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Property profile & analytics
OFF-MARKET
Estimated value
$1,560,000
Gas stations
490 Belvidere Rd, Grayslake, IL 60030-2409
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US28-0794807
Property profile
Verified
Property type
Gas stations
Use group
SERVICE STATION WITH FOOD MART
Year built
2000
Construction
BRICK
Total area
11,395 SF
Lot
3 ac (130,680 SF)
APN
06-35-200-005
UPID
US28-0794807
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
$1.68M
Blend (final)
Blend
$1.56M
Owner & transaction history
Realty Income Illinois Props 3 · 8 yrs held
Realty Income Illinois Props 3
since 2017
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
SERVICE STATION (FULL SERVICE)
$2,060,000
Current use
AUTO REPAIR, GARAGE
$1,990,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$1.56M
Range $1.40M – $1.72M · ±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
$137 / 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
$39,830
Tax year 2023
Assessed value
$398,177
Assessed 2023
Previous assessed
$332,233
+19.8% YoY
Effective rate
10.00%
On assessed value
Assessed land
$261,356
Assessed improvement
$136,821
Land market value
$784,146
Improvement market value
$410,504
Total market value
$1,194,650
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
Gas stations
Use group
SERVICE STATION WITH FOOD MART
Status
Off-Market
Year built
2000
Construction
BRICK
Heating
NONE
Total area
11,395 SF
Lot
3 ac (130,680 SF)
APN
06-35-200-005
UPID
US28-0794807
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
SERVICE STATION (FULL SERVICE) Current
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$2.0M
SERVICE STATION (FULL SERVICE) Current
AUTO REPAIR, GARAGE
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
2000
Construction
BRICK
Heating
NONE
Lot
3 ac
Current owner
From public records · entity-resolved
Realty Income Illinois Props 3
Entity
Mailing address
7225 NORTHLAND DR N STE #210, BROOKLYN PARK, MN 55428-1575
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
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 25, 2017
$2,012,528
Realty Income Illinois Props 3
Trust 3051
Grant Deed
—
Jun 14, 2017
—
Trust 3051
—
Deed
related
$200,000 · Lake Forest Bk&tr
Jan 30, 2009
—
Trust 3051
—
Trustees Deed
related
$520,000 · Lake Forest Bank & Trust Co
Mar 20, 2006
—
Trust 3051
—
Deed Of Trust
related
$1,300,000 · Lake Forest Bank & Trust Co
Nov 15, 2001
—
Bank Of Waukegan Trustee
—
Deed Of Trust
related
$1,900,003 · Lake Forest Bank & Trust Co
Oct 5, 2000
—
Bank Of Waukegan Trustee
—
Grant Deed
related
$1,048,000 · Lake Forest Bank & Trust Co
Feb 24, 2000
$318,000
Bank Of Waukegan Trustee
Northern Trust Co Trustee
Grant Deed
related
$286,200 · Lake Forest Bank & Trust Co
—
—
Trust 3051
—
Deed Of Trust
related
$294,730 · Lake Forest Bank & Trust Co
—
—
Trust 3051
—
Loan Modification
related
—
—
—
Bank Of Waukegan Trustee
—
Deed Of Trust
related
$80,000 · Lake Forest Bank & Trust Co
—
—
Trust 3051
—
Deed Of Trust
related
$200,000 · Lake Forest Bk&tr
—
—
Bank Of Waukegan
—
Deed Of Trust
related
$154,364 · 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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