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Property profile & analytics
OFF-MARKET
Estimated value
$3,200,000
Community centers
506 Wise Rd, Schaumburg, IL 60193-3815
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US28-2629901
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1979
Lot
2.62 ac (114,127 SF)
APN
07-28-409-040
UPID
US28-2629901
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
-
Checkers Pancake House Restaurant
-
Mel Wilmot Car Dealership Shipping Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.20M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.20M
Owner & transaction history
Shifa Cove Center LLC · 2 yrs held
Shifa Cove Center LLC
since 2024
Last sale
$3.2M
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 Schaumburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Schaumburg 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
$3,200,000
ML approach
$3,200,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.20M
Range $2.88M – $3.52M · ±10% · vs last sale $3.20M (Jan 17 2024)
Last sale anchor
$3.20M
Jan 17 2024
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
—
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 2022Property tax & assessments
Tax year 2022
Tax billed
$138,562
Tax year 2022
Assessed value
$510,094
Assessed 2022
Previous assessed
$539,744
-5.5% YoY
Effective rate
27.16%
On assessed value
Assessed land
$342,774
Assessed improvement
$167,320
Land market value
$1,371,096
Improvement market value
$669,280
Total market value
$2,040,376
Applied tax rate
35,011.0000
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1979
Heating
NONE
Lot
2.62 ac (114,127 SF)
APN
07-28-409-040
UPID
US28-2629901
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL 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
Building & site characteristics
From public records
Year built
1979
Heating
NONE
Lot
2.62 ac
Current owner
From public records · entity-resolved
Shifa Cove Center LLC
Entity
Mailing address
PO BOX 597315, CHICAGO, IL 60659-7315
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 17, 2024
$3,200,000
Shifa Cove Center LLC
Cove Shopping Center LLC
Special Warranty Deed
—
Dec 5, 2017
$1,596,000
Cove Shopping Center LLC
Bmo Reo-il Retail LLC
Trustees Deed
$2,000,000 · Heartland Bk
Nov 12, 2015
—
Bmo Reo-il Retail LLC
Judicial Sales Corp
Grant Deed
related
—
Apr 7, 2015
—
Lajpat Madan
Lrm Management INC
Quit Claim Deed
related
—
Dec 7, 2012
—
Lrm Management INC
Trust L006-127
Grant Deed
related
—
Dec 21, 2006
$3,650,000
Atg Trust Co
Chicago Title Land Trust Co
Deed
$2,737,500 · Harris NA
—
—
American Natl Bk&tr Chgo Ttee
—
Deed Of Trust
related
$1,056,446 · Harris Bank Roselle
—
—
Nbd Trust Co Ill Trustee
—
Deed Of Trust
related
$1,000,000 · Itasca 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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