Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    18745 Belvidere Rd Grayslake, IL 60030

    • Land
    • 701,316 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 18745 Belvidere Rd

    Property size
    701,316 SF
    Property type
    Land

    Description

    This exceptional investment opportunity encompasses two parcels totaling 701,316 square feet of land situated on busy Illinois Route 120, just east of the intersection of State Route 45 and State Route 120 in Grayslake, Illinois. The property, known as Lawrence Farmstead, is zoned General Business by the Village of Grayslake, offering significant development potential. Utilities are readily available at or near the site. Currently featuring two existing houses, these structures could generate rental income until a development plan is finalized and implemented. The combined parcels are offered at $1,400,000, representing an attractive price per square foot of $2. The APN is 07-31-100-020, and the property is held in trust. This high-traffic location presents a unique chance to capitalize on the strong commercial potential of this prime real estate in Lake County, Illinois. The addresses are 18745 and 18785 W Belvidere Rd, Grayslake, IL 60030. This is a C1 development site with significant upside for the right buyer.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Grayslake
    County
    Lake
    State
    Illinois
    Longitude
    -87.9991
    Latitude
    42.3392

    Comparable in this City

    • Value Estimation by Request

      34440 Us-45

      Land
      34440 Us-45, Grayslake, IL 60030
      View Details
    • Value Estimation by Request
      36.15 Acres

      Il-120 & Il-83

      Land • 36.15 Acres
      0 Il-120 & Il-83, Grayslake, IL 60030
      View Details
    • Value Estimation by Request
      3.71 Acres

      34786 Illinois 83

      Land • 3.71 Acres
      34786 Illinois 83, Grayslake, IL 60030
      View Details
    • Value Estimation by Request
      32.64 Acres

      30862 Il-83

      Land • 32.64 Acres
      30862 Il-83, Grayslake, IL 60030
      View Details
    • Value Estimation by Request
      43.50 Acres

      Lk St & Soo Line Dr

      Land • 43.50 Acres
      0 Lk St & Soo Line Dr, Grayslake, IL 60030
      View Details
    • Value Estimation by Request
      7.40 Acres

      2200 Cornerstone Pkwy

      Land • 7.40 Acres
      2200 Cornerstone Pkwy, Grayslake, IL 60030
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      36.70 Acres

      Grayslake Commercial Land Development

      36.7 Acres, Prime PUD Zoning, High Traffic
      0 Rte 120 & Rte 137, Libertyville, IL 60030
      View Details
    • $4,151,939
      30.53 Acres

      Grayslake Commercial Land Opportunity

      30+ Acres, Prime Location, Multiple Uses
      0 Swc Rte 120 & Alleghany, Grayslake, IL 60030
      View Details
    • Contact for pricing
      3.00 Acres

      Prime Commercial Land, Third Lake, IL

      Three-acre commercial lot, ideal development.
      18790 Gages Lake Rd, Grayslake, IL 60030
      View Details
    • $1,792,533
      7.40 Acres

      Grayslake Commercial Land - 7.4 Acres

      Prime Grayslake location, ideal for retail development.
      2200 Cornerstone Pkwy, Grayslake, IL 60030
      View Details
    • Contact for pricing
      183 SF

      183 Acres of Land Available

      183 acres of land for sale in Mundelein, Illinois.
      Peterson Rd And Winchester Rd, Mundelein, IL 60030
      View Details
    • $79,000
      0.40 Acres

      Grayslake Land Near Highland Lake

      0.4 acre lot with lake access in Highland Lake.
      34110 S Cir Dr, Grayslake, IL 60030
      View Details

    Similar Nearby for Lease

    • $222 SF/Yr
      12,474 SF

      Grayslake Retail Space For Lease

      765 SF Retail Space, Downtown Grayslake
      136 Rear, Grayslake, IL 60030
      View Details
    • Contact for pricing
      6,011 SF

      1480 North Lake St., Grayslake, IL

      Neighborhood centers • 6,011 SF
      1480 Lake St, Grayslake, IL 60030
      View Details
    • $18 SF/Yr
      765 SF

      Grayslake Retail-Office Space Available

      765 SF retail-office space in downtown Grayslake available for lease.
      136 Center St, Grayslake, IL 60030
      View Details
    • Contact for pricing
      43,560 SF

      Commercial Property in Grayslake, Illinois

      Commercial property available for rent in Grayslake, Illinois.
      18880 Gages Lake Rd, Grayslake, IL 60030
      View Details
    • Contact for pricing
      30,056 SF

      Professional Office Space in Grayslake

      Move-in ready office space for professionals in a prime location.
      115 Commerce Dr, Grayslake, IL 60030
      View Details
    • Contact for pricing

      Grayslake Commercial Space Available

      Office suites and storefronts in a busy Grayslake location.
      100 S Atkinson Rd, Grayslake, IL 60030
      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.
    18745 Belvidere Rd
    Grayslake, IL 60030
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.