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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Retail space
440 Sheridan Rd, Highwood, IL 60040-1316
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US28-2478486
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1966
Construction
BRICK
Total area
3,154 SF
Lot
0.08 ac (3,572 SF)
APN
16-15-208-037
UPID
US28-2478486
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
$570k
CAP Approach
CAP
$495k
Comparable Approach
Comparable
$377k
Blend (final)
Blend
$505k
Owner & transaction history
Nice Ice Chicago LLC · 3 yrs held
Nice Ice Chicago LLC
since 2023
Last sale
$500,000
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$570,000
+42.7%
Auto repair, garage
$550,000
+37.4%
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
$585,000
ML approach
$570,000
CAP Approach
CAP Return
Estimation
6%
$540,000
6.5%
$495,000
7%
$460,000
Alternative Use
Use
Estimation
RETAIL STORES
$400,000
Current use
COMMERCIAL (GENERAL)
$570,000
Change: +43% · Conversion: Easy
AUTO REPAIR, GARAGE
$550,000
Change: +37% · Conversion: Difficult
OFFICE BUILDING
$380,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$505k
Range $455k – $556k · ±10% · vs last sale $500k (May 10 2023)
Last sale anchor
$500k
May 10 2023
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
$160 / 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
$11,849
Tax year 2023
Assessed value
$123,946
Assessed 2023
Previous assessed
$136,161
-9.0% YoY
Effective rate
9.56%
On assessed value
Assessed land
$32,279
Assessed improvement
$91,667
Land market value
$96,847
Improvement market value
$275,029
Total market value
$371,876
Applied tax rate
18,045.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1966
Construction
BRICK
Heating
NONE
Total area
3,154 SF
Lot
0.08 ac (3,572 SF)
APN
16-15-208-037
UPID
US28-2478486
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
RETAIL STORES Current
Est. value
$400,000
COMMERCIAL (GENERAL)
Est. value
$570,000
AUTO REPAIR, GARAGE
Est. value
$550,000
OFFICE BUILDING
Est. value
$380,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1966
Construction
BRICK
Heating
NONE
Lot
0.08 ac
Current owner
From public records · entity-resolved
Nice Ice Chicago LLC
Entity
Mailing address
440 SHERIDAN RD, HIGHWOOD, IL 60040-1316
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 10, 2023
$500,000
Nice Ice Chicago LLC
Vitcenzi Properties LLC
Warranty Deed
$350,000 · Vitcenzi Properties LLC
Oct 5, 2020
—
Vitcenzi Ptshp
—
Deed
related
$313,896 · Lake Forest Bk&tr
Oct 4, 2010
—
Vitcenzi Properties LLC
Vitcenzi Ptshp
Quit Claim Deed
related
—
—
—
Vitchenzi Ptshp
—
Deed Of Trust
related
$200,839 · Lake Forest Bank & Trust Co
—
—
Vitcenzi Ptshp
—
Loan Modification
related
$313,896 · Lake Forest Bk&tr
—
—
Vitcenzi Ptshp
—
Deed Of Trust
related
$210,000 · Lake Forest Bank & Trust Co
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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