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Property profile & analytics
FOR SALE
Office buildings
1060 E Lake St, Hanover Park, IL 60133
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US28-2906736
For Sale
1 / 16
$1,600,000
1060 E Lake St, Hanover Park, IL 60133
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,157 SF
Lot
0.99 ac (43,124 SF)
Zoning code
C
APN
02-06-406-009
UPID
US28-2906736
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
Current use
Occupant on record · Public records
-
Kristen Forbes at CrossCountry Mortgage Loan Service Bank
-
Todd Holzknecht at CrossCountry Mortgage, LLC Loan Service Bank
-
HANOVER Park Medical Laboratory
-
Rocky DiTuri at CrossCountry Mortgage | NMLS# 224750 Loan Service Bank
-
Begum C Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.07M
Comparable Approach
Comparable
$1.63M
Blend (final)
Blend
$1.64M
Owner & transaction history
Srp Enterprises LLC · 7 yrs held
Srp Enterprises LLC
since 2018
6 recorded transactions
Zoning & alternative use
C · Hanover Park, IL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.1M
+25.7%
Retail stores
$2.0M
+20.2%
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 Hanover Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hanover Park 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%
$2,245,000
6.5%
$2,070,000
7%
$1,925,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,640,000
Current use
MEDICAL BUILDING
$2,065,000
Change: +26% · Conversion: Easy
RETAIL STORES
$1,975,000
Change: +20% · Conversion: Moderate
Blend value · Realmo final
$1.64M
Range $1.48M – $1.80M · ±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
$179 / 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
$29,865
Tax year 2023
Assessed value
$342,300
Assessed 2023
Previous assessed
$281,970
+21.4% YoY
Effective rate
8.72%
On assessed value
Assessed land
$133,190
Assessed improvement
$209,110
Land market value
$399,570
Improvement market value
$627,330
Total market value
$1,026,900
Applied tax rate
2,096.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Total area
9,157 SF
Lot
0.99 ac (43,124 SF)
Zoning code
C
APN
02-06-406-009
UPID
US28-2906736
Jurisdiction
DU PAGE
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
C · Hanover Park, IL
Zoning C · permitted uses
C · Hanover Park, IL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hanover Park. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$2.1M
RETAIL STORES
Est. value
$2.0M
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Lot
0.99 ac
Current owner
From public records · entity-resolved
Srp Enterprises LLC
Entity
Mailing address
1060 E LK ST, HANOVER PARK, IL 60133-5400
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
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
Jan 3, 2019
—
Srp Ents LLC
—
Trustees Deed
related
$120,000 · 1060 Lake LLC
Dec 26, 2018
$800,000
Srp Enterprises LLC
1060 Lake LLC
Warranty Deed
$640,000 · Stc Capital Bank
Nov 1, 2018
$800,000
1060 Lake LLC
1060 Properties LLC
Grant Deed
—
Jul 27, 2017
$495,000
1060 Properties LLC
Trust 9976
Grant Deed
—
Apr 9, 2001
—
National Bank Of Commerce Ttee
Dk Realty Partners LLC
Grant Deed
related
—
—
—
National Bank Of Commerce Ttee
—
Deed Of Trust
related
$625,000 · Advantage National Bank
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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