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Property profile & analytics
OFF-MARKET
Estimated value
$600,000
Strip malls
3305 45th St 3315 Highland, IN 46322-3211
Entity Owned
9-yr Hold
Free & Clear
Property ID
US31-1180286
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1962
Construction
TYPE NOT SPECIFIED
Total area
28,080 SF
Lot
2.41 ac (105,110 SF)
APN
45-07-27-358-018.000-026
UPID
US31-1180286
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
$600k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$602k
Blend (final)
Blend
$600k
Owner & transaction history
Highland Square LLC · 9 yrs held
Highland Square LLC
since 2017
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$940,000
+21.8%
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 Highland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Highland 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
$600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$770,000
Current use
WAREHOUSE, STORAGE
$940,000
Change: +22% · Conversion: Difficult
Blend value · Realmo final
$600k
Range $540k – $660k · ±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
$21 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$18,980
Tax year 2022
Assessed value
$786,400
Assessed 2023
Previous assessed
$603,400
+30.3% YoY
Effective rate
2.41%
On assessed value
Assessed land
$306,400
Assessed improvement
$480,000
Land market value
$306,400
Improvement market value
$480,000
Total market value
$786,400
Applied tax rate
26.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1962
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Units
7
Total area
28,080 SF
Lot
2.41 ac (105,110 SF)
APN
45-07-27-358-018.000-026
UPID
US31-1180286
Jurisdiction
LAKE
Metro division
GARY, IN 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$770,000
WAREHOUSE, STORAGE
Est. value
$940,000
NEIGHBORHOOD: SHOPPING CENTER Current
WAREHOUSE, STORAGE
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
1962
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Units
7
Lot
2.41 ac
Current owner
From public records · entity-resolved
Highland Square LLC
Entity
Free & Clear · 9 yrs held
Mailing address
15900 WOLF RD STE #204, ORLAND PARK, IL 60467-5542
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 28, 2017
—
Highland Square LLC
Phoenix Reo LLC
Grant Deed
—
May 18, 2017
—
Phoenix Reo LLC
Sheriff Of Lake County|mmj Properties LLC
Trustees Deed
related
—
Oct 26, 2016
—
Phoenix Reo LLC
Sheriff Of Lake County|mmj Properties LLC
Trustees Deed
related
—
Sep 2, 2008
—
Sesf INC
—
Trustees Deed
related
$3,280,000 · National Republic Bank Chicago
Dec 12, 2006
—
Sesf INC
—
Trustees Deed
related
$200,000 · National Republic Bank Chicago
—
—
Sesf INC
—
Deed Of Trust
related
$375,000 · National Republic Bank Chicago
—
—
Sesf INC
—
Deed Of Trust
related
$2,050,000 · Ravenswood 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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