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Property profile & analytics
OFF-MARKET
Estimated value
$8,985,000
Retail space
3124 Lewis Ave Waukegan, IL 60087-2231
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US28-0996094
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1997
Construction
BRICK
Total area
70,268 SF
Lot
8.66 ac (377,230 SF)
APN
08-05-110-038
UPID
US28-0996094
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
-
Jewel1424 Electronics Vending Machine
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Jewel-Osco Pharmacy Pharmacy
-
Jeff Harmon, RPh Pharmacy
-
higi Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$11.06M
Comparable Approach
Comparable
$9.69M
Blend (final)
Blend
$8.99M
Owner & transaction history
Safeway Realty LLC · 3 yrs held
Safeway Realty LLC
since 2022
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$12.3M
+55.3%
Restaurant
$11.7M
+48.1%
Commercial (general)
$8.8M
+11.1%
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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$11,975,000
6.5%
$11,055,000
7%
$10,265,000
Alternative Use
Use
Estimation
RETAIL STORES
$7,910,000
Current use
AUTO REPAIR, GARAGE
$12,280,000
Change: +55% · Conversion: Difficult
RESTAURANT
$11,710,000
Change: +48% · Conversion: Easy
COMMERCIAL (GENERAL)
$8,780,000
Change: +11% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$7,865,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$8.99M
Range $8.09M – $9.88M · ±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
$128 / 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
$197,821
Tax year 2023
Assessed value
$2,054,691
Assessed 2023
Previous assessed
$2,023,531
+1.5% YoY
Effective rate
9.63%
On assessed value
Assessed land
$654,365
Assessed improvement
$1,400,326
Land market value
$1,963,291
Improvement market value
$4,201,398
Total market value
$6,164,689
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1997
Construction
BRICK
Heating
NONE
Total area
70,268 SF
Lot
8.66 ac (377,230 SF)
APN
08-05-110-038
UPID
US28-0996094
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
RETAIL STORES Current
Est. value
$7.9M
AUTO REPAIR, GARAGE
Est. value
$12.3M
RESTAURANT
Est. value
$11.7M
COMMERCIAL (GENERAL)
Est. value
$8.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.9M
RETAIL STORES Current
AUTO REPAIR, GARAGE
RESTAURANT
COMMERCIAL (GENERAL)
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
1997
Construction
BRICK
Heating
NONE
Lot
8.66 ac
Current owner
From public records · entity-resolved
Safeway Realty LLC
Entity
Mailing address
250 E PARKCENTER BLVD, BOISE, ID 83706-3940
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 2, 2022
—
Safeway Realty LLC
Aci Real Estate Spe 111 LLC
Special Warranty Deed
—
Jun 11, 2020
—
Aci Real Estate Spe 111 LLC
Asp Realty LLC
Grant Deed
—
Dec 8, 2016
—
Asp Realty LLC
—
Deed
related
$130,500,000 · Credit Suisse Ag Cayman Islands Branch
Mar 21, 2013
—
Asp Realty INC
—
Grant Deed
related
$1,000,000,000 · Self-insurers' Security Fund
Jun 22, 2006
—
Asp Realty INC
American Stores Properties LLC
Warranty Deed
—
—
—
Asp Realty LLC
—
Deed Of Trust
related
—
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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