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Property profile & analytics
OFF-MARKET
Estimated value
$820,000
Warehouses
170 Commerce Dr, Grayslake, IL 60030-1658
Individually Owned
4-yr Hold
Free & Clear
Property ID
US28-2143089
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1997
Construction
BRICK
Total area
8,698 SF
Lot
0.67 ac (29,002 SF)
APN
06-36-101-003
UPID
US28-2143089
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
$700k
Comparable Approach
Comparable
$855k
Blend (final)
Blend
$820k
Owner & transaction history
Grayslake Community Park District · 4 yrs held
Grayslake Community Park District
since 2022
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.0M
+42.1%
Apartment house (5+ units)
$1.0M
+39.4%
Commercial (general)
$905,000
+23.4%
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 Grayslake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grayslake 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%
$760,000
6.5%
$700,000
7%
$650,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$730,000
Current use
RETAIL STORES
$1,040,000
Change: +42% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$1,020,000
Change: +39% · Conversion: Difficult
COMMERCIAL (GENERAL)
$905,000
Change: +23% · Conversion: Difficult
OFFICE BUILDING
$840,000
Change: +15% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$685,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$820k
Range $738k – $902k · ±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
$94 / 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
$19,075
Tax year 2023
Assessed value
$217,405
Assessed 2023
Previous assessed
$169,493
+28.3% YoY
Effective rate
8.77%
On assessed value
Assessed land
$109,910
Assessed improvement
$107,495
Land market value
$329,763
Improvement market value
$322,517
Total market value
$652,280
Applied tax rate
7,060.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1997
Construction
BRICK
Heating
NONE
Total area
8,698 SF
Lot
0.67 ac (29,002 SF)
APN
06-36-101-003
UPID
US28-2143089
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
WAREHOUSE, STORAGE Current
Est. value
$730,000
RETAIL STORES
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$905,000
OFFICE BUILDING
Est. value
$840,000
INDUSTRIAL (GENERAL)
Est. value
$685,000
WAREHOUSE, STORAGE Current
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
OFFICE BUILDING
INDUSTRIAL (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
1997
Construction
BRICK
Heating
NONE
Lot
0.67 ac
Current owner
From public records · entity-resolved
Grayslake Community Park District
Individual
Free & Clear · 4 yrs held
Mailing address
240 COMMERCE DR, GRAYSLAKE, IL 60030-1658
Ownership since
2022
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
Jun 22, 2022
—
Grayslake Community Park District
Cm Properties LLC Series 170
Warranty Deed
—
Jun 12, 2013
—
Cm Properties LLC Series 170
Martin,james D
Quit Claim Deed
related
—
—
—
Cm Properties LLC Series 170
—
Deed Of Trust
related
$849,900 · State Bk/lakes
—
—
James D Martin
—
Deed Of Trust
related
$480,000 · State Bank Of The Lakes
—
—
James D Martin
—
Deed Of Trust
related
$449,000 · State Bank Of The Lakes
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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