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Property profile & analytics
OFF-MARKET
Estimated value
$2,200,000
Office buildings
2835 Belvidere Rd, Waukegan, IL 60085-6046
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US28-0728421
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1971
Construction
FRAME
Total area
35,292 SF
Lot
0.48 ac (20,909 SF)
APN
08-30-219-011
UPID
US28-0728421
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
-
Diane's Hair Care and Braiding Hair Salon
-
Millan’s Barbershop Barber Shop
-
David M Siegel & Associates Law Firm Financial Advisor
-
Reboot Techz Computer & Electronic Repair
-
Boswell Charles DDS Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.36M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.36M
Blend (final)
Blend
$2.20M
Owner & transaction history
Sunshine Qozb LLC · 5 yrs held
Sunshine Qozb LLC
since 2021
Last sale
$2.1M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$3.6M
+64.3%
Industrial (general)
$2.7M
+24.1%
Commercial (general)
$2.2M
+1.3%
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
$2,335,000
ML approach
$2,360,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,200,000
Current use
WAREHOUSE, STORAGE
$3,615,000
Change: +64% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,730,000
Change: +24% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,230,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$2.20M
Range $1.98M – $2.42M · ±10% · vs last sale $2.05M (Apr 7 2021)
Last sale anchor
$2.05M
Apr 7 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
$62 / 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
$35,055
Tax year 2023
Assessed value
$385,869
Assessed 2023
Previous assessed
$358,579
+7.6% YoY
Effective rate
9.08%
On assessed value
Assessed land
$48,887
Assessed improvement
$336,982
Land market value
$146,676
Improvement market value
$1,011,047
Total market value
$1,157,723
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
1971
Construction
FRAME
Heating
NONE
Total area
35,292 SF
Lot
0.48 ac (20,909 SF)
APN
08-30-219-011
UPID
US28-0728421
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
$2.2M
WAREHOUSE, STORAGE
Est. value
$3.6M
INDUSTRIAL (GENERAL)
Est. value
$2.7M
COMMERCIAL (GENERAL)
Est. value
$2.2M
OFFICE BUILDING Current
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
1971
Construction
FRAME
Heating
NONE
Lot
0.48 ac
Current owner
From public records · entity-resolved
Sunshine Qozb LLC
Entity
Mailing address
2835 BELVIDERE RD STE #101, WAUKEGAN, IL 60085-6077
Mailing matches property
Yes
Owner-occupied
Yes
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 7, 2021
$2,050,000
Sunshine Qozb LLC
Hatco LLC
Special Warranty Deed
$1,435,000 · First Security Trust & Savings Bank
Jan 6, 2017
—
Hatco LLC
—
Deed
related
$1,100,000 · First Security Trust & Savings Bank
Dec 22, 2010
—
Hatco LLC
Coletta,donato
Quit Claim Deed
related
$1,200,000 · Lake Forest Bank & Trust Co
Sep 28, 2004
$830,000
Donato Coletta
Trust 3495
Grant Deed
—
—
—
Eric Harkna
—
Deed Of Trust
related
$1,000,000 · Fifth Third Bank Chicago
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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