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    Property profile & analytics

    850 Tower Dr Lake Villa, IL 60046

    • Retail space
    • 18,201 SF
    • 1.76 lot acres
    For Sale
    View listing
    $4,200,000
    Value Estimation
    Last Sale
    Oct 03, 2024
    Location Intelligence
    Property ID
    US28-0032221
    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

    • Retail space

    Property Details for 850 Tower Dr

    Year built
    2006
    Construction
    BRICK
    Lot size
    1.76 lot acres
    Property size
    18,201 SF
    Property type
    Retail space
    APN
    02-28-201-180
    APU
    228201180

    Description

    This exceptional investment opportunity presents a fully occupied, 100% leased shopping center located at 850 Tower Drive, Lake Villa, Illinois, 60046. The property, built in 2006, boasts a total of 1 square foot of retail space and sits on a 1.75-acre lot zoned for commercial use. Currently operating under a triple-net (NNN) lease agreement with multiple tenants, the center generates a substantial net operating income (NOI) of $208,471, resulting in an attractive 7.06% capitalization rate. The asking price for this prime retail asset is $4,200,000. Strategically positioned on the southwest corner of Grass Lake Road and Deep Lake Road, this shopping center benefits from high visibility and convenient access for customers. The property's strong tenancy and consistent cash flow make it an ideal addition to any investment portfolio seeking stable returns in a thriving commercial market. This is a rare opportunity to acquire a well-established, high-performing retail property in a desirable location. The property's 2006 construction date suggests a relatively newer building with potential for long-term value appreciation. The 100% occupancy rate minimizes vacancy risk and ensures a steady stream of income. The property's commercial zoning allows for flexibility and potential future development opportunities.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $395,000

    • CAP approach

      CAP return
      Estimation
      6%
      $420,000
      6.5%
      $445,000
      7%
      $430,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $475,000
      Geo Method
      $395,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $400,000
      Retail
      $430,000
      Mixed-Use
      $435,000
      Hospitality
      $465,000
      Educational
      $440,000
      Residential Income
      $390,000
      Energy
      $475,000
      Income-Based Land
      $525,000
      Food Service
      $400,000

    Location Insight

    • Map
    • Local Demand
    City
    Lake Villa
    County
    Lake
    State
    Illinois
    Longitude
    -88.0644
    Latitude
    42.4409
    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
    $0.00
    $116,512
    $437,314
    $553,826
    -
    $349,571
    $1,312,073
    $1,661,644

    Comparable in this City

    • Value Estimation by Request
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    • Value Estimation by Request
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      37669 Il Rte 59

      RETAIL STORES (PERSONAL SERVICES) • 6,936 SF
      37669 Il Rte 59, Lake Villa, IL 60046-7330
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    • Value Estimation
      $635,000
      17,690 SF

      616 Bridgeport Ter

      RETAIL STORES (PERSONAL SERVICES) • 17,690 SF
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      129 Cedar Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,264 SF
      129 Cedar Ave, Lake Villa, IL 60046
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    • Value Estimation by Request
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      625 Bridgeport Ter

      Individual retail properties • 9,128 SF
      625 Bridgeport Ter, Lindenhurst, IL 60046
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    • Value Estimation by Request
      2,160 SF

      37635 Il Rte 59

      RETAIL STORES (PERSONAL SERVICES) • 2,160 SF
      37635 Il Rte 59, Lake Villa, IL 60046-7333
      View Details

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    • $4,200,000
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    850 Tower Dr
    Lake Villa, IL 60046
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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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