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Property profile & analytics
FOR LEASE
Retail space
2860 S Highland Ave Lombard, IL 60148
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US28-3397637
For Lease
1 / 3
$11,800,000
2860 S Highland Ave, Lombard, IL 60148
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2001
Total area
138,559 SF
Lot
8.04 ac (350,222 SF)
Zoning code
C
APN
06-29-308-016
UPID
US28-3397637
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
$9.01M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.96M
Blend (final)
Blend
$11.80M
Owner & transaction history
Lombard Highland Associates LLC · 3 yrs held
Lombard Highland Associates LLC
since 2023
Last sale
$12.2M
3 recorded transactions
Zoning & alternative use
C · Lombard, IL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$19.6M
+1.1%
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 Lombard submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lombard 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
$10,840,000
ML approach
$9,005,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$19,400,000
Current use
OFFICE BUILDING
$19,615,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$11.80M
Range $10.62M – $12.98M · ±10% · vs last sale $12.20M (Feb 10 2023)
Last sale anchor
$12.20M
Feb 10 2023
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
$85 / 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
$200,113
Tax year 2023
Assessed value
$2,488,500
Assessed 2023
Previous assessed
$2,368,190
+5.1% YoY
Effective rate
8.04%
On assessed value
Assessed land
$1,572,180
Assessed improvement
$916,320
Land market value
$4,716,540
Improvement market value
$2,748,960
Total market value
$7,465,500
Applied tax rate
6,011.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
2001
Heating
NONE
Total area
138,559 SF
Lot
8.04 ac (350,222 SF)
Zoning code
C
APN
06-29-308-016
UPID
US28-3397637
Jurisdiction
DU PAGE
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
C · Lombard, IL
Zoning C · permitted uses
C · Lombard, IL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lombard. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$19.4M
OFFICE BUILDING
Est. value
$19.6M
RETAIL STORES Current
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
2001
Heating
NONE
Lot
8.04 ac
Current owner
From public records · entity-resolved
Lombard Highland Associates LLC
Entity
Mailing address
4500 BISSONNET ST STE #200, BELLAIRE, TX 77401-3113
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 10, 2023
$12,200,000
Lombard Highland Associates LLC
Seritage Src Finance LLC
Special Warranty Deed
$8,000,000 · Symetra Life Insurance Co
Nov 27, 2019
—
Seritage Src Finance LLC
—
Grant Deed
related
$2,000,000,000 · Berkshire Hathaway Life Ins Co
Jul 20, 2015
—
Seritage Src Finance LLC
Sears Roebuck & Co
Grant Deed
—
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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