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Property profile & analytics
OFF-MARKET
Office Spaces
248 Howard Ave Des Plaines, IL 60018-1906
Entity Owned
Free & Clear
Property ID
US28-1310751
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1983
Lot
2.12 ac (92,347 SF)
APN
09-30-101-036-1009
UPID
US28-1310751
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
-
A L Fase Custom Broker Customs Broker
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Grama Development LLC
Grama Development LLC
since 2026
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 Des Plaines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Des Plaines 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2022Property tax & assessments
Tax year 2022
Tax billed
$5,068
Tax year 2022
Assessed value
$19,697
Assessed 2022
Previous assessed
$20,000
-1.5% YoY
Effective rate
25.73%
On assessed value
Assessed land
$7,510
Assessed improvement
$12,187
Land market value
$30,040
Improvement market value
$48,748
Total market value
$78,788
Applied tax rate
22,028.0000
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1983
Heating
NONE
Lot
2.12 ac (92,347 SF)
APN
09-30-101-036-1009
UPID
US28-1310751
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL 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
1983
Heating
NONE
Lot
2.12 ac
Current owner
From public records · entity-resolved
Grama Development LLC
Entity
Free & Clear · 0 yrs held
Mailing address
280 HOWARD AVE, DES PLAINES, IL 60018-1906
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
22 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 4, 2026
$530,000
Grama Development LLC
Omega Realty Group LLC
Warranty Deed
—
Apr 2, 2025
$220,000
Wire Cargo Properties LLC
Grmec Properties LLC
Warranty Deed
$162,000 · Covantage Cu
Feb 3, 2025
—
Hpg Cleanrooms LLC
Hughes Powers Garay Company
Warranty Deed
—
Dec 14, 2023
$180,000
Grmec Properties LLC
Mm Kk Realty LLC
Warranty Deed
—
Dec 22, 2021
$56,500
276 Howard LLC
Suite 272 Properties INC
Warranty Deed
$45,200 · The Huntington National Bank
Dec 22, 2021
—
276 Howard LLC
—
Deed
related
$45,200 · The Huntington National Bank
Jul 13, 2021
—
Arf Enterprises LLC
—
Deed
related
$350,000 · Hinsdale Bank & Trust Co
Nov 19, 2020
$160,000
Grmec Properties LLC
Deluxe Wine & Spirits Co
Warranty Deed
—
Nov 19, 2020
$86,000
Deluxe Wine & Spirits Co
Unbel LLC
Grant Deed
—
Nov 26, 2019
—
Omega Realty Group LLC
—
Deed
related
$290,000 · Jpmorgan Chase Bank NA
Jun 10, 2019
$202,000
Chemuniverse INC
De Keyser Jean O Trust
Grant Deed
—
Mar 25, 2019
$980,000
Omega Realty Group LLC
Stock,brian
Warranty Deed
—
Apr 9, 2018
—
Jean O De Keyser
—
Deed
related
$100,000 · First Bank & Trust
Mar 26, 2018
—
De Keyser,jean O Trust
—
Deed
related
$50,000 · First Bk/chicago
Aug 28, 2017
$135,000
Howard Street Holdings LLC
Huntington Natl Bk
Warranty Deed
related
$108,000 · Huntington Nat'l Bk
Apr 6, 2017
$90,000
Suite 272 Properties INC
Huntington Natl Bk
Grant Deed
—
Mar 24, 2017
$45,000
Darryl Cunningham
Huntington Natl Bk
Grant Deed
—
Jul 22, 2016
$99,000
Brian M Stock
Howard Street Properties INC
Warranty Deed
$140,000 · Bank Of America NA
Jul 22, 2016
—
Brian M Stock
—
Deed
related
$140,000 · Bank Of America
Jun 15, 2016
$75,000
Brian Stock
Firstmerit Bk NA
Grant Deed
—
May 16, 2016
$86,000
Mm Kk Realty LLC
Unbel LLC
Special Warranty Deed
$137,600 · Union National Bank
Jan 17, 2013
—
Firstmerit Bk NA
Mercury Group Viii LLC
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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