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Property profile & analytics
OFF-MARKET
Motels
303 Algonquin Rd Mount Prospect, IL 60056-5704
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US28-1083414
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1966
Lot
1.1 ac (47,916 SF)
APN
08-23-401-019
UPID
US28-1083414
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
-
AAA Tower Inn & Suites Hotel & Motel
-
Car Key Replacement Mount Prospect Auto Repair Shop
-
Car Key Replacement Berwyn Locksmith
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Tower 303 LLC · 12 yrs held
Tower 303 LLC
since 2013
6 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 Mount Prospect submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mount Prospect 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2022Property tax & assessments
Tax year 2022
Tax billed
$44,613
Tax year 2022
Assessed value
$178,323
Assessed 2022
Previous assessed
$139,912
+27.5% YoY
Effective rate
25.02%
On assessed value
Assessed land
$132,000
Assessed improvement
$46,323
Land market value
$528,000
Improvement market value
$185,292
Total market value
$713,292
Applied tax rate
16,048.0000
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1966
Heating
NONE
Lot
1.1 ac (47,916 SF)
APN
08-23-401-019
UPID
US28-1083414
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL 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
Building & site characteristics
From public records
Year built
1966
Heating
NONE
Lot
1.1 ac
Current owner
From public records · entity-resolved
Tower 303 LLC
Entity
Mailing address
303 W ALGONQUIN RD, MT PROSPECT, IL 60056-5704
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2013
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
Dec 10, 2013
$640,000
Tower 303 LLC
Patel,jesal B & Ashok
Warranty Deed
$317,500 · Grand Ridge National Bank
Feb 5, 2008
—
Jesal B Patel
—
Trustees Deed
related
$1,880,000 · Broadway Bank
Oct 21, 2003
—
Jesal Babu Patel
Patel,jiesal Babu
Quit Claim Deed
related
—
Oct 22, 1999
$650,000
Jesal B Patel
Bork,bernice K & Marilyn B
Grant Deed
$900,000 · Broadway Bank
—
—
Tower 303 LLC
—
Deed Of Trust
related
$233,000 · Illinois Business Fin'l Svcs
—
—
Universal Finance & Inv Corp
—
Deed Of Trust
related
$50,268 · Broadway Bank
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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