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Property profile & analytics
OFF-MARKET
Estimated value
$620,000
Residential income homes
9224 Waukegan Rd, Morton Grove, IL 60053-2101
Individually Owned
25-yr Hold
~
Est. High Equity
Property ID
US28-0484703
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1949
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,321 SF
Lot
0.29 ac (12,500 SF)
APN
10-18-106-048
UPID
US28-0484703
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
$865k
Comparable Approach
Comparable
$680k
Blend (final)
Blend
$620k
Owner & transaction history
John T Kim · 25 yrs held
John T Kim
since 2001
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$950,000
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$935,000
6.5%
$865,000
7%
$800,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$720,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$950,000
Change: +32% · Conversion: Difficult
RETAIL STORES
$645,000
Change: -10% · Conversion: Difficult
OFFICE BUILDING
$580,000
Change: -20% · Conversion: Moderate
Blend value · Realmo final
$620k
Range $558k – $682k · ±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
$143 / 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
$15,333
Tax year 2022
Assessed value
$59,000
Assessed 2022
Previous assessed
$59,000
+0.0% YoY
Effective rate
25.99%
On assessed value
Assessed land
$16,250
Assessed improvement
$42,750
Land market value
$162,500
Improvement market value
$427,500
Total market value
$590,000
Applied tax rate
24,019.0000
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
1949
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
CENTRAL
Stories
2
Units
2
Bathrooms
4
Total area
4,321 SF
Lot
0.29 ac (12,500 SF)
APN
10-18-106-048
UPID
US28-0484703
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
$720,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$950,000
RETAIL STORES
Est. value
$645,000
OFFICE BUILDING
Est. value
$580,000
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
1949
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
2
Units
2
Bathrooms
4
Lot
0.29 ac
Current owner
From public records · entity-resolved
John T Kim
Individual
Mailing address
8929TH W HEATHWOOD CIR, NILES, IL 60714-5809
Ownership since
2001
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 22, 2001
$500,000
John T Kim
Midwest Bank & Trust Co Ttee
Grant Deed
$350,000 · Foster Bank
—
—
John T Kim
—
Deed Of Trust
related
$400,000 · Greatbank Chicago
—
—
Nickolas Esposito
—
Deed Of Trust
related
$40,000 · First Nat'l Bank Morton Grove
—
—
Midwest Bank & Trust Ttee
—
Deed Of Trust
related
$275,000 · Plaza Bank NA
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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