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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Bars & Pubs
324 Grn Bay Rd, Highwood, IL 60040-1305
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US28-2479842
Property profile
Verified
Property type
Bars & Pubs
Use group
BAR, TAVERN
Year built
1945
Construction
BRICK
Total area
3,768 SF
Lot
0.26 ac (11,360 SF)
APN
16-15-405-031
UPID
US28-2479842
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
-
ATM Atm
-
Santi's Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$530k
Blend (final)
Blend
$530k
Owner & transaction history
Kelceys Pub INC · 15 yrs held
Kelceys Pub INC
since 2010
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$685,000
+6.4%
Auto repair, garage
$660,000
+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 Highwood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Highwood 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
$645,000
Current use
COMMERCIAL (GENERAL)
$685,000
Change: +6% · Conversion: Easy
AUTO REPAIR, GARAGE
$660,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$530k
Range $477k – $583k · ±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
$141 / 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
Assessed value
$250,718
Assessed 2023
Previous assessed
$255,268
-1.8% YoY
Assessed land
$103,279
Assessed improvement
$147,439
Land market value
$309,868
Improvement market value
$442,362
Total market value
$752,230
Applied tax rate
18,045.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Bars & Pubs
Use group
BAR, TAVERN
Status
Off-Market
Year built
1945
Construction
BRICK
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
2
Bathrooms
3
Total area
3,768 SF
Lot
0.26 ac (11,360 SF)
APN
16-15-405-031
UPID
US28-2479842
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
$645,000
COMMERCIAL (GENERAL)
Est. value
$685,000
AUTO REPAIR, GARAGE
Est. value
$660,000
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
1945
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
2
Bathrooms
3
Lot
0.26 ac
Current owner
From public records · entity-resolved
Kelceys Pub INC
Entity
Mailing address
244 ASHLAND AVE, HIGHWOOD, IL 60040-1102
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 10, 2010
$640,000
Kelceys Pub INC
Loretta J Lens
Deed
$220,000 · First Bank Of Highland Park
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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