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Property profile & analytics
OFF-MARKET
Estimated value
$2,945,000
Retail space
1855 Deerfield Rd Highland Park, IL 60035-3750
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US28-0187362
Property summary
AI-generated overview
Garrity Square, located at 1855 Deerfield Rd in Highland Park, Illinois (zip code 60035), offers a prime retail opportunity. This single-story shopping center comprises 12,000 square feet and features ten suites. Currently, 1,100 square feet of vacant space is available for lease, ideal for a variety of businesses. The minimum leasable space is 1,100 square feet, with a maximum contiguous space of 1,100 square feet. The available space was previously occupied by a clothing store and offers a beautifully finished interior, ready for immediate occupancy starting January 1st, 2025. The center enjoys a strong traffic count on Deerfield Road, further enhanced by the presence of popular local businesses and a Starbucks. This location provides excellent visibility and accessibility for businesses seeking a thriving Highland Park presence. The property is situated at latitude 42.17116122 and longitude -87.8248299.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1988
Construction
BRICK
Total area
18,570 SF
Lot
1.58 ac (68,955 SF)
APN
16-27-301-037
UPID
US28-0187362
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
-
Judy's Pizzeria Restaurant
-
Dr. Ted J. Piotrowski, DDS Dental Office
-
Guys & Co. Clothing & Fashion Store
-
Master Cleaner (Bike/Boat/Book/etc) Store
-
New China Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.92M
Comparable Approach
Comparable
$3.70M
Blend (final)
Blend
$2.95M
Owner & transaction history
Lill Street Props LLC Series 7 · 11 yrs held
Lill Street Props LLC Series 7
since 2014
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.4M
+42.7%
Auto repair, garage
$3.2M
+37.4%
Restaurant
$3.2M
+34.1%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$3,165,000
6.5%
$2,920,000
7%
$2,715,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,360,000
Current use
COMMERCIAL (GENERAL)
$3,370,000
Change: +43% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,245,000
Change: +37% · Conversion: Difficult
RESTAURANT
$3,170,000
Change: +34% · Conversion: Easy
OFFICE BUILDING
$2,250,000
Change: -5% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,080,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$2.95M
Range $2.65M – $3.24M · ±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
$159 / 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
$84,622
Tax year 2023
Assessed value
$1,407,926
Assessed 2023
Previous assessed
$946,285
+48.8% YoY
Effective rate
6.01%
On assessed value
Assessed land
$523,729
Assessed improvement
$884,197
Land market value
$1,571,344
Improvement market value
$2,652,856
Total market value
$4,224,200
Applied tax rate
18,006.0000
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
1988
Construction
BRICK
Heating
NONE
Total area
18,570 SF
Lot
1.58 ac (68,955 SF)
APN
16-27-301-037
UPID
US28-0187362
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
RETAIL STORES Current
Est. value
$2.4M
COMMERCIAL (GENERAL)
Est. value
$3.4M
AUTO REPAIR, GARAGE
Est. value
$3.2M
RESTAURANT
Est. value
$3.2M
OFFICE BUILDING
Est. value
$2.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.1M
RETAIL STORES Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RESTAURANT
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1988
Construction
BRICK
Heating
NONE
Lot
1.58 ac
Current owner
From public records · entity-resolved
Lill Street Props LLC Series 7
Entity
Mailing address
2000 N RACINE AVE, CHICAGO, IL 60614-4045
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 14, 2024
—
Garrity Square LLC
—
Deed
related
$4,300,000 · Wintrust Bank NA
Jul 9, 2020
—
Garrity Square LLC
—
Deed
related
$6,400,000 · Fifth Third Bk NA
Oct 9, 2014
$550,000
Lill Street Props LLC Series 7
2341 Janssen Ptshp
Grant Deed
—
Apr 19, 2006
$5,500,000
Garrity Square LLC
Lake Cook-garrity Sq Shopping
Grant Deed
—
May 13, 2005
—
Lake Cook Garrity Square Shopping C
Lasalle Bank NA
Deed
$600,000 · First Bank Of Highland Park
—
—
Garrity Square LLC
—
Loan Modification
related
$6,400,000 · Mb Fin'l Bk
—
—
American Natl Bk & Tr Chgo Tte
—
Deed Of Trust
related
$2,800,000 · First Bank Highland Park
—
—
Garrity Square LLC
—
Loan Modification
related
$6,400,000 · Fifth Third Bk NA
—
—
Garrity Square LLC
—
Deed Of Trust
related
$5,923,792 · Mb Financial Bank NA
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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