Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1860 Il Rte 83rd Ste, Unit 120 Grayslake, IL 60030-7928

    • Office buildings
    • 3,700 SF
    • 0.31 lot acres
    OFF-MARKET
    Value Estimations
    $545,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1137102
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 1860 Il Rte 83rd Ste

    Year built
    2003
    Construction
    BRICK
    Lot size
    0.31 lot acres
    Property size
    3,700 SF
    Property type
    Office buildings
    APN
    06-15-300-059
    APU
    615300059

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $478,000
      Market price range: $225k - $509k
      AI Estimate
      $547,000
      Market price range: $238k - $583k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $355,000
      Current use
      AUTO REPAIR, GARAGE
      $645,000
      Change: +81% Conversion: Difficult
      RETAIL STORES
      $445,000
      Change: +24% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $385,000
      Change: +8% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Grayslake
    County
    Lake
    State
    Illinois
    Longitude
    -88.0547
    Latitude
    42.3727
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $29,765
    $117,218
    $146,983
    -
    $89,304
    $351,689
    $440,993

    Comparable in this City

    • Value Estimation by Request
      1,850 SF

      1860 Il Rte 83rd Ste, Unit 121

      OFFICE BUILDING • 1,850 SF
      1860 Il Rte 83rd Ste, Grayslake, IL 60030-7928
      View Details
    • Value Estimation by Request
      4,638 SF

      265 Ctr St

      OFFICE BUILDING • 4,638 SF
      265 Ctr St, Grayslake, IL 60030-1534
      View Details
    • Value Estimation by Request
      2,480 SF

      161 Ctr St

      OFFICE BUILDING • 2,480 SF
      161 Ctr St, Grayslake, IL 60030-1532
      View Details
    • Value Estimation by Request
      7,548 SF

      1015 Corporate Cir

      OFFICE BUILDING • 7,548 SF
      1015 Corporate Cir, Grayslake, IL 60030-7813
      View Details
    • Value Estimation by Request
      1,850 SF

      1860 Il Rte 83rd Ste, Unit 119

      OFFICE BUILDING • 1,850 SF
      1860 Il Rte 83rd Ste, Grayslake, IL 60030-7928
      View Details
    • Value Estimation by Request
      784 SF

      34148 Barron Blvd

      OFFICE BUILDING • 784 SF
      34148 Barron Blvd, Grayslake, IL 60030
      View Details

    Similar Nearby for Sale

    • $265,000
      2,200 SF

      Grayslake Office Building - Great Potential

      2,200 sq ft Office, Route 83 Frontage
      375 Il Route 83, Grayslake, IL 60030
      View Details
    • $549,900
      0.30 Acres

      Grayslake Commercial Suites For Sale

      Five suites, plus apartment, suitable for retail or office.
      33125 N Us 45 Hwy, Grayslake, IL 60030
      View Details
    • $1,399,000
      6,823 SF

      Grayslake Office Building - Prime Location

      Fully Leased, High-End Office Suites
      146 Center St, Grayslake, IL 60030
      View Details
    • Contact for pricing
      36.70 Acres

      Grayslake Commercial Land Development

      36.7 Acres, Prime PUD Zoning, High Traffic
      0 Rte 120 & Rte 137, Libertyville, IL 60030
      View Details
    • $1,995,000
      34,218 SF

      Grayslake Industrial Space - Huge Potential

      Massive Office/Warehouse, 34,218 SF, 1.27 Acres
      350 Center St, Grayslake, IL 60030
      View Details
    • $950,000
      0.66 Acres

      Renovated Storefront Building with Parking

      Fully rented two-unit building on busy state highway.
      55 Barron Blvd, Grayslake, IL 60030
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Grayslake Commercial Space For Rent

      Office suites and storefronts available in Grayslake, Illinois.
      100 S Atkinson Rd, Grayslake, IL 60030
      View Details
    • Contact for pricing

      Renovated Office Suite in Grayslake

      Newly renovated office suite with flexible workspace in Grayslake, IL.
      70 S Us Highway 45, Grayslake, IL 60030
      View Details
    • Contact for pricing

      Grayslake Office Suites For Rent

      Office suites in Grayslake with shared amenities and utilities included.
      790 Barron Blvd, Grayslake, IL 60030
      View Details
    • Contact for pricing

      Grayslake Commercial Space Available

      Office suites and storefronts available in Grayslake, Illinois.
      100 S Atkinson Rd, Grayslake, IL 60030
      View Details
    • Contact for pricing

      Grayslake Commercial Space Available

      Office suites and storefronts available in Grayslake, Illinois.
      100 S Atkinson Rd, Grayslake, IL 60030
      View Details
    • $32 SF/Yr

      Renovated Office Suite in Grayslake

      Newly renovated office suite with flexible layout and excellent visibility.
      70 S Us Highway 45, Grayslake, IL 60030
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1860 Il Rte 83rd Ste, Unit 120
    Grayslake, IL 60030-7928
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.