2013
—
Dendorbres LLC
8820 Oswego LLC
Quit Claim Deed
related
—
Sep 5, 2000
$185,000
Petru Serb
Sheikh,julieta E
Grant Deed
$166,315 · Washington Mutual Fsb
—
—
Petru Serb
—
Deed Of Trust
related
$25,000 · Greenpoint Mortgage Funding
—
—
Petru Serb
—
Deed Of Trust
related
$472,500 · Argent Mortgage Co LLC
—
—
Roma Garg
—
Deed Of Trust
related
$477,600 · Jp Morgan Chase Bk
—
—
Petru Serb
—
Deed Of Trust
related
$50,000 · Greenpoint Mortgage Funding
—
—
Petru Serb
—
Deed Of Trust
related
$235,000 · Washington Mutual Fsb
—
—
Babaian,henrietta Living Trust
—
Deed Of Trust
related
$300,000 · Us Bk
—
—
Petru Serb
—
Deed Of Trust
related
$398,000 · Argent Mortgage Co LLC
—
—
Petru Serb
—
Deed Of Trust
related
$403,000 · America's Wholesale Lender
—
—
Petru Serb
—
Deed Of Trust
related
$452,000 · Greenpoint Mortgage Funding
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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