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    Property profile & analytics

    375 Il Route 83 Grayslake, IL 60030

    • Office buildings
    • 2,160 SF
    • 0.29 lot acres
    For Sale
    View listing
    $265,000
    Value Estimation
    Last Sale
    May 20, 2025
    $240,000
    Location Intelligence
    Property ID
    US28-1493768
    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.

    Current Use by Public Records

    • Office buildings

    Property Details for 375 Il Route 83

    Year built
    1968
    Construction
    FRAME
    Lot size
    0.29 lot acres
    Property size
    2,160 SF
    Property type
    Office buildings
    APN
    06-35-200-039
    APU
    635200039

    Description

    This 2,200 square foot, single-story office building presents a compelling investment opportunity in Grayslake, Illinois. The frame-constructed building sits on an irregular lot measuring 57 x 288 x 213 x 59 feet, providing ample space. Located in the General Business District, the property boasts excellent visibility with frontage along Route 83, opening doors to a variety of commercial uses. The building is set back approximately 80 feet from the main road, allowing for approximately 10 parking spaces. Additional rear area offers potential for storage or extra parking. The property includes an overhead entrance door on the south side. Interior demolition is complete, presenting a blank canvas for a buyer to customize the space to their specific needs. With a modest amount of renovation, this property can be transformed into a highly functional and attractive commercial space. The asking price is $265,000. This is a rare opportunity to acquire a well-located commercial property with significant upside potential in a thriving business district. The property's location and zoning offer considerable flexibility for future development or adaptation to various commercial enterprises.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $295,000

    • CAP approach

      CAP return
      Estimation
      6%
      $260,000
      6.5%
      $230,000
      7%
      $245,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $255,000
      Geo Method
      $235,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $195,000
      Retail
      $175,000
      Mixed-Use
      $175,000
      Hospitality
      $175,000
      Educational
      $240,000
      Residential Income
      $205,000
      Energy
      $190,000
      Income-Based Land
      $200,000
      Food Service
      $195,000

    Location Insight

    • Map
    • Local Demand
    City
    Grayslake
    County
    Lake
    State
    Illinois
    Longitude
    -88.0302
    Latitude
    42.3354
    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
    2023
    $8,649
    $33,802
    $7,861
    $41,663
    -
    $101,416
    $23,585
    $125,001

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      OFFICE BUILDING • 3,378 SF
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    375 Il Route 83
    Grayslake, IL 60030
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    Realmo Value Estimation

    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.

    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.

    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
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