1039 Sheridan Rd Winthrop Harbor, IL 60096-1696
Property profile & analytics
1039 Sheridan Rd Winthrop Harbor, IL 60096-1696
- Retail space
- 4,032 SF
- 0.28 lot acres
Property ID
US28-0746670
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.
Location Intelligence
Current Use by Public Records
- Retail space
Property Details for 1039 Sheridan Rd
- Year built
- 1960
- Construction
- FRAME
- Lot size
- 0.28 lot acres
- Property size
- 4,032 SF
- Property type
- Retail space
- APN
- 04-10-307-009
- APU
- 410307009
Description
Exceptional investment opportunity in Winthrop Harbor, IL! This mixed-use property boasts 8,000 square feet on a 1.1-acre lot at the hard corner of Sheridan Rd and 11th St., offering high visibility and accessibility. The property features ten units: nine apartments (a mix of six two-bedroom and three one-bedroom units, all with long-term tenants and annual rent increases) and one coach house, plus four garages, all currently occupied at 100% occupancy. A restaurant tenant has occupied the retail space since 2017, with lease extensions in place. An additional retail pad (2,000-4,000 sq ft) is ready for development, presenting significant upside potential. The property benefits from a strong NOI of $112,368 (pro-forma NOI of $115,740) and a current cap rate of 6.24% (pro-forma 6.43%). Renovated in 2018, this property enjoys a prime location near the North Point Marina (the largest freshwater marina in the US), just 1.3 miles from the Wisconsin state line and benefits from high daily vehicle traffic (19,700 VPD). The site is also approved for cannabis sales, adding another potential revenue stream. Ample parking is available. This is a value-add opportunity with significant potential for increased profitability. Asking price is $1,800,000.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- ML approach
- $315,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $685,000
- 6.5%
- $635,000
- 7%
- $590,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $673,000
- AI Estimate
- $387,000
Market price range: $188k - $878kMarket price range: $169k - $468k -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $515,000 Current use
- COMMERCIAL (GENERAL)
- $730,000 Change: +43% Conversion: Easy
- AUTO REPAIR, GARAGE
- $705,000 Change: +37% Conversion: Difficult
- OFFICE BUILDING
- $490,000 Change: -5% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Winthrop Harbor
- County
- Lake
- State
- Illinois
- Longitude
- -87.8235
- Latitude
- 42.4757
- 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
$10,134
$16,378
$107,384
$123,762
-
$49,139
$322,184
$371,323
