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Property profile & analytics
OFF-MARKET
Estimated value
$8,635,000
Office buildings
231 Skokie Hwy, Lake Bluff, IL 60044
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US28-1484240
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1960
Construction
FRAME
Total area
1,165 SF
Lot
1.59 ac (69,086 SF)
APN
12-18-400-026
UPID
US28-1484240
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
$7.99M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.64M
Owner & transaction history
Lake Bluff Mhp LLC · 1 yrs held
Lake Bluff Mhp LLC
since 2025
Last sale
$8.2M
7 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 Lake Bluff submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Bluff 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
$10,145,000
ML approach
$7,990,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$8.64M
Range $7.77M – $9.50M · ±10% · vs last sale $8.20M (Mar 27 2025)
Last sale anchor
$8.20M
Mar 27 2025
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
$7,412 / 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
$16,354
Tax year 2023
Assessed value
$240,275
Assessed 2023
Previous assessed
$238,085
+0.9% YoY
Effective rate
6.81%
On assessed value
Assessed land
$219,718
Assessed improvement
$20,557
Land market value
$659,220
Improvement market value
$61,677
Total market value
$720,897
Applied tax rate
10,007.0000
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
1960
Construction
FRAME
Heating
NONE
Total area
1,165 SF
Lot
1.59 ac (69,086 SF)
APN
12-18-400-026
UPID
US28-1484240
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
Building & site characteristics
From public records
Year built
1960
Construction
FRAME
Heating
NONE
Lot
1.59 ac
Current owner
From public records · entity-resolved
Lake Bluff Mhp LLC
Entity
Mailing address
900 SKOKIE BLVD #285, NORTHBROOK, IL 60062-4012
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 6, 2026
—
Lake Bluff Mhp LLC
—
Deed
related
$60,000,000 · Mfx Capital LLC
Mar 27, 2025
$8,200,000
Lake Bluff Mhp LLC
Ravinia Lake Bluff LLC
Special Warranty Deed
$1,570,000 · Berkadia Commercial Mortgage LLC
Apr 19, 2021
—
Us Bank National Association
Federal Rome Loan Mortgage Corporat
Assignment Of Deed
—
Dec 1, 2020
$1,000,000
Ravinia Lake Bluff LLC
Rockland Homes LLC
Special Warranty Deed
$4,170,000 · Berkadia Commercial Mortgage LLC
Sep 20, 2016
—
Rockland Homes LLC
—
Deed
related
$3,300,000 · Pan American Bank
Aug 15, 2006
$3,500,000
Rockland Homes LLC
Rockland Mobile Home Park LLC
Warranty Deed
—
Dec 1, 2003
—
Rockland Mobile Home Park LLC
—
Deed Of Trust
related
$1,100,000 · Libertyville Bank & Trust Co
Sep 13, 2001
—
Rockland Mobile Home Park LLC
Keating,louise H
Quit Claim Deed
related
—
Oct 7, 1997
—
Jeffrey D Jenkins
Keating,edwin J
Grant Deed
related
—
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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