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Property profile & analytics
OFF-MARKET
Estimated value
$2,590,000
Warehouses
253 Commerce Dr, Grayslake, IL 60030-7823
Entity Owned
~
Est. High Equity
Property ID
US28-0802124
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1996
Construction
BRICK
Total area
31,674 SF
Lot
0.84 ac (36,638 SF)
APN
06-36-104-001
UPID
US28-0802124
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
$2.42M
CAP Approach
CAP
$2.55M
Comparable Approach
Comparable
$3.34M
Blend (final)
Blend
$2.59M
Owner & transaction history
Timeless Classic Properties LLC
Timeless Classic Properties LLC
since 2025
Last sale
$2.8M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.8M
+42.1%
Apartment house (5+ units)
$3.7M
+39.4%
Commercial (general)
$3.3M
+23.4%
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 Grayslake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grayslake 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
$2,490,000
ML approach
$2,415,000
CAP Approach
CAP Return
Estimation
6%
$2,760,000
6.5%
$2,545,000
7%
$2,365,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,665,000
Current use
RETAIL STORES
$3,790,000
Change: +42% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$3,720,000
Change: +39% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,290,000
Change: +23% · Conversion: Difficult
OFFICE BUILDING
$3,060,000
Change: +15% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,500,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$2.59M
Range $2.33M – $2.85M · ±10% · vs last sale $2.75M (Jun 3 2025)
Last sale anchor
$2.75M
Jun 3 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
$82 / 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
$85,909
Tax year 2023
Assessed value
$861,277
Assessed 2023
Previous assessed
$762,418
+13.0% YoY
Effective rate
9.97%
On assessed value
Assessed land
$138,849
Assessed improvement
$722,428
Land market value
$416,589
Improvement market value
$2,167,501
Total market value
$2,584,090
Applied tax rate
7,060.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1996
Construction
BRICK
Heating
NONE
Total area
31,674 SF
Lot
0.84 ac (36,638 SF)
APN
06-36-104-001
UPID
US28-0802124
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
WAREHOUSE, STORAGE Current
Est. value
$2.7M
RETAIL STORES
Est. value
$3.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.7M
COMMERCIAL (GENERAL)
Est. value
$3.3M
OFFICE BUILDING
Est. value
$3.1M
INDUSTRIAL (GENERAL)
Est. value
$2.5M
WAREHOUSE, STORAGE Current
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1996
Construction
BRICK
Heating
NONE
Lot
0.84 ac
Current owner
From public records · entity-resolved
Timeless Classic Properties LLC
Entity
Mailing address
253 COMMERCE DR, GRAYSLAKE, IL 60030-7823
Mailing matches property
Yes
Owner-occupied
Yes
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 3, 2025
$2,750,000
Timeless Classic Properties LLC
Great Lakes Wellness Company LLC
Warranty Deed
$4,250,000 · Byline Bank
Sep 14, 2020
$1,900,000
Great Lakes Gelatin Co
Two Fifty Three Cmrc Drive LLC
Grant Deed
—
Jul 6, 2016
—
Two Fifty Three Commerce Drive
—
Deed Of Trust
related
$1,950,000 · State Bk/lakes
Jun 9, 2015
—
Two Fifty Three Commerce Drive
Trust 2002-117
Grant Deed
—
Feb 9, 2007
—
Trust 2002-117
—
Trustees Deed
related
$56,795 · State Bank Of The Lakes
Feb 27, 2003
—
State Bank Of The Lakes Ttee
Lasalle Bank NA Trustee
Grant Deed
related
—
—
—
Lasalle Bank NA Ttee
—
Deed Of Trust
related
$362,057 · State Bank Of The Lakes
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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