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Property profile & analytics
OFF-MARKET
Estimated value
$1,875,000
Auto shops
2232 Rand Rd, Palatine, IL 60074-1167
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US28-2343919
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1997
Lot
1.16 ac (50,530 SF)
APN
02-02-101-022
UPID
US28-2343919
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
-
Car City Inc Car Dealership
-
Leonard's Plumbing Electrical Heating and Cooling Repair HVAC Service General Contractor
-
Palatine Electrical Pros Electrical Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.88M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.88M
Owner & transaction history
Chiland Investments LLC · 1 yrs held
Chiland Investments LLC
since 2024
Last sale
$1.9M
6 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 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
$1,875,000
ML approach
$1,875,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.88M
Range $1.69M – $2.06M · ±10% · vs last sale $1.88M (Oct 16 2024)
Last sale anchor
$1.88M
Oct 16 2024
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 2022Property tax & assessments
Tax year 2022
Tax billed
$45,661
Tax year 2022
Assessed value
$159,428
Assessed 2022
Previous assessed
$159,428
+0.0% YoY
Effective rate
28.64%
On assessed value
Assessed land
$125,845
Assessed improvement
$33,583
Land market value
$503,380
Improvement market value
$134,332
Total market value
$637,712
Applied tax rate
29,173.0000
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1997
Heating
NONE
Stories
1
Lot
1.16 ac (50,530 SF)
APN
02-02-101-022
UPID
US28-2343919
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
Building & site characteristics
From public records
Year built
1997
Heating
NONE
Stories
1
Lot
1.16 ac
Current owner
From public records · entity-resolved
Chiland Investments LLC
Entity
Mailing address
2228 N RAND RD, PALATINE, IL 60074-1161
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 1, 2024
—
Chiland Investments LLC
—
Deed
related
$739,000 · Small Business Growth Corporation
Oct 16, 2024
$1,875,000
Chiland Investments LLC
Lad Investments LLC
Warranty Deed
$900,000 · Village Bank & Trust
Aug 7, 2024
—
Lad Investments LLC
—
Deed
related
$900,000 · Village Bank & Trust
—
—
Lad Investments LLC
—
Deed Of Trust
related
$495,000 · Firstar Bank Illinois
—
—
Lad Investments LLC
—
Deed Of Trust
related
$273,183 · Village Bk
—
—
Lad Investments LLC
—
Deed Of Trust
related
$642,005 · Village Bk
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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