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Property profile & analytics
OFF-MARKET
Estimated value
$725,000
Office buildings
122 Madison St Waukegan, IL 60085-4312
Trust Owned
15-yr Hold
Free & Clear
Property ID
US28-5241213
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1930
Construction
BRICK
Total area
10,812 SF
APN
08-21-412-019
UPID
US28-5241213
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
$674k
Blend (final)
Blend
$725k
Owner & transaction history
Board Of Trustees/cmnty Clg Distr · 15 yrs held
Board Of Trustees/cmnty Clg Distr
since 2010
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.1M
+69.2%
Warehouse, storage
$1.1M
+64.3%
Industrial (general)
$835,000
+24.1%
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 Waukegan submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waukegan 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
Alternative Use
Use
Estimation
OFFICE BUILDING
$675,000
Current use
RETAIL STORES
$1,140,000
Change: +69% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,105,000
Change: +64% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$835,000
Change: +24% · Conversion: Difficult
COMMERCIAL (GENERAL)
$680,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$725k
Range $653k – $798k · ±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
$67 / 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
Applied tax rate
9,062.0000
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
Off-Market
Year built
1930
Construction
BRICK
Heating
NONE
Total area
10,812 SF
APN
08-21-412-019
UPID
US28-5241213
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
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$675,000
RETAIL STORES
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$1.1M
INDUSTRIAL (GENERAL)
Est. value
$835,000
COMMERCIAL (GENERAL)
Est. value
$680,000
OFFICE BUILDING Current
RETAIL STORES
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
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
1930
Construction
BRICK
Heating
NONE
Current owner
From public records · entity-resolved
Board Of Trustees/cmnty Clg Distr
Trust
Free & Clear · 15 yrs held
Mailing address
19351 W WASHINGTON ST, GRAYSLAKE, IL 60030-1148
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 19, 2010
—
Board Of Trustees/cmnty Clg Distr
Restoration Asset Mgmt LLC
Grant Deed
—
Oct 18, 2010
—
Restoration Asset Mgmt LLC
Synergy Property Holdings LLC
Grant Deed
—
Sep 17, 2010
—
Synergy Property Holdings LLC
Sheriff Of Lake County
Trustees Deed
related
—
Jan 17, 2006
—
Branko A Kotevski
—
Trustees Deed
related
$850,000 · First Midwest Bank
—
—
Lake County Urban League Ttee
—
Deed Of Trust
related
$33,133 · Northern Trust 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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