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Property profile & analytics
OFF-MARKET
Estimated value
$11,000,000
Commercial real estate
1220 Us Hwy 45, Vernon Hills, IL 60061-4114
Entity Owned
1-yr Hold
Free & Clear
Property ID
US28-2916951
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2010
Total area
61,280 SF
Lot
2.37 ac (103,368 SF)
APN
15-15-313-003
UPID
US28-2916951
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
$11.00M
CAP Approach
CAP
$9.76M
Comparable Approach
Comparable
$8.07M
Blend (final)
Blend
$11.00M
Owner & transaction history
Landing At Town Center LLC · 1 yrs held
Landing At Town Center LLC
since 2024
Last sale
$11.0M
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 Vernon Hills submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Vernon Hills 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
$11,000,000
ML approach
$11,000,000
CAP Approach
CAP Return
Estimation
6%
$10,570,000
6.5%
$9,760,000
7%
$9,060,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$11,120,000
Current use
AUTO REPAIR, GARAGE
$10,710,000
Change: -4% · Conversion: Difficult
RESTAURANT
$10,455,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$11.00M
Range $9.90M – $12.10M · ±10% · vs last sale $11.00M (Aug 1 2024)
Last sale anchor
$11.00M
Aug 1 2024
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
$180 / 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
$560,720
Tax year 2023
Assessed value
$1,916,475
Assessed 2023
Previous assessed
$6,044,173
-68.3% YoY
Effective rate
29.26%
On assessed value
Assessed land
$155,460
Assessed improvement
$1,761,015
Land market value
$466,427
Improvement market value
$5,283,573
Total market value
$5,750,000
Applied tax rate
16,244.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
2010
Heating
NONE
Cooling
CENTRAL
Bathrooms
7
Total area
61,280 SF
Lot
2.37 ac (103,368 SF)
APN
15-15-313-003
UPID
US28-2916951
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
COMMERCIAL (GENERAL) Current
Est. value
$11.1M
AUTO REPAIR, GARAGE
Est. value
$10.7M
RESTAURANT
Est. value
$10.5M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RESTAURANT
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
2010
Heating
NONE
Cooling
Yes
Bathrooms
7
Lot
2.37 ac
Current owner
From public records · entity-resolved
Landing At Town Center LLC
Entity
Free & Clear · 1 yrs held
Mailing address
6191 N STATE HWY 161ST ST STE #100, IRVING, TX 75038-2290
Ownership since
2024
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
Aug 1, 2024
$11,000,000
Landing At Town Center LLC
Fpa Wc Commons LLC
Special Warranty Deed
—
Dec 31, 2018
$24,550,000
Fpa Wc Commons LLC
Iresi Vernon Hills Commons LLC
Special Warranty Deed
$16,800,000 · Berkadia Commercial Mortgage LLC
May 8, 2017
$23,000,000
Iresi Vernon Hills Commons LLC
Vhtc Lot 10 LLC
Special Warranty Deed
$13,800,000 · Parkway Bank & Trust Co
Mar 28, 2012
—
Vhtc Lot 10 LLC
Vhtc Lot 3 LLC
Special Warranty Deed
$15,270,000 · Wells Fargo Bank NA
Sep 30, 2011
—
Vhtc Lot 4 LLC
—
Loan Modification
related
$5,500,000 · Associated Bk/green Bay
Feb 11, 2011
—
Vhtc LLC
Vhtc Lot 3 LLC
Quit Claim Deed
related
—
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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