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Property profile & analytics
OFF-MARKET
Estimated value
$740,000
Office buildings
352 Ctr St Grayslake, IL 60030-1641
Individually Owned
26-yr Hold
~
Est. High Equity
Property ID
US28-2315858
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1973
Construction
BRICK
Total area
5,632 SF
Lot
0.64 ac (28,083 SF)
APN
06-26-308-013
UPID
US28-2315858
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
$607k
Blend (final)
Blend
$740k
Owner & transaction history
Jerold Novak · 26 yrs held
Jerold Novak
since 2000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$985,000
+81.0%
Retail stores
$675,000
+23.9%
Apartment house (5+ units)
$660,000
+21.6%
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 Grayslake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grayslake 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
OFFICE BUILDING
$545,000
Current use
AUTO REPAIR, GARAGE
$985,000
Change: +81% · Conversion: Difficult
RETAIL STORES
$675,000
Change: +24% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$660,000
Change: +22% · Conversion: Easy
COMMERCIAL (GENERAL)
$585,000
Change: +8% · Conversion: Easy
WAREHOUSE, STORAGE
$475,000
Change: -13% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$445,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$740k
Range $666k – $814k · ±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
$131 / 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
$21,349
Tax year 2023
Assessed value
$186,422
Assessed 2023
Previous assessed
$178,074
+4.7% YoY
Effective rate
11.45%
On assessed value
Assessed land
$72,669
Assessed improvement
$113,753
Land market value
$218,029
Improvement market value
$341,293
Total market value
$559,322
Applied tax rate
7,013.0000
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
1973
Construction
BRICK
Heating
NONE
Total area
5,632 SF
Lot
0.64 ac (28,083 SF)
APN
06-26-308-013
UPID
US28-2315858
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
$545,000
AUTO REPAIR, GARAGE
Est. value
$985,000
RETAIL STORES
Est. value
$675,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$660,000
COMMERCIAL (GENERAL)
Est. value
$585,000
WAREHOUSE, STORAGE
Est. value
$475,000
INDUSTRIAL (GENERAL)
Est. value
$445,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
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
1973
Construction
BRICK
Heating
NONE
Lot
0.64 ac
Current owner
From public records · entity-resolved
Jerold Novak
Individual
Mailing address
352 CTR ST, GRAYSLAKE, IL 60030-1641
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2000
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 10, 2005
—
Jerald Novak
—
Trustees Deed
related
$430,000 · Bank Financial Fsb
May 24, 2000
$295,000
Jerold Novak
Murrie Trust
Grant Deed
$221,250 · Success National 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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