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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Retail space
512 Higgins Rd, Park Ridge, IL 60068-5733
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US28-0031112
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1964
Total area
2,700 SF
Lot
0.09 ac (3,750 SF)
APN
12-02-408-010
UPID
US28-0031112
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
-
Care for soul Inc I Home Care Service I Light Housekeeping I Companionship I Personal Care Home Health Care Service
-
Care for soul Inc I Home Care Service Home Health Care Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$385k
CAP Approach
CAP
$575k
Comparable Approach
Comparable
$703k
Blend (final)
Blend
$520k
Owner & transaction history
Mehta Realty INC · 7 yrs held
Mehta Realty INC
since 2019
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$590,000
+47.1%
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 Park Ridge submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Park Ridge 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
$385,000
CAP Approach
CAP Return
Estimation
6%
$625,000
6.5%
$575,000
7%
$535,000
Alternative Use
Use
Estimation
RETAIL STORES
$405,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$590,000
Change: +47% · Conversion: Moderate
OFFICE BUILDING
$360,000
Change: -10% · Conversion: Easy
AUTO REPAIR, GARAGE
$325,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$520k
Range $468k – $572k · ±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
$193 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$24,535
Tax year 2022
Assessed value
$95,103
Assessed 2022
Previous assessed
$74,000
+28.5% YoY
Effective rate
25.80%
On assessed value
Assessed land
$16,875
Assessed improvement
$78,228
Land market value
$67,500
Improvement market value
$312,912
Total market value
$380,412
Applied tax rate
26,008.0000
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
Retail space
Use group
STORE, RETAIL OUTLET
Status
Off-Market
Year built
1964
Heating
NONE
Stories
2
Total area
2,700 SF
Lot
0.09 ac (3,750 SF)
APN
12-02-408-010
UPID
US28-0031112
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
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$405,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$590,000
OFFICE BUILDING
Est. value
$360,000
AUTO REPAIR, GARAGE
Est. value
$325,000
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
1964
Heating
NONE
Stories
2
Lot
0.09 ac
Current owner
From public records · entity-resolved
Mehta Realty INC
Entity
Mailing address
8306 W OAK AVE, NILES, IL 60714-1616
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
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 23, 2019
$400,000
Mehta Realty INC
Schoen Properties LLC
Warranty Deed
—
Jul 11, 2007
$525,000
Schoen Properties LLC
Zethcon Corp
Grant Deed
$200,000 · South Central Bank & Trust Co
Mar 1, 2007
$420,000
Zethcon Corp
512 Higgins Building LLC
Warranty Deed
$344,000 · American Chartered Bank
Feb 27, 2002
$108,500
512 Higgins Building LLC
Zethcon Corp
Quit Claim Deed
related
—
—
—
512 Higgins Building LLC
—
Deed Of Trust
related
$150,000 · Northern Trust Co
—
—
512 Higgins Building LLC
—
Deed Of Trust
related
$200,000 · American Chartered Bank
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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