New search
Property profile & analytics
OFF-MARKET
Estimated value
$3,765,000
Commercial land
18550 Grand Ave Gurnee, IL 60031-1511
Entity Owned
4-yr Hold
Free & Clear
Property ID
US28-0626774
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Lot
1.96 ac (85,378 SF)
APN
07-07-311-019
UPID
US28-0626774
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
$3.89M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.77M
Owner & transaction history
Mill Grove Investments LLC · 4 yrs held
Mill Grove Investments LLC
since 2022
Last sale
$3.7M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Gurnee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gurnee 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
$3,880,000
ML approach
$3,885,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.77M
Range $3.39M – $4.14M · ±10% · vs last sale $3.65M (Feb 11 2022)
Last sale anchor
$3.65M
Feb 11 2022
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
—
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
$29,672
Tax year 2023
Assessed value
$283,871
Assessed 2023
Previous assessed
$275,603
+3.0% YoY
Effective rate
10.45%
On assessed value
Assessed land
$283,871
Land market value
$851,698
Total market value
$851,698
Applied tax rate
8,134.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Heating
NONE
Lot
1.96 ac (85,378 SF)
APN
07-07-311-019
UPID
US28-0626774
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
Building & site characteristics
From public records
Heating
NONE
Lot
1.96 ac
Current owner
From public records · entity-resolved
Mill Grove Investments LLC
Entity
Free & Clear · 4 yrs held
Mailing address
5514 LINCOLN AVE, LISLE, IL 60532-2606
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
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 24, 2023
—
18550 Grand Avenue LLC
—
Deed
related
$9,500,000 · Tbk Bank Ssb
May 13, 2022
—
18550 Grand Avenue LLC
—
Deed
related
$2,737,500 · Tbk Bank Ssb
Feb 11, 2022
—
Mill Grove Investments LLC
18550 Grand Avenue LLC
Agreement Of Sale
—
Feb 11, 2022
$3,650,000
18550 Grand Avenue LLC
Rohrman General LLC
Warranty Deed
—
Nov 4, 2020
—
Rohrman General LLC
Rohrman Robert V Trust
Quit Claim Deed
—
Jul 30, 2004
$5,000,000
Robert V Rohrman
Western United Life Assurance
Quit Claim Deed
related
—
Jan 22, 2004
—
United Life Assurance Western
Lake County Sheriff
Trustees Deed
related
—
Apr 15, 2002
$11,775,000
Serfin Trust LLC
Fifth Third Bank Trustee
Trustees Deed
$11,775,000 · Western United Life Assurance
Apr 15, 2002
—
Fifth Third Bank Trustee
Celozzi Facilities LLC
Quit Claim Deed
related
—
Jul 25, 2001
—
Celozzi Facilities LLC
—
Grant Deed
related
$2,300,000 · Fifth Third Bank Chicago
Feb 10, 2000
$3,782,000
Celozzi Facilities LLC
Grand Premier Tr & Inv NA Ttee
Grant Deed
$7,600,000 · Grand National Bank
Nov 13, 1999
—
Grand Premier Tr & Inv INC Tte
—
Deed Of Trust
related
$1,800,000 · Bank Of Northern Illinois 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 18550 Grand Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
