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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    24989 Il Rte 120 Grayslake, IL 60030

    • Warehouses
    • 3,710 SF
    • 3.53 lot acres
    OFF-MARKET
    Value Estimations
    $285,000
    Show details
    Cap Rate Potential
    6.6%
    Warehouses
    Location Intelligence
    Property ID
    US28-1379191
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 24989 Il Rte 120

    Year built
    1991
    Construction
    BRICK
    Lot size
    3.53 lot acres
    Property size
    3,710 SF
    Property type
    Warehouses
    APN
    06-31-300-003
    APU
    631300003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $295,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $325,000
      6.5%
      $300,000
      7%
      $275,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $250,000
      Market price range: $250k - $391k
      AI Estimate
      $213,000
      Market price range: $186k - $478k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $310,000
      Current use
      RETAIL STORES
      $445,000
      Change: +42% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $385,000
      Change: +23% Conversion: Difficult
      OFFICE BUILDING
      $360,000
      Change: +15% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Grayslake
    County
    Lake
    State
    Illinois
    Longitude
    -88.1202
    Latitude
    42.3316
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,382
    $6,506
    $44,405
    $50,911
    -
    $19,520
    $133,228
    $152,748

    Comparable in this City

    • Value Estimation by Request
      1,850 SF

      1860 Illinois 83

      Flex space • 1,850 SF
      1860 Illinois 83, Grayslake, IL 60030
      View Details
    • Value Estimation
      $740,000
      5,600 SF

      888 Belvidere Rd Ste, Unit 202

      WAREHOUSE, STORAGE • 5,600 SF
      888 Belvidere Rd Ste, Grayslake, IL 60030-2571
      View Details
    • Value Estimation
      $2,650,000
      31,674 SF

      253 Commerce Dr

      WAREHOUSE, STORAGE • 31,674 SF
      253 Commerce Dr, Grayslake, IL 60030-7823
      View Details
    • Value Estimation
      $220,000
      1,925 SF

      888 Belvidere Rd Ste, Unit 314

      WAREHOUSE, STORAGE • 1,925 SF
      888 Belvidere Rd Ste, Grayslake, IL 60030-2576
      View Details
    • Value Estimation
      $715,000
      80,444 SF

      150 Pne St

      WAREHOUSE, STORAGE • 80,444 SF
      150 Pne St, Grayslake, IL 60030-1436
      View Details
    • Value Estimation
      $460,000
      16,616 SF

      355 Il Rte 83

      WAREHOUSE, STORAGE • 16,616 SF
      355 Il Rte 83, Grayslake, IL 60030-1669
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      36.70 Acres

      Grayslake Commercial Land Development

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      View Details
    • $1,995,000
      34,218 SF

      Grayslake Industrial Space - Huge Potential

      Massive Office/Warehouse, 34,218 SF, 1.27 Acres
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    • $950,000
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      Renovated Storefront Building with Parking

      Fully rented two-unit building on busy state highway.
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    • Contact for pricing
      3.00 Acres

      Prime Commercial Land, Third Lake, IL

      Three-acre commercial lot, ideal development.
      18790 Gages Lake Rd, Grayslake, IL 60030
      View Details
    • $1,399,000
      6,823 SF

      Grayslake Office Building - Prime Location

      Fully Leased, High-End Office Suites
      146 Center St, Grayslake, IL 60030
      View Details
    • Contact for pricing

      Grayslake Pad Ready Land

      30,500 square feet of general business zoned land.
      1886 E Belvidere Rd, Grayslake, IL 60030
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      Retail Space Available For Lease

      Retail space available for lease in Grayslake, Illinois.
      34111 N Barron Blvd, Grayslake, IL 60030
      View Details
    • Contact for pricing

      Grayslake Office Suites For Rent

      Office suites in Grayslake with shared amenities and utilities included.
      790 Barron Blvd, Grayslake, IL 60030
      View Details
    • Contact for pricing

      Grayslake Commercial Space For Rent

      Office suites and storefronts available in Grayslake, Illinois.
      100 S Atkinson Rd, Grayslake, IL 60030
      View Details
    • Contact for pricing

      Renovated Office Suite in Grayslake

      Newly renovated office suite with flexible workspace in Grayslake, IL.
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      View Details
    • $222 SF/Yr
      12,474 SF

      Grayslake Retail Space For Lease

      765 SF Retail Space, Downtown Grayslake
      136 Rear, Grayslake, IL 60030
      View Details
    • Contact for pricing
      6,000 SF

      Downtown Grayslake Retail Space

      6,000 SF Daycare Space, Ample Parking
      61 Center St, Grayslake, IL 60030
      View Details
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    24989 Il Rte 120
    Grayslake, IL 60030
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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