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Property profile & analytics
OFF-MARKET
Estimated value
$67,650,000
Parking lots & garages
1050 Western Ave, Lake Forest, IL 60045-1207
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US28-1899181
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1985
Construction
BRICK
Total area
40,197 SF
Lot
0.96 ac (41,852 SF)
APN
12-28-307-012
UPID
US28-1899181
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$79.73M
Blend (final)
Blend
$67.65M
Owner & transaction history
Gershman Properties LLC · 18 yrs held
Gershman Properties LLC
since 2007
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lake Forest submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Forest submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$67.65M
Range $60.89M – $74.42M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$1,683 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$81,576
Tax year 2023
Assessed value
$1,096,262
Assessed 2023
Previous assessed
$1,351,017
-18.9% YoY
Effective rate
7.44%
On assessed value
Assessed land
$522,470
Assessed improvement
$573,792
Land market value
$1,567,567
Improvement market value
$1,721,548
Total market value
$3,289,115
Applied tax rate
10,014.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
1985
Construction
BRICK
Heating
NONE
Total area
40,197 SF
Lot
0.96 ac (41,852 SF)
APN
12-28-307-012
UPID
US28-1899181
Jurisdiction
LAKE
Metro division
LAKE COUNTY-KENOSHA COUNTY, IL-WI METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1985
Construction
BRICK
Heating
NONE
Lot
0.96 ac
Current owner
From public records · entity-resolved
Gershman Properties LLC
Entity
Mailing address
12300 WILSHIRE BLVD STE #310, LOS ANGELES, CA 90025-1057
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 10, 2017
—
Gershman Properties LLC
—
Deed
related
$7,330,000 · Miscellaneous Ins Co
Oct 4, 2017
—
Gershman Properties LLC
—
Deed
related
$7,330,000 · Miscellaneous Ins Co
Dec 3, 2007
$13,880,000
Gershman Properties LLC
Western & Laurel Partners LLC
Special Warranty Deed
—
Jun 24, 2003
—
Western & Laurel Partners LLC
Knauz,h William
Grant Deed
$6,480,000 · Harris Bank Glencoe Northbrook
—
—
Gershman Properties LLC
—
Deed Of Trust
related
$7,330,000 · Miscellaneous Ins Co
—
—
Gershman Properties LLC
—
Deed Of Trust
related
$7,330,000 · Miscellaneous Ins Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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