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Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Office buildings
3065 Falling Waters Blvd, Lindenhurst, IL 60046-6793
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US28-0851031
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1999
Construction
BRICK
Total area
6,832 SF
Lot
0.38 ac (16,553 SF)
APN
06-01-405-016
UPID
US28-0851031
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
$650k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$599k
Blend (final)
Blend
$615k
Owner & transaction history
Mjk Real Estate LLC · 3 yrs held
Mjk Real Estate LLC
since 2022
Last sale
$600,000
7 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 Lindenhurst submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lindenhurst 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
$640,000
ML approach
$650,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$890,000
Current use
RETAIL STORES
$820,000
Change: -8% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$800,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$615k
Range $554k – $677k · ±10% · vs last sale $600k (Dec 1 2022)
Last sale anchor
$600k
Dec 1 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
$90 / 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
$10,989
Tax year 2023
Assessed value
$178,086
Assessed 2023
Previous assessed
$77,866
+128.7% YoY
Effective rate
6.17%
On assessed value
Assessed land
$24,762
Assessed improvement
$153,324
Land market value
$74,293
Improvement market value
$460,018
Total market value
$534,311
Applied tax rate
5,150.0000
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
1999
Construction
BRICK
Heating
NONE
Total area
6,832 SF
Lot
0.38 ac (16,553 SF)
APN
06-01-405-016
UPID
US28-0851031
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
$890,000
RETAIL STORES
Est. value
$820,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$800,000
OFFICE BUILDING Current
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1999
Construction
BRICK
Heating
NONE
Lot
0.38 ac
Current owner
From public records · entity-resolved
Mjk Real Estate LLC
Entity
Mailing address
8400 CALLIE AVE, MORTON GROVE, IL 60053-2898
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
Dec 1, 2022
$600,000
Mjk Real Estate LLC
Rp Dental Consortium LLC
Special Warranty Deed
$510,000 · The Huntington National Bank
Dec 30, 2019
$445,000
Rp Dental Consortium LLC
Gess Properties LLC
Warranty Deed
$337,500 · Tri City National Bank
Dec 3, 2012
—
Gess Properties LLC
—
Trustees Deed
related
$580,000 · Consumers Cooperative Cu
Jul 6, 2012
—
Pb & J Xvii LLC
Parkway Bank & Trust Co
Quit Claim Deed
related
—
Jul 6, 2012
$475,000
Gess Properties LLC
Pb & J Xvii LLC
Grant Deed
$380,000 · Consumers Cooperative Cu
Nov 17, 2005
—
Trust 3065
Megerle,richard
Grant Deed
related
—
Aug 27, 2004
—
Richard O Megerle
Red Apple Academy INC
Warranty Deed
$775,000 · Parkway Bank & Trust Co
Jun 29, 2004
—
Red Apple Academy INC
Megerle,richard
Quit Claim Deed
related
$775,000 · Parkway Bank & Trust Co
—
—
Gess Properties LLC
—
Deed Of Trust
related
$575,257 · Consumers Cooperative Cu
—
—
Michelle C Troyk
—
Deed Of Trust
related
$12,800 · Harris Trust & Savings 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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