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Property profile & analytics
OFF-MARKET
Estimated value
$5,860,000
Retail space
2414 Sheridan Rd Zion, IL 60099-2333
Individually Owned
18-yr Hold
~
Est. High Equity
Property ID
US28-0123318
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2009
Construction
FRAME
Total area
66,140 SF
Lot
0.87 ac (37,814 SF)
APN
04-21-218-023
UPID
US28-0123318
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
$5.25M
Blend (final)
Blend
$5.86M
Owner & transaction history
Northern Il Medical Prop · 18 yrs held
Northern Il Medical Prop
since 2007
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$8.0M
+107.5%
Commercial (general)
$7.9M
+105.3%
Apartment house (5+ units)
$7.4M
+91.9%
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 Zion submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Zion 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
RETAIL STORES
$3,860,000
Current use
OFFICE BUILDING
$8,005,000
Change: +107% · Conversion: Easy
COMMERCIAL (GENERAL)
$7,920,000
Change: +105% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$7,405,000
Change: +92% · Conversion: Difficult
WAREHOUSE, STORAGE
$5,595,000
Change: +45% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$5,115,000
Change: +33% · Conversion: Difficult
Blend value · Realmo final
$5.86M
Range $5.27M – $6.45M · ±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
$89 / 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
$269,877
Tax year 2023
Assessed value
$1,908,582
Assessed 2023
Previous assessed
$1,888,090
+1.1% YoY
Effective rate
14.14%
On assessed value
Assessed land
$103,426
Assessed improvement
$1,805,156
Land market value
$310,309
Improvement market value
$5,416,010
Total market value
$5,726,319
Applied tax rate
2,003.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2009
Construction
FRAME
Heating
NONE
Total area
66,140 SF
Lot
0.87 ac (37,814 SF)
APN
04-21-218-023
UPID
US28-0123318
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
RETAIL STORES Current
Est. value
$3.9M
OFFICE BUILDING
Est. value
$8.0M
COMMERCIAL (GENERAL)
Est. value
$7.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.4M
WAREHOUSE, STORAGE
Est. value
$5.6M
INDUSTRIAL (GENERAL)
Est. value
$5.1M
RETAIL STORES Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
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
2009
Construction
FRAME
Heating
NONE
Lot
0.87 ac
Current owner
From public records · entity-resolved
Northern Il Medical Prop
Individual
Mailing address
2414 SHERIDAN RD, ZION, IL 60099-2333
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 15, 2007
$675,000
Northern Il Medical Prop
Pierson,thomas P & Meganne
Warranty Deed
—
—
—
Cleburn Mcilhany
—
Deed Of Trust
related
$131,868 · Taylor Bean & Whitaker Mtg
—
—
Thomas P Pierson
—
Deed Of Trust
related
$200,000 · First Midwest 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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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