Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    900 Michigan Ave Chicago, IL 60611-1542

    • Commercial real estate
    • 2.05 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2738177
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • ba&sh at Bloomingdale's / (Bike/Boat/Book/etc) Store / Clothing & Fashion Store
    • AllSaints / Clothing & Fashion Store / (Bike/Boat/Book/etc) Store
    • lululemon / Clothing & Fashion Store
    • German Kitchen Center / Kitchen & Bath Showroom / Furniture & Home Goods
    • IPPOLITA / (Bike/Boat/Book/etc) Store

    Property Details for 900 Michigan Ave

    Year built
    1986
    Lot size
    2.05 lot acres
    Property type
    Commercial real estate
    APN
    17-03-211-036
    APU
    1703211036

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6251
    Latitude
    41.8996
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $0.00
    $1.00
    $1.00
    $2.00
    -
    $4
    $4
    $8

    Comparable in this City

    • Value Estimation by Request
      2,555 SF

      200 Illinois St

      Restaurants • 2,555 SF
      200 Illinois St, Chicago, IL 60611
      View Details
    • Value Estimation by Request
      9,389 SF

      110 Pearson St

      Retail properties • 9,389 SF
      110 Pearson St, Chicago, IL 60611
      View Details
    • Value Estimation by Request

      445 Ohio St Ste, Unit 203

      COMMERCIAL (GENERAL)
      445 Ohio St Ste, Chicago, IL 60611-4676
      View Details
    • Value Estimation by Request

      Chicago, IL 60611

      COMMERCIAL (GENERAL)
      Chicago, IL 60611
      View Details
    • Value Estimation by Request

      Chicago, IL 60611

      COMMERCIAL (GENERAL)
      Chicago, IL 60611
      View Details
    • Value Estimation by Request

      20 Chicago Ave

      COMMERCIAL (GENERAL)
      20 Chicago Ave, Chicago, IL 60611-2009
      View Details

    Similar Nearby for Sale

    • $65,000

      Garage Parking Spot For Sale

      Parking garage spot available in prime location.
      55 E Erie St #P-405, Chicago, IL 60611
      View Details
    • $429,000

      Streeterville Condo with City Views

      Spacious 2 bed/2 bath condo with city and lake views.
      400 E Ohio St, Chicago, IL 60611
      View Details
    • Contact for pricing

      Residential Parking Spot For Sale

      Parking spot on first floor, close to elevator.
      10 E Ontario St, Chicago, IL 60611
      View Details
    • $375,000
      965 SF

      Mag Mile Condo with Skyline Views

      Updated 1 bed, 1.5 bath condo on Magnificent Mile.
      100 E Huron St, Chicago, IL 60611
      View Details
    • $919,000
      1,444 SF

      Renovated Historical Building Residence

      Renovated 2-bedroom residence with modern amenities and lake views.
      850 N Lake Shore Dr, Chicago, IL 60611
      View Details
    • $4,500,000

      Lake Shore Drive Oversized Lot

      Oversized lot on Chicago's iconic Lake Shore Drive.
      3016 N Lake Shore Dr, Chicago, IL 60611
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      79,900 SF

      River North Office Loft Sublease

      5,000 sq ft Chicago Office Space
      11 Hubbard St, Chicago, IL 60611
      View Details
    • $22 SF/Yr
      32,288 SF

      John Hancock Center Office Suites

      Prestigious Chicago Office Space: Flexible Options
      875 Michigan Ave, Chicago, IL 60611
      View Details
    • Contact for pricing
      403,200 SF

      Park Hyatt Retail Space, Chicago

      Prime Retail Space, Gold Coast Location
      800 Michigan Ave, Chicago, IL 60611
      View Details
    • $31 SF/Yr
      135,620 SF

      Contemporary Office Space on Ontario

      Office space with views and upcoming amenity center.
      142 E Ontario St, Chicago, IL 60611
      View Details
    • $25 SF/Yr
      15,353 SF

      Class A Office Tower For Rent

      Class A office space with premium amenities and city views.
      401 N Michigan Ave, Chicago, IL 60611
      View Details
    • Contact for pricing
      5,118 SF

      Modern Office Space Available

      Office space with modern courtyard, high ceilings, and fiber internet.
      212 W Kinzie St, Chicago, IL 60611
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    900 Michigan Ave
    Chicago, IL 60611-1542
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.