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    Property profile & analytics

    228 Grn Bay Rd Highwood, IL 60040-1703

    • Investment properties
    • 488 SF
    • 0.08 lot acres
    OFF-MARKET
    Value Estimation
    Location Intelligence
    Property ID
    US28-2139632
    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

    • Del Rio Restaurant / Italian Restaurant / Restaurant

    Property Details for 228 Grn Bay Rd

    Year built
    1955
    Construction
    FRAME
    Lot size
    0.08 lot acres
    Property size
    488 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    16-15-418-002
    APU
    1615418002

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Highwood
    County
    Lake
    State
    Illinois
    Longitude
    -87.8095
    Latitude
    42.2009
    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
    $9,525
    $34,108
    $67,244
    $101,352
    -
    $102,334
    $201,752
    $304,086

    Comparable in this City

    • Value Estimation by Request
      8,937 SF

      205 High St

      OFFICE/RESIDENTIAL (MIXED USE) • 8,937 SF
      205 High St, Highwood, IL 60040-1618
      View Details
    • Value Estimation by Request
      1,911 SF

      103 Highwood Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,911 SF
      103 Highwood Ave, Highwood, IL 60040-1546
      View Details
    • Value Estimation
      $460,000
      8,616 SF

      131 Pleasant Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 8,616 SF
      131 Pleasant Ave, Highwood, IL 60040-1824
      View Details
    • Value Estimation
      $435,000
      9,430 SF

      740 Sheridan Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 9,430 SF
      740 Sheridan Rd, Highwood, IL 60040-1000
      View Details
    • Value Estimation by Request
      16,400 SF

      210 Green Bay Rd

      Individual retail properties • 16,400 SF
      210 Green Bay Rd, Highwood, IL 60040
      View Details
    • Value Estimation by Request
      0.28 Acres

      228 Grn Bay Rd

      VACANT COMMERCIAL LAND • 0.28 Acres
      228 Grn Bay Rd, Highwood, IL 60040-1703
      View Details

    Similar Nearby for Sale

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      16,400 SF

      Two-Story Retail Building For Sale

      Two-story retail building in Highwood entertainment corridor.
      210 Green Bay Rd, Highwood, IL 60040
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    • $1,450,000
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      Highwood Retail Center - Prime Location

      Six storefronts, ample parking, strong tenant base.
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      Retail Building in Highwood

      6,400 SF retail building with long-term tenants.
      742 Sheridan Rd, Highwood, IL 60040
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    • $1,200,000
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      Highwood Retail Building - For Sale

      Prime Highwood storefront, 16,400 sq ft.
      210 Green Bay Rd, Highwood, IL 60040
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    • Contact for pricing
      1,980 SF

      Highwood Restaurant Space with Patio

      Restaurant space with patio in vibrant Highwood location.
      524 Sheridan Rd, Highwood, IL 60040
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    228 Grn Bay Rd
    Highwood, IL 60040-1703
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    Realmo Value Estimation

    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.

    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.

    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
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