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

    4190 Old Grand Ave Gurnee, IL 60031-2706

    • Investment properties
    • 6,348 SF
    • 0.70 lot acres
    OFF-MARKET
    Last Sale
    Apr 01, 2020
    $670,000
    Value Estimations
    $810,000
    Show details
    Cap Rate Potential
    7.5%
    Investment properties
    Location Intelligence
    Property ID
    US28-0645761
    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

    • Gurnee Salata Funeral Home / Funeral Home / Cremation Service
    • Morani Gene J / Funeral Home

    Property Details for 4190 Old Grand Ave

    Year built
    1901
    Construction
    FRAME
    Lot size
    0.70 lot acres
    Property size
    6,348 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    07-14-400-037
    APU
    714400037

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $880,000
      ML approach
      $880,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $608,000
      Market price range: $609k - $2.01M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,150,000
      Current use
      AUTO REPAIR, GARAGE
      $1,110,000
      Change: -4% Conversion: Difficult
      RESTAURANT
      $1,085,000
      Change: -6% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,075,000
      Change: -7% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Gurnee
    County
    Lake
    State
    Illinois
    Longitude
    -87.9068
    Latitude
    42.3712
    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
    $10,944
    $14,179
    $97,990
    $112,169
    -
    $42,541
    $293,999
    $336,540

    Comparable in this City

    • Value Estimation
      $415,000
      2,761 SF

      135 Il Rte 21

      OFFICE/RESIDENTIAL (MIXED USE) • 2,761 SF
      135 Il Rte 21, Gurnee, IL 60031-3808
      View Details
    • Value Estimation
      $265,000
      2,340 SF

      36728 Us Hwy 41

      OFFICE/RESIDENTIAL (MIXED USE) • 2,340 SF
      36728 Us Hwy 41, Gurnee, IL 60031-1020
      View Details
    • Value Estimation
      $715,000
      4,446 SF

      6455 Cunningham Ct

      OFFICE/RESIDENTIAL (MIXED USE) • 4,446 SF
      6455 Cunningham Ct, Gurnee, IL 60031-4299
      View Details
    • Value Estimation
      $415,000
      6,208 SF

      6280 Grand Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 6,208 SF
      6280 Grand Ave, Gurnee, IL 60031-4522
      View Details
    • Value Estimation
      $255,000
      925 SF

      5385 Grand Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 925 SF
      5385 Grand Ave, Gurnee, IL 60031-1854
      View Details
    • Value Estimation
      $270,000
      2,683 SF

      4411 Old Grand Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,683 SF
      4411 Old Grand Ave, Gurnee, IL 60031-2619
      View Details

    Similar Nearby for Sale

    • $3,150,000
      15,250 SF

      Hunt Club Professional Office Building

      Hunt Club Professional Office Building
      6475 Washington St, Gurnee, IL 60031
      View Details
    • $2,250,000

      Prime Gurnee Mixed-Use Investment

      12+ Acres, Rts 21 & 120, High Visibility
      5626 Des Plaines Ct, Gurnee, IL 60031
      View Details
    • $1,749,000
      19,000 SF

      Gurnee, IL Mixed-Use Investment

      19,000 SF Industrial/Retail Opportunity
      3500 Grand Ave, Gurnee, IL 60031
      View Details
    • Contact for pricing
      17,285 SF

      Gurnee Industrial Facility For Sale

      17,285 SF Manufacturing/Warehouse, 3.34 Acres
      2180 Swanson Ct, Gurnee, IL 60031
      View Details
    • $395,000
      2,550 SF

      Spacious Townhome with Nature Views

      End-unit townhome with pond and woods views, close to amenities.
      1315 Queen Ann Ln, Gurnee, IL 60031
      View Details
    • Contact for pricing
      18,720 SF

      Gurnee Warehouse with Expansion Land

      18,720 SF warehouse with lease in place and expansion land.
      940 Lakeside Dr, Gurnee, IL 60031
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Mixed-Use Property on Grand Avenue

      Mixed-use property with retail, office, and warehouse space available.
      3575 Grand Ave, Gurnee, IL 60031
      View Details
    • Contact for pricing

      Mixed-Use Property on Grand Avenue

      Versatile commercial space with high visibility and flexible zoning.
      3575 Grand Ave, Gurnee, IL 60031
      View Details
    • Contact for pricing
      26,836 SF

      Retail Space Near Gurnee Mills

      Retail space with high visibility near Gurnee Mills.
      6050 Gurnee Mills Cir E, Gurnee, IL 60031
      View Details
    • Contact for pricing
      37,462 SF

      Gurnee Commercial Space For Rent

      New commercial building in Gurnee, ideal for retail or office.
      34498 N Old Walnut Cir, Gurnee, IL 60031
      View Details
    • Contact for pricing
      3,565 SF

      Gurnee Office Suites Available

      Move-in ready spaces, ample parking.
      495-505 Rte 21, Gurnee, IL 60031
      View Details
    • $14 SF/Yr
      4,800 SF

      Gurnee Office Suites for Lease

      Multiple Suites, 522-2128 sq ft
      135 Greenleaf St, Gurnee, IL 60031
      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.
    4190 Old Grand Ave
    Gurnee, IL 60031-2706
    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.