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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Retail space
1765 Rand Rd Palatine, IL 60074-1127
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US28-5352627
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2000
Total area
2,601 SF
Lot
2.59 ac (112,820 SF)
APN
02-02-403-001
UPID
US28-5352627
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
-
Culver's Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$325k
CAP Approach
CAP
$555k
Comparable Approach
Comparable
$704k
Blend (final)
Blend
$505k
Owner & transaction history
Laka Property Management LLC · 1 yrs held
Laka Property Management LLC
since 2025
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$570,000
+47.1%
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 Palatine submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palatine 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
$325,000
CAP Approach
CAP Return
Estimation
6%
$600,000
6.5%
$555,000
7%
$515,000
Alternative Use
Use
Estimation
RETAIL STORES
$390,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$570,000
Change: +47% · Conversion: Moderate
OFFICE BUILDING
$350,000
Change: -10% · Conversion: Easy
AUTO REPAIR, GARAGE
$315,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$505k
Range $455k – $556k · ±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
$194 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$71,905
Tax year 2022
Assessed value
$251,060
Assessed 2022
Previous assessed
$228,552
+9.8% YoY
Effective rate
28.64%
On assessed value
Assessed land
$153,313
Assessed improvement
$97,747
Land market value
$613,252
Improvement market value
$390,988
Total market value
$1,004,240
Applied tax rate
29,153.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2000
Heating
NONE
Cooling
YES
Stories
1
Bathrooms
2
Total area
2,601 SF
Lot
2.59 ac (112,820 SF)
APN
02-02-403-001
UPID
US28-5352627
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL 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
RETAIL STORES Current
Est. value
$390,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$570,000
OFFICE BUILDING
Est. value
$350,000
AUTO REPAIR, GARAGE
Est. value
$315,000
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
2000
Heating
NONE
Cooling
Yes
Stories
1
Bathrooms
2
Lot
2.59 ac
Current owner
From public records · entity-resolved
Laka Property Management LLC
Entity
Mailing address
PO BOX 46126, CHICAGO, IL 60646-0126
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 11, 2026
—
Laka Property Management LLC
—
Deed
related
$984,000 · Somercor 504 INC
Jun 3, 2025
$2,100,000
Laka Property Management LLC
6241 N Kenmore LLC
Special Warranty Deed
$1,200,000 · Byline Bank
Aug 23, 2011
$1,500,000
6317 N Kenmore LLC
Pwk Group LLC
Warranty Deed
—
Dec 7, 2007
$1,950,000
Pwk Group LLC
Trakas,tom
Warranty Deed
$1,680,000 · Northbrook Bank & Trust Co
May 13, 2002
—
Demetrios Dimitropoulos
—
Trustees Deed
related
$1,475,000 · M & I Marshall & Isley Bank
Apr 23, 2002
—
Demetrios Dimitropoulos
Lasalle Bank NA Trustee
Grant Deed
related
—
Apr 19, 2002
—
Tam Trakas
Lasalle Bank NA Trustee
Grant Deed
related
—
Feb 8, 2002
—
Lasalle Bank NA Trustee
Trackas,tom
Grant Deed
related
—
Oct 26, 2001
$650,000
Tom Trackas
Best Friends Pet Care INC
Grant Deed
$360,000 · M & I Marshall & Isley Bank
Dec 6, 1999
—
Best Friends Pet Care INC
—
Deed Of Trust
related
—
Feb 19, 1999
$405,000
Best Friends Pet Care INC
Hughey Trust
Grant Deed
—
—
—
Pwk Group LLC
—
Deed Of Trust
related
$4,319,835 · Northbrook Bank & Trust Co
—
—
Best Friends Pet Care INC
—
Deed Of Trust
related
$1,000,000 · Individual
—
—
Demetrios Dimitropoulos
—
Deed Of Trust
related
$292,812 · M & I Marshall & Isley Bank
—
—
Demetrios Dimitropoulos
—
Deed Of Trust
related
$29,282 · M & I Marshall & Isley Bank
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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