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    3688 Grand Ave Gurnee, IL 60031-3738
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    Property profile & analytics

    3688 Grand Ave Gurnee, IL 60031-3738

    View on Map
    • Grocery and convenience stores
    • 3,814 SF
    • 0.82 lot acres
    Off-Market
    Property ID
    US28-1851947
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $870,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Speedway / Grocery & Convenience Store
    • BMO - ATM / Atm
    • ATM / Atm
    • LibertyX Bitcoin ATM / Atm

    Property Details for 3688 Grand Ave

    Year built
    2005
    Construction
    BRICK
    Lot size
    0.82 lot acres
    Property size
    3,814 SF
    Property type
    Grocery and convenience stores
    APN
    07-13-419-005
    APU
    713419005

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,170,000
      6.5%
      $1,080,000
      7%
      $1,005,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $551,000
      Market price range: $416k - $979k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $545,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Gurnee
    County
    Lake
    State
    Illinois
    Longitude
    -87.8915
    Latitude
    42.3711
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $13,343
    $131,661
    $137,403
    $269,064
    -
    $395,022
    $412,250
    $807,272

    Comparable in this City

    • Value Estimation
      $925,000
      1,886 SF

      226 Il Rte 21

      CONVENIENCE STORE • 1,886 SF
      226 Il Rte 21, Gurnee, IL 60031-3811
      View Details
    • Value Estimation
      $805,000
      4,112 SF

      18450 Grand Ave

      CONVENIENCE STORE • 4,112 SF
      18450 Grand Ave, Gurnee, IL 60031-1561
      View Details
    • Value Estimation
      $1,535,000
      5,587 SF

      350 Hunt Clb Rd

      CONVENIENCE STORE • 5,587 SF
      350 Hunt Clb Rd, Gurnee, IL 60031-2502
      View Details
    • Value Estimation
      $555,000
      2,400 SF

      1188 Skokie Hwy

      CONVENIENCE STORE • 2,400 SF
      1188 Skokie Hwy, Gurnee, IL 60031-2906
      View Details
    • Value Estimation
      $1,135,000
      4,608 SF

      5499 Grand Ave

      CONVENIENCE STORE • 4,608 SF
      5499 Grand Ave, Gurnee, IL 60031-1786
      View Details
    • Value Estimation
      $665,000
      880 SF

      4885 Grand Ave

      CONVENIENCE STORE • 880 SF
      4885 Grand Ave, Gurnee, IL 60031-2625
      View Details

    Similar Nearby for Sale

    • $1,749,000
      19,000 SF

      Gurnee, IL Mixed-Use Investment

      19,000 SF Industrial/Retail Opportunity
      3500 Grand Ave, Gurnee, IL 60031
      View Details
    • Contact for pricing

      Commercial Land Ideal for Development

      Commercial land parcel suitable for retail or office development.
      35923 Barberry Ln, Gurnee, IL 60031
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      Gurnee Town Center Retail Space

      Dominant power center in Gurnee's regional trade area.
      7105 Grand Ave, Gurnee, IL 60031
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      7,220 SF

      Gurnee Restaurant Building on Corner

      7,220 SF restaurant on 2.18 AC corner lot.
      6577 Grand Ave, Gurnee, IL 60031
      View Details
    • $185,000
      1.00 Acre

      Gurnee Land For Sale

      Almost 1 acre zoned O-1 Restricted Office District.
      1577 N Dilleys Rd, Gurnee, IL 60031
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      26,836 SF

      Retail Space Near Gurnee Mills

      Retail space with high visibility near Gurnee Mills.
      6050 Gurnee Mills Cir E, Gurnee, IL 60031
      View Details
    • Contact for pricing
      78,630 SF

      Gurnee Retail Anchor Opportunity

      65,819 SF ground level retail space in Gurnee, Illinois.
      6136 West Grand Ave, Gurnee, IL 60031
      View Details
    • Contact for pricing
      76,230 SF

      Adaptable Retail Space in Gurnee

      1,500 SF commercial unit in high-traffic retail center.
      34491 N Old Walnut Cir, Gurnee, IL 60031
      View Details
    • Contact for pricing

      Gurnee Commercial Space For Rent

      New commercial building suitable for retail or office use.
      34498 N Old Walnut Cir, Gurnee, IL 60031
      View Details
    • Contact for pricing

      Gurnee Mixed-Use Development Opportunity

      Mixed-use development with office, retail, and restaurant spaces available.
      5101 Washington St, Gurnee, IL 60031
      View Details
    • Contact for pricing
      12,000 SF

      Gurnee Retail Space For Lease

      High-traffic location, 1,901 sq ft available.
      7010 Grand Ave, Gurnee, IL 60031
      View Details

    Property Visit Statistics

    • Visits by month
      27.3k
    • Visitors by month
      15.5k
    • Avg Time on site
      12 min
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    Gurnee, IL 60031-3738
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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