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Property profile & analytics
OFF-MARKET
Estimated value
$1,630,000
Residential income homes
2239 Rand Rd 51, Palatine, IL 60074-2350
Entity Owned
2-yr Hold
Free & Clear
Property ID
US28-2249136
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,956 SF
Lot
0.49 ac (21,257 SF)
APN
02-02-102-023
UPID
US28-2249136
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
-
MJ's Landscaping Landscaping General Contractor
-
Brown Tree Service Inc Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.70M
CAP Approach
CAP
$990k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.63M
Owner & transaction history
2239 North LLC · 2 yrs held
2239 North LLC
since 2023
Last sale
$1.6M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.1M
+160.2%
Neighborhood: shopping center
$1.1M
+32.8%
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
$1,725,000
ML approach
$1,700,000
CAP Approach
CAP Return
Estimation
6%
$1,070,000
6.5%
$990,000
7%
$920,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,130,000
Change: +160% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,085,000
Change: +33% · Conversion: Difficult
Blend value · Realmo final
$1.63M
Range $1.47M – $1.79M · ±10% · vs last sale $1.55M (Dec 21 2023)
Last sale anchor
$1.55M
Dec 21 2023
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
$329 / 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
$15,632
Tax year 2022
Assessed value
$57,999
Assessed 2022
Previous assessed
$57,999
+0.0% YoY
Effective rate
26.95%
On assessed value
Assessed land
$13,817
Assessed improvement
$44,182
Land market value
$138,170
Improvement market value
$441,820
Total market value
$579,990
Applied tax rate
29,167.0000
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
CENTRAL
Stories
2
Units
2
Bathrooms
4
Total area
4,956 SF
Lot
0.49 ac (21,257 SF)
APN
02-02-102-023
UPID
US28-2249136
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
COMMERCIAL (GENERAL)
Est. value
$2.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
2
Units
2
Bathrooms
4
Lot
0.49 ac
Current owner
From public records · entity-resolved
2239 North LLC
Entity
Free & Clear · 2 yrs held
Mailing address
340 ANTHONY TRL, NORTHBROOK, IL 60062-2014
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2023
—
2239 North LLC
Atomic Auto Spa 2 LLC
Quit Claim Deed
related
—
Sep 29, 2023
$1,550,000
Kingston Valley Enterprises LLC
Jason Landry
Deed
—
Mar 8, 2002
—
Landry Trust
Swartz Trust
Quit Claim Deed
related
$240,000 · Suburban Bank & Trust Co
Aug 25, 1999
—
Swartz Trust
Harris Bank Barrington Trustee
Grant Deed
related
—
—
—
Jason L Swartz
—
Deed Of Trust
related
$51,000 · Suburban Bank Barrington
—
—
Landry,jason Living Trust
—
Deed Of Trust
related
$615,000 · Central Fed'l S&l/chicago
—
—
Landry,tr
—
Deed Of Trust
related
$550,000 · Plaza Bank NA
—
—
Landry Jason Living Trust
—
Deed Of Trust
related
$223,322 · Lori Blackwell
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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