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Property profile & analytics
OFF-MARKET
Estimated value
$650,000
Banks
2634 Grand Ave, Waukegan, IL 60085-2411
Trust Owned
7-yr Hold
Free & Clear
Property ID
US28-5713415
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2020
Construction
BRICK
Total area
9,106 SF
Lot
0.93 ac (40,402 SF)
APN
08-18-417-022
UPID
US28-5713415
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
-
Waukegan Community Bank Bank Loan Service
-
Oral Mxllfcial Surgeon Lk County Dental Office
-
Dr. Richard B. Kirchhoff, DDS Dental Office
-
Spine & Nerve Testing Center LLC Physician
-
Massey's Insurance Services Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$475k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$825k
Blend (final)
Blend
$650k
Owner & transaction history
Lake Forest Bk & Trust · 7 yrs held
Lake Forest Bk & Trust
since 2019
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.0M
+47.3%
Auto repair, garage
$830,000
+17.8%
Warehouse, storage
$790,000
+12.1%
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 Waukegan submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waukegan 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
by Request
ML approach
$475,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$705,000
Current use
RESTAURANT
$1,035,000
Change: +47% · Conversion: Difficult
AUTO REPAIR, GARAGE
$830,000
Change: +18% · Conversion: Difficult
WAREHOUSE, STORAGE
$790,000
Change: +12% · Conversion: Difficult
MEDICAL BUILDING
$775,000
Change: +11% · Conversion: Difficult
COMMERCIAL (GENERAL)
$750,000
Change: +7% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$745,000
Change: +6% · Conversion: Difficult
OFFICE BUILDING
$650,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$650k
Range $585k – $715k · ±10%
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
$71 / 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
$64,066
Tax year 2023
Assessed value
$599,940
Assessed 2023
Previous assessed
$655,338
-8.5% YoY
Effective rate
10.68%
On assessed value
Assessed land
$93,496
Assessed improvement
$506,444
Land market value
$280,516
Improvement market value
$1,519,484
Total market value
$1,800,000
Applied tax rate
9,012.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
2020
Construction
BRICK
Heating
NONE
Total area
9,106 SF
Lot
0.93 ac (40,402 SF)
APN
08-18-417-022
UPID
US28-5713415
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
FINANCIAL BUILDING Current
Est. value
$705,000
RESTAURANT
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$830,000
WAREHOUSE, STORAGE
Est. value
$790,000
MEDICAL BUILDING
Est. value
$775,000
COMMERCIAL (GENERAL)
Est. value
$750,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$745,000
OFFICE BUILDING
Est. value
$650,000
FINANCIAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
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
BRICK
Heating
NONE
Lot
0.93 ac
Current owner
From public records · entity-resolved
Lake Forest Bk & Trust
Trust
Free & Clear · 7 yrs held
Mailing address
727 N BANK LN FL #1, LAKE FOREST, IL 60045-1887
Ownership since
2019
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
Jun 7, 2019
$620,000
Lake Forest Bk & Trust
2634 Grand LLC
Grant Deed
—
Feb 3, 2017
$250,000
2634 Grand LLC
Vfc Properties 18 LLC
Grant Deed
—
Aug 8, 2012
—
Vfc Properties 18 LLC
2634 W Grand LLC
Deed In Lieu Of Foreclosure
—
May 19, 2004
$1,400,000
2634 W Grand LLC
Lasalle Bank NA Trustee
Grant Deed
$1,120,000 · Charter One Bank
—
—
Vfc Properties 18 LLC
—
Deed Of Trust
related
$612,420 · Vfc Partners 18 LLC
—
—
Lasalle National Bank
—
Deed Of Trust
related
$600,000 · Harris Bank Palatine NA
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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