Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    946 Wolfram St Chicago, IL 60657
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    946 Wolfram St Chicago, IL 60657

    View on Map
    • Office buildings
    • 55,500 SF
    • 0.41 lot acres
    Off-Market
    Property ID
    US28-0328232
    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.
    Value Estimations
    $8,665,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 946 Wolfram St

    Year built
    1916
    Lot size
    0.41 lot acres
    Property size
    55,500 SF
    Property type
    Office buildings
    APN
    14-29-225-026
    APU
    1429225026

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,780,000
      Market price range: $2.86M - $15.4M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $7,475,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $13,270,000
      Change: +78% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $6,650,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6535
    Latitude
    41.9338
    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
    $376,319
    $221,650
    $1,545,178
    $1,766,828
    -
    $886,600
    $6,180,712
    $7,067,312

    Comparable in this City

    • Value Estimation
      $1,115,000
      6,100 SF

      1300 Belmont Ave

      OFFICE BUILDING (MULTI-STORY) • 6,100 SF
      1300 Belmont Ave, Chicago, IL 60657-3200
      View Details
    • Value Estimation
      $715,000
      3,700 SF

      855 Belmont Ave

      OFFICE BUILDING (MULTI-STORY) • 3,700 SF
      855 Belmont Ave, Chicago, IL 60657-4401
      View Details
    • Value Estimation
      $5,295,000
      29,700 SF

      3030 Broadway St

      OFFICE BUILDING (MULTI-STORY) • 29,700 SF
      3030 Broadway St, Chicago, IL 60657-7472
      View Details
    • Value Estimation
      $700,000
      3,700 SF

      855 Belmont Ave

      OFFICE BUILDING (MULTI-STORY) • 3,700 SF
      855 Belmont Ave, Chicago, IL 60657-4401
      View Details
    • Value Estimation by Request
      0.42 Acres

      3030 Broadway St

      OFFICE BUILDING (MULTI-STORY) • 0.42 Acres
      3030 Broadway St, Chicago, IL 60657-7472
      View Details
    • Value Estimation
      $3,225,000
      143,600 SF

      3100 Clark St

      OFFICE BUILDING (MULTI-STORY) • 143,600 SF
      3100 Clark St, Chicago, IL 60657
      View Details

    Similar Nearby for Sale

    • $3,200,000
      13,330 SF

      Office Building on Spacious Site

      13,330 sq ft office building on 1.3-acre site.
      5834 W Belmont Ave, Chicago, IL 60657
      View Details
    • $1,550,000
      8,700 SF

      Lakeview Commercial Building on Lincoln

      Two-story commercial building with open space in Chicago's Lakeview.
      3121 N Lincoln Ave, Chicago, IL 60657
      View Details
    • $360,000
      1,200 SF

      Chicago Commercial Space For Sale

      Prime commercial space in a sought-after Chicago location.
      3125 N Lincoln Ave, Chicago, IL 60657
      View Details
    • Contact for pricing
      6,992 SF

      Lake View Redevelopment Opportunity

      Mixed-use property with redevelopment potential in Chicago's Lake View.
      3219 N Clark St, Chicago, IL 60657
      View Details
    • $235,000

      Lakeview Commercial Condo For Sale

      Ground floor commercial condo in Lakeview, ideal for office/retail.
      1443 W Belmont Ave, Chicago, IL 60657
      View Details
    • $249,000

      Commercial Condo on Belmont Avenue

      900 SF commercial condo with garage parking in Lakeview.
      1419 W Belmont Ave, Chicago, IL 60657
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      15,255 SF

      Commercial Office Space Available

      Office space for rent in Chicago, 15255 square feet.
      3033 North Clark St, Chicago, IL 60657
      View Details
    • $37 SF/Yr

      Prime Lakeview Retail/Office Space

      2,400 SF retail/office space in high-traffic Lakeview location.
      3316 N Halsted St, Chicago, IL 60657
      View Details
    • Contact for pricing
      2,575 SF

      Lakeview Retail/Medical Space Available

      Prime location near public transit and Wrigley Field.
      851 W Belmont Ave, Chicago, IL 60657
      View Details
    • Contact for pricing

      Lake View Retail Leasing Opportunity

      Retail space in Chicago's vibrant Lake View neighborhood.
      3219 North Clark St, Chicago, IL 60657
      View Details
    • $30 SF/Yr
      1,650 SF

      Lakeview Commercial Condo For Sale

      Turn-key 1,650 SF commercial condo with lake views.
      2048-2050 W Belmont Ave, Chicago, IL 60657
      View Details
    • $27 SF/Yr
      1,290 SF

      Turnkey Retail/Office Space Available

      1,290 SF retail/office space in a high-visibility location.
      2040 W Belmont Ave, Chicago, IL 60657
      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.
    946 Wolfram St
    Chicago, IL 60657
    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.
    Sign Up Successful!
    You now have access to more from Realmo!