New search
Property profile & analytics
OFF-MARKET
Estimated value
$5,450,000
Office buildings
2727 Grand Ave, Waukegan, IL 60085-2406
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US28-0338796
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1973
Construction
BRICK
Total area
80,678 SF
Lot
4.8 ac (209,088 SF)
APN
08-19-204-001
UPID
US28-0338796
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
-
Lewis Fresh Market Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.59M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.78M
Blend (final)
Blend
$5.45M
Owner & transaction history
2727 W Grand LLC · 4 yrs held
2727 W Grand LLC
since 2022
Last sale
$5.3M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$9.0M
+79.6%
Retail stores
$8.5M
+69.2%
Warehouse, storage
$8.3M
+64.3%
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
$5,570,000
ML approach
$5,585,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,030,000
Current use
APARTMENT HOUSE (5+ UNITS)
$9,030,000
Change: +80% · Conversion: Easy
RETAIL STORES
$8,510,000
Change: +69% · Conversion: Moderate
WAREHOUSE, STORAGE
$8,260,000
Change: +64% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$6,235,000
Change: +24% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,090,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$5.45M
Range $4.91M – $6.00M · ±10% · vs last sale $5.30M (Jan 11 2022)
Last sale anchor
$5.30M
Jan 11 2022
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
$68 / 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
$145,046
Tax year 2023
Assessed value
$1,557,870
Assessed 2023
Previous assessed
$1,483,686
+5.0% YoY
Effective rate
9.31%
On assessed value
Assessed land
$322,703
Assessed improvement
$1,235,167
Land market value
$968,206
Improvement market value
$3,705,872
Total market value
$4,674,078
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1973
Construction
BRICK
Heating
NONE
Total area
80,678 SF
Lot
4.8 ac (209,088 SF)
APN
08-19-204-001
UPID
US28-0338796
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
OFFICE BUILDING Current
Est. value
$5.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$9.0M
RETAIL STORES
Est. value
$8.5M
WAREHOUSE, STORAGE
Est. value
$8.3M
INDUSTRIAL (GENERAL)
Est. value
$6.2M
COMMERCIAL (GENERAL)
Est. value
$5.1M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
COMMERCIAL (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
1973
Construction
BRICK
Heating
NONE
Lot
4.8 ac
Current owner
From public records · entity-resolved
2727 W Grand LLC
Entity
Mailing address
2727 GRAND AVE, WAUKEGAN, IL 60085-2406
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 26, 2022
—
2727 W Grand LLC
—
Deed
related
$4,300,000 · Bank Of America NA
Jan 11, 2022
$5,300,000
2727 W Grand LLC
Grand Waukegan LLC
Special Warranty Deed
$300,000 · John Svigos
Apr 15, 2020
—
Grand Waukegan LLC
—
Deed
related
$2,278,361 · John Svigos
Mar 18, 2004
—
Grand Waukegan LLC
—
Trustees Deed
related
$2,200,000 · Bank One NA
Sep 18, 2002
$1,425,000
Grand Waukegan LLC
Lee,sang B & Sun
Grant Deed
$1,710,000 · Cambridge Bank
Oct 5, 2001
$1,000,000
Sang B Lee
122nd Street Land Co
Grant Deed
$1,625,000 · Anchor Bank NA
—
—
Grand-waukegan LLC
—
Loan Modification
related
$2,415,164 · Baytree National Bank & Trust
—
—
Grand Waukegan LLC
—
Deed Of Trust
related
$2,278,361 · John Svigos
—
—
Grand Waukegan LLC
—
Deed Of Trust
related
$500,000 · Svigos Asset Mgmt INC
—
—
Grand Waukegan LLC
—
Deed Of Trust
related
$1,800,000 · Poly Georgiopoulou
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2727 Grand Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
