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Urban areas encompass essential social functions that are fundamental for the development and quality of life. This research explores why the concept of the 15-minute city, while commendable in its aspirations, might fall short in effectively mitigating urban inequalities, especially within densely populated and segregated developing cities. Using Bogotá (Colombia) as a case study, this paper advocates and develops a standardized index based on the availability of essential urban functions within a 15-minute walking distance. This index also integrates individual preferences, geographical attributes, and the quality of pedestrian infrastructure. Doing so provides a more comprehensive understanding of the factors influencing proximity, accommodating the diverse needs of various social identities. Considering individual preferences towards proximity is critical to comprehend the determinants of accessibility, encompassing the relevance of sociodemographic characteristics. Although several urban areas worldwide may meet the broad interpretation of the 15-minute city concept, our research reveals significant disparities among population segments regarding access to urban services and their prioritization. Our case study found that grocery stores and healthcare facilities hold paramount importance across all population segments. Furthermore, wealthy segments exhibit a heightened preference for retail shops and commercial services. In contrast, the low-income population has a considerably greater preference for healthcare facilities. This study aims to cast light upon structural disparities inherent in urban areas, thereby unveiling inequalities in the 15-minute city concept's capacity to diagnose and mitigate urban inequalities. The promotion of a more all-encompassing and inclusive measurement approach is posited as a contribution to the advancement of our comprehension and the effective implementation of the 15-minute city concept across heterogeneous urban landscapes. • This paper advocates for the development of a standardized index based on urban functions within a 15-minute walking distance. • The 15-minute city concept must include, besides proximity to opportunities, the quality of pedestrian infrastructure. • The index integrates individual preferences to understand the determinants of proximity, including sociodemographic attributes. [ABSTRACT FROM AUTHOR]