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Property profile & analytics
OFF-MARKET
Estimated value
$910,000
Turn key restaurants
305 Waukegan Rd Lake Bluff, IL 60044-1695
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US28-2124963
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1992
Construction
FRAME
Total area
8,036 SF
Lot
0.44 ac (19,166 SF)
APN
12-19-119-001
UPID
US28-2124963
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$923k
Blend (final)
Blend
$910k
Owner & transaction history
Reeb LLC · 12 yrs held
Reeb LLC
since 2014
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.5M
+6.4%
Auto repair, garage
$1.4M
+2.5%
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 Lake Bluff submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Bluff 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,370,000
Current use
COMMERCIAL (GENERAL)
$1,460,000
Change: +6% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,405,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$910k
Range $819k – $1.00M · ±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
$113 / 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
$29,732
Tax year 2023
Assessed value
$436,889
Assessed 2023
Previous assessed
$420,297
+3.9% YoY
Effective rate
6.81%
On assessed value
Assessed land
$99,056
Assessed improvement
$337,833
Land market value
$297,198
Improvement market value
$1,013,600
Total market value
$1,310,798
Applied tax rate
10,011.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1992
Construction
FRAME
Heating
NONE
Total area
8,036 SF
Lot
0.44 ac (19,166 SF)
APN
12-19-119-001
UPID
US28-2124963
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
RESTAURANT Current
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.4M
RESTAURANT Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1992
Construction
FRAME
Heating
NONE
Lot
0.44 ac
Current owner
From public records · entity-resolved
Reeb LLC
Entity
Mailing address
2215 YORK RD STE #503, OAK BROOK, IL 60523-4016
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 28, 2014
—
Reeb LLC
Iptv-b-mc3-r5 LLC
Grant Deed
—
Dec 16, 2011
—
Iptv-b Mc3-r5 LLC
Sheriff Of Lake County
Trustees Deed
related
—
Mar 27, 2003
$800,000
B T K III LLC
Cole Taylor Bank Trustee
Grant Deed
$2,160,000 · Plaza Bank NA
—
—
Iptv-b-mc3-r5 LLC
—
Deed Of Trust
related
$13,582,250 · A10 Capital LLC
—
—
Btk III LLC
—
Deed Of Trust
related
$310,000 · D&l I LLC
—
—
Btk III LLC
—
Deed Of Trust
related
$70,000 · One J Funding
—
—
Chicago Bread LLC
—
Deed Of Trust
related
$43,000,000 · Bank Of America
—
—
Gockys INC
—
Deed Of Trust
related
$23,000 · Harris Bank Libertyville
—
—
B T K III LLC
—
Deed Of Trust
related
$226,000 · Route 176 LLC
—
—
Btk III LLC
—
Deed Of Trust
related
$2,400,000 · Column Financial INC
—
—
Btk III LLC
—
Deed Of Trust
related
$200,000 · D&l I LLC
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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