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Property profile & analytics
FOR LEASE
Office buildings
415 Washington St 004A, Waukegan, IL 60085
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US28-1969353
For Lease
1 / 15
$13 SF/Yr
415 Washington St,Unit 004A, Waukegan, IL 60085
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1950
Construction
BRICK
Total area
82,767 SF
Lot
2.61 ac (113,735 SF)
APN
08-21-423-008
UPID
US28-1969353
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
-
Turn the Paige Tax & Accounting Accounting Firm
-
McCollum, Hodgkinson, & Nikitas P.C. Law Firm
-
Law Offices of Douglas E. Zeit, P.C. Law Firm
-
Nikitas Gregory C Law Firm
-
Fidelity National Title Title Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.28M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.30M
Blend (final)
Blend
$3.61M
Owner & transaction history
415 Washington Waukegan LLC · 6 yrs held
415 Washington Waukegan LLC
since 2020
Last sale
$3.1M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.2M
+1.3%
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
$4,060,000
ML approach
$4,280,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,160,000
Current use
COMMERCIAL (GENERAL)
$5,225,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$3.61M
Range $3.24M – $3.97M · ±10% · vs last sale $3.10M (Mar 4 2020)
Last sale anchor
$3.10M
Mar 4 2020
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
$44 / 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
$98,769
Tax year 2023
Assessed value
$1,075,189
Assessed 2023
Previous assessed
$1,010,317
+6.4% YoY
Effective rate
9.19%
On assessed value
Assessed land
$307,106
Assessed improvement
$768,083
Land market value
$921,410
Improvement market value
$2,304,479
Total market value
$3,225,889
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1950
Construction
BRICK
Heating
NONE
Total area
82,767 SF
Lot
2.61 ac (113,735 SF)
APN
08-21-423-008
UPID
US28-1969353
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
$5.2M
COMMERCIAL (GENERAL)
Est. value
$5.2M
OFFICE BUILDING Current
COMMERCIAL (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
1950
Construction
BRICK
Heating
NONE
Lot
2.61 ac
Current owner
From public records · entity-resolved
415 Washington Waukegan LLC
Entity
Mailing address
25 E MAIN ST #204, ROSELLE, IL 60172-2056
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 5, 2023
—
Ej Investment Group INC
—
Deed
related
$300,000 · Martom Properties INC
Mar 9, 2022
—
415 Washington Waukegan LLC
—
Deed
related
$250,000 · Roger Becker
Jan 19, 2021
—
415 Washington Waukegan LLC
—
Deed
related
$3,500,000 · Numark Cu
Mar 4, 2020
$3,100,000
415 Washington Waukegan LLC
415 Washington Street LLC
Special Warranty Deed
$2,278,500 · Lincolnway Community Bank
Sep 26, 2017
—
415 Washington Street LLC
—
Deed
related
$1,500,000 · Stc Cap Bk
May 25, 2016
—
415 Washington Street LLC
Vfc Properties 17 LLC
Quit Claim Deed
related
—
May 25, 2016
$2,150,000
415 Washington Street LLC
Vfc Properties 17 LLC
Grant Deed
—
Aug 17, 2012
—
Vfc Properties 17 LLC
Sheriff Of Lake County
Trustees Deed
related
—
—
—
Jdi Waukegan LP
—
Deed Of Trust
related
$4,900,000 · Lehman Capital Corp
—
—
Vfc Properties 17 LLC
—
Deed Of Trust
related
$3,059,275 · Vfc Partners 17 LLC
—
—
415 Washington Street LLC
—
Deed Of Trust
related
$1,500,000 · Stc Cap Bk
—
—
First Bank & Trust Ttee
—
Deed Of Trust
related
$1,000,000 · First Bank & Trust
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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