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Property profile & analytics
OFF-MARKET
Estimated value
$570,000
Banks
1746 2nd St Highland Park, IL 60035-3204
Trust Owned
21-yr Hold
Absentee Owner
Free & Clear
Property ID
US28-5690505
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2006
Construction
BRICK
Total area
5,393 SF
Lot
0.34 ac (15,006 SF)
APN
16-23-315-027
UPID
US28-5690505
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
-
BMO Bank N.A Branches Bank Loan Service
-
ATM (BMO Harris Bank) Atm
-
BMO Harris Bank - Mortgage Banker (Andrew D Hambleton) Loan Service Bank
-
BMO Harris Bank Mortgage Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$490k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$653k
Blend (final)
Blend
$570k
Owner & transaction history
Harris Trust & Savings Bank · 21 yrs held
Harris Trust & Savings Bank
since 2004
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$620,000
+48.9%
Medical building
$460,000
+10.6%
Commercial (general)
$445,000
+7.4%
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 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
$490,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$415,000
Current use
RESTAURANT
$620,000
Change: +49% · Conversion: Difficult
MEDICAL BUILDING
$460,000
Change: +11% · Conversion: Difficult
COMMERCIAL (GENERAL)
$445,000
Change: +7% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$440,000
Change: +6% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$440,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$410,000
Change: -2% · Conversion: Difficult
OFFICE BUILDING
$370,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$570k
Range $513k – $627k · ±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
$106 / 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
$76,982
Tax year 2023
Assessed value
$644,284
Assessed 2023
Previous assessed
$844,627
-23.7% YoY
Effective rate
11.95%
On assessed value
Assessed land
$291,271
Assessed improvement
$353,013
Land market value
$873,900
Improvement market value
$1,059,145
Total market value
$1,933,045
Applied tax rate
18,079.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
2006
Construction
BRICK
Heating
NONE
Total area
5,393 SF
Lot
0.34 ac (15,006 SF)
APN
16-23-315-027
UPID
US28-5690505
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
FINANCIAL BUILDING Current
Est. value
$415,000
RESTAURANT
Est. value
$620,000
MEDICAL BUILDING
Est. value
$460,000
COMMERCIAL (GENERAL)
Est. value
$445,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$440,000
INDUSTRIAL (GENERAL)
Est. value
$440,000
RETAIL STORES
Est. value
$410,000
OFFICE BUILDING
Est. value
$370,000
FINANCIAL BUILDING Current
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
RETAIL STORES
OFFICE BUILDING
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
2006
Construction
BRICK
Heating
NONE
Lot
0.34 ac
Current owner
From public records · entity-resolved
Harris Trust & Savings Bank
Trust
Free & Clear · 21 yrs held
Mailing address
111 W MONROE ST24W, CHICAGO, IL 60603-4096
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 21, 2004
$2,000,000
Harris Trust & Savings Bank
Green Bay Trust
Grant 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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