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Property profile & analytics
OFF-MARKET
Estimated value
$10,930,000
Retail space
246 Grn Bay Rd, Highwood, IL 60040-1734
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US28-1640097
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2020
Construction
FRAME
Total area
49,226 SF
Lot
0.65 ac (28,449 SF)
APN
16-15-413-010
UPID
US28-1640097
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
-
The Benchmark of Highwood Apartment Building
-
Presidents' Leadership Council (PLC) Business To Business Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.54M
CAP Approach
CAP
$7.75M
Comparable Approach
Comparable
$10.58M
Blend (final)
Blend
$10.93M
Owner & transaction history
Hp Ventures Group LLC Green Bay Pro · 4 yrs held
Hp Ventures Group LLC Green Bay Pro
since 2021
Last sale
$11.3M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$8.9M
+42.7%
Auto repair, garage
$8.6M
+37.4%
Restaurant
$8.4M
+34.1%
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 Highwood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Highwood 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
$12,870,000
ML approach
$10,540,000
CAP Approach
CAP Return
Estimation
6%
$8,390,000
6.5%
$7,745,000
7%
$7,190,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$8,935,000
Change: +43% · Conversion: Easy
AUTO REPAIR, GARAGE
$8,605,000
Change: +37% · Conversion: Difficult
RESTAURANT
$8,400,000
Change: +34% · Conversion: Easy
Blend value · Realmo final
$10.93M
Range $9.84M – $12.02M · ±10% · vs last sale $11.30M (Sep 24 2021)
Last sale anchor
$11.30M
Sep 24 2021
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
$222 / 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
$258,032
Tax year 2023
Assessed value
$3,479,068
Assessed 2023
Previous assessed
$2,966,370
+17.3% YoY
Effective rate
7.42%
On assessed value
Assessed land
$284,829
Assessed improvement
$3,194,239
Land market value
$854,572
Improvement market value
$9,583,675
Total market value
$10,438,247
Applied tax rate
18,045.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
2020
Construction
FRAME
Heating
NONE
Total area
49,226 SF
Lot
0.65 ac (28,449 SF)
APN
16-15-413-010
UPID
US28-1640097
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
COMMERCIAL (GENERAL)
Est. value
$8.9M
AUTO REPAIR, GARAGE
Est. value
$8.6M
RESTAURANT
Est. value
$8.4M
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RESTAURANT
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
2020
Construction
FRAME
Heating
NONE
Lot
0.65 ac
Current owner
From public records · entity-resolved
Hp Ventures Group LLC Green Bay Pro
Entity
Mailing address
5000 W LAWRENCE AVE, CHICAGO, IL 60630-3822
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 24, 2021
$11,300,000
Hp Ventures Group LLC Green Bay Pro
246 Green Bay LLC
Warranty Deed
$8,475,000 · Jll Real Estate Capital LLC
Apr 4, 2019
—
246 Green Bay LLC
—
Grant Deed
related
$6,260,528 · Hinsdale Bk&tr
Sep 24, 2018
$815,000
246 Green Bay LLC
Bkb Real Estate LLC
Warranty Deed
—
Sep 23, 2014
$725,000
Bkb Real Estate LLC
Chicago Title Land Trust Company
Deed
$1,912,500 · Standard Bank & Trust Co
—
—
Trust 3331
—
Deed Of Trust
related
—
—
—
Trust 3331
—
Deed Of Trust
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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