Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$715,000
Office buildings
229 Ctr St Grayslake, IL 60030-1534
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US28-2112243
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1918
Construction
FRAME
Total area
5,330 SF
Lot
0.17 ac (7,501 SF)
APN
06-26-315-005
UPID
US28-2112243
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$599k
Blend (final)
Blend
$715k
Owner & transaction history
High Hills Property LLC · 8 yrs held
High Hills Property LLC
since 2017
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$930,000
+81.0%
Retail stores
$640,000
+23.9%
Apartment house (5+ units)
$625,000
+21.6%
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 Grayslake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grayslake 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$515,000
Current use
AUTO REPAIR, GARAGE
$930,000
Change: +81% · Conversion: Difficult
RETAIL STORES
$640,000
Change: +24% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$625,000
Change: +22% · Conversion: Easy
COMMERCIAL (GENERAL)
$555,000
Change: +8% · Conversion: Easy
WAREHOUSE, STORAGE
$450,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$715k
Range $644k – $787k · ±10%
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
$134 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$20,788
Tax year 2023
Assessed value
$184,055
Assessed 2023
Previous assessed
$173,316
+6.2% YoY
Effective rate
11.29%
On assessed value
Assessed land
$19,408
Assessed improvement
$164,647
Land market value
$58,230
Improvement market value
$493,990
Total market value
$552,220
Applied tax rate
7,013.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1918
Construction
FRAME
Heating
NONE
Total area
5,330 SF
Lot
0.17 ac (7,501 SF)
APN
06-26-315-005
UPID
US28-2112243
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
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$515,000
AUTO REPAIR, GARAGE
Est. value
$930,000
RETAIL STORES
Est. value
$640,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$625,000
COMMERCIAL (GENERAL)
Est. value
$555,000
WAREHOUSE, STORAGE
Est. value
$450,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1918
Construction
FRAME
Heating
NONE
Lot
0.17 ac
Current owner
From public records · entity-resolved
High Hills Property LLC
Entity
Mailing address
38115 N CASHMORE RD, WADSWORTH, IL 60083-9656
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 11, 2017
$600,000
High Hills Property LLC
Gateway Capital Properties LLC
Warranty Deed
—
Feb 16, 2016
—
Gateway Capital Properties LLC
Seidenberg,noah A & Kathy M
Quit Claim Deed
related
—
Aug 27, 2008
—
Noah A Seidenberg
—
Trustees Deed
related
$584,000 · Associated Bank
—
—
Noah A Seldenberg
—
Loan Modification
related
—
—
—
Noah A Seidenberg
—
Deed Of Trust
related
$108,150 · State Financial Bank
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 229 Ctr St?
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.
