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Property profile & analytics
FOR SALE
Motels
123 Skokie Hwy Lake Bluff, IL 60044
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US28-0641951
For Sale
1 / 2
Contact for pricing
123 Skokie Hwy, Lake Bluff, IL 60044
View Listing →
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1930
Construction
FRAME
Total area
9,016 SF
Lot
0.34 ac (14,810 SF)
APN
12-18-400-028
UPID
US28-0641951
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
$1.51M
CAP Approach
CAP
$935k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.30M
Owner & transaction history
By The Way LLC · 3 yrs held
By The Way LLC
since 2023
Last sale
$1.3M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.2M
+105.2%
Restaurant
$1.0M
+74.3%
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 Lake Bluff submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Bluff 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
$1,500,000
ML approach
$1,505,000
CAP Approach
CAP Return
Estimation
6%
$1,010,000
6.5%
$935,000
7%
$865,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,220,000
Change: +105% · Conversion: Difficult
RESTAURANT
$1,035,000
Change: +74% · Conversion: Difficult
Blend value · Realmo final
$1.30M
Range $1.17M – $1.43M · ±10% · vs last sale $1.28M (Jun 30 2023)
Last sale anchor
$1.28M
Jun 30 2023
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
$144 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$7,117
Tax year 2023
Assessed value
$104,557
Assessed 2023
Previous assessed
$103,604
+0.9% YoY
Effective rate
6.81%
On assessed value
Assessed land
$91,185
Assessed improvement
$13,372
Land market value
$273,582
Improvement market value
$40,120
Total market value
$313,702
Applied tax rate
10,007.0000
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
Motels
Use group
MOTEL
Status
For Sale
Year built
1930
Construction
FRAME
Heating
NONE
Total area
9,016 SF
Lot
0.34 ac (14,810 SF)
APN
12-18-400-028
UPID
US28-0641951
Jurisdiction
LAKE
Metro division
LAKE COUNTY-KENOSHA COUNTY, IL-WI 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
COMMERCIAL (GENERAL)
Est. value
$1.2M
RESTAURANT
Est. value
$1.0M
COMMERCIAL (GENERAL)
RESTAURANT
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
1930
Construction
FRAME
Heating
NONE
Lot
0.34 ac
Current owner
From public records · entity-resolved
By The Way LLC
Entity
Mailing address
123 N SKOKIE HWY, LAKE BLUFF, IL 60044-1741
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2023
$1,277,500
By The Way LLC
Chicago Title Land Trust Company
Deed
$1,138,162 · Bank & Trust Co
Aug 9, 1999
$665,000
American Nat'l Bk&tr Chgo Ttee
Koziol,joseph & Mariana
Grant Deed
related
$465,500 · Success National Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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