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Property profile & analytics
OFF-MARKET
Estimated value
$3,430,000
Commercial real estate
256 Grn Bay Rd, Highwood, IL 60040-1720
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US28-0343584
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1925
Construction
BRICK
Total area
22,170 SF
Lot
0.45 ac (19,515 SF)
APN
16-15-413-009
UPID
US28-0343584
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
-
Alex's Washington Gardens Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.59M
CAP Approach
CAP
$3.53M
Comparable Approach
Comparable
$2.38M
Blend (final)
Blend
$3.43M
Owner & transaction history
Im Highwood LLC · 4 yrs held
Im Highwood LLC
since 2021
Last sale
$3.2M
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 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
$3,645,000
ML approach
$3,585,000
CAP Approach
CAP Return
Estimation
6%
$3,825,000
6.5%
$3,530,000
7%
$3,280,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,025,000
Current use
AUTO REPAIR, GARAGE
$3,875,000
Change: -4% · Conversion: Difficult
RESTAURANT
$3,780,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$3.43M
Range $3.09M – $3.77M · ±10% · vs last sale $3.20M (Oct 20 2021)
Last sale anchor
$3.20M
Oct 20 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
$155 / 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
$42,171
Tax year 2023
Assessed value
$840,435
Assessed 2023
Previous assessed
$484,807
+73.4% YoY
Effective rate
5.02%
On assessed value
Assessed land
$189,481
Assessed improvement
$650,954
Land market value
$568,500
Improvement market value
$1,953,057
Total market value
$2,521,557
Applied tax rate
18,045.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1925
Construction
BRICK
Heating
NONE
Total area
22,170 SF
Lot
0.45 ac (19,515 SF)
APN
16-15-413-009
UPID
US28-0343584
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) Current
Est. value
$4.0M
AUTO REPAIR, GARAGE
Est. value
$3.9M
RESTAURANT
Est. value
$3.8M
COMMERCIAL (GENERAL) Current
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
1925
Construction
BRICK
Heating
NONE
Lot
0.45 ac
Current owner
From public records · entity-resolved
Im Highwood LLC
Entity
Mailing address
1460 TECHNY RD #600, NORTHBROOK, IL 60062-5447
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 20, 2021
$3,200,000
Im Highwood LLC
Nare Highwood LLC
Special Warranty Deed
$2,400,000 · Inland Bank & Trust
Feb 11, 2020
—
Nare Highwood LLC
Nare Investments LLC
Quit Claim Deed
—
Nov 26, 2019
$1,338,750
Nare Investments LLC
Fargo Bk NA 2006-c4 Wells
Grant Deed
—
Sep 11, 2017
—
Wells Fargo Bank NA 2006-c4 Tr
Sheriff Of Lake County|trust 1110009
Trustees Deed
related
—
Dec 12, 2001
$480,000
Chicago Title Land Tr Co Ttee
Terracina Trust
Grant Deed
—
—
—
Marisa L Terracina
—
Deed Of Trust
related
$76,350 · First Bank Highland Park
—
—
Trust 1110009
—
Deed Of Trust
related
$2,170,000 · Column Financial INC
—
—
Chciago Land Title Tr Co Ttee
—
Deed Of Trust
related
$998,000 · Lake Forest Bank & Trust Co
—
—
Chicago Title Land Trt Co Ttee
—
Deed Of Trust
related
$360,000 · Lake Forest Bank & Trust Co
—
—
Marisa L Terrachins
—
Deed Of Trust
related
$73,975 · First Bank Highland Park
—
—
Chicago Title Land Trt Co Ttee
—
Deed Of Trust
related
$1,550,000 · Lake Forest Bank & Trust Co
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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