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Property profile & analytics
OFF-MARKET
Estimated value
$900,000
Retail space
521 Greenwood Ave, Waukegan, IL 60087-5102
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US28-0027926
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1958
Construction
BRICK
Total area
9,180 SF
Lot
0.18 ac (7,954 SF)
APN
08-16-104-023
UPID
US28-0027926
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
-
Chell B's Hair Salon Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.06M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$691k
Blend (final)
Blend
$900k
Owner & transaction history
Lpml 521 W Greenwood Ave LLC · 1 yrs held
Lpml 521 W Greenwood Ave LLC
since 2025
Last sale
$850,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+11.1%
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 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
$1,050,000
ML approach
$1,055,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,035,000
Current use
COMMERCIAL (GENERAL)
$1,145,000
Change: +11% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,030,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$900k
Range $810k – $990k · ±10% · vs last sale $850k (Apr 3 2025)
Last sale anchor
$850k
Apr 3 2025
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
$98 / 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
$13,643
Tax year 2023
Assessed value
$146,529
Assessed 2023
Previous assessed
$139,551
+5.0% YoY
Effective rate
9.31%
On assessed value
Assessed land
$13,809
Assessed improvement
$132,720
Land market value
$41,431
Improvement market value
$398,200
Total market value
$439,631
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1958
Construction
BRICK
Heating
NONE
Total area
9,180 SF
Lot
0.18 ac (7,954 SF)
APN
08-16-104-023
UPID
US28-0027926
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
$1.0M
COMMERCIAL (GENERAL)
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.0M
RETAIL STORES Current
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1958
Construction
BRICK
Heating
NONE
Lot
0.18 ac
Current owner
From public records · entity-resolved
Lpml 521 W Greenwood Ave LLC
Entity
Mailing address
837 E ORCH ST, MUNDELEIN, IL 60060-3019
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 3, 2025
$850,000
Lpml 521 W Greenwood Ave LLC
D&m Capital Management LLC
Warranty Deed
$679,920 · Old National Bank
Jan 26, 2015
—
D & M Capital Management LLC
Bousson,donald R & Sharon E
Quit Claim Deed
related
—
Apr 11, 2006
$500,000
Donald R Bousson
Trust 2112
Grant Deed
$400,000 · First Bank
Mar 8, 2004
—
Northside Community Bank Ttee
Chicago Title Land Trt Co Ttee
Grant Deed
related
$337,000 · Northside Community Bank
Feb 17, 2000
$374,000
Grand Premier Trt
Grand Premier Trt & Inv Ttee
Grant Deed
related
$299,400 · Grand National 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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