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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Office buildings
1724 1st St, Highland Park, IL 60035-3202
Entity Owned
9-yr Hold
Free & Clear
Property ID
US28-1527708
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1950
Construction
BRICK
Total area
3,194 SF
Lot
0.16 ac (7,000 SF)
APN
16-23-321-015
UPID
US28-1527708
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
-
Nicasa Behavioral Health Services Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$395k
CAP Approach
CAP
$725k
Comparable Approach
Comparable
$617k
Blend (final)
Blend
$520k
Owner & transaction history
Richman Property Group LLC · 9 yrs held
Richman Property Group LLC
since 2017
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$580,000
+49.9%
Auto repair, garage
$560,000
+44.4%
Retail stores
$405,000
+5.1%
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 Highland Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Highland 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
$395,000
CAP Approach
CAP Return
Estimation
6%
$785,000
6.5%
$725,000
7%
$670,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$385,000
Current use
COMMERCIAL (GENERAL)
$580,000
Change: +50% · Conversion: Easy
AUTO REPAIR, GARAGE
$560,000
Change: +44% · Conversion: Difficult
RETAIL STORES
$405,000
Change: +5% · Conversion: Moderate
Blend value · Realmo final
$520k
Range $468k – $572k · ±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
$163 / 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
$21,158
Tax year 2023
Assessed value
$210,429
Assessed 2023
Previous assessed
$234,843
-10.4% YoY
Effective rate
10.05%
On assessed value
Assessed land
$135,926
Assessed improvement
$74,503
Land market value
$407,819
Improvement market value
$223,531
Total market value
$631,350
Applied tax rate
18,004.0000
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
1950
Construction
BRICK
Heating
NONE
Total area
3,194 SF
Lot
0.16 ac (7,000 SF)
APN
16-23-321-015
UPID
US28-1527708
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
$385,000
COMMERCIAL (GENERAL)
Est. value
$580,000
AUTO REPAIR, GARAGE
Est. value
$560,000
RETAIL STORES
Est. value
$405,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1950
Construction
BRICK
Heating
NONE
Lot
0.16 ac
Current owner
From public records · entity-resolved
Richman Property Group LLC
Entity
Free & Clear · 9 yrs held
Mailing address
472 BURTON AVE, HIGHLAND PARK, IL 60035-4939
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 26, 2017
—
Richman Property Group LLC
Richman Alvin Trust
Quit Claim Deed
—
May 10, 2011
—
Richman Alvin Trust
Trust 813
Quit Claim Deed
—
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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