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Property profile & analytics
OFF-MARKET
Estimated value
$2,475,000
Retail space
561 Lewis Ave Waukegan, IL 60085-6113
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US28-4946027
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2015
Construction
BRICK
Total area
14,400 SF
Lot
1.62 ac (70,741 SF)
APN
08-29-220-036
UPID
US28-4946027
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
-
Gilmore Brothers Garage Door Repair Company Building Supply General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.05M
CAP Approach
CAP
$2.27M
Comparable Approach
Comparable
$2.64M
Blend (final)
Blend
$2.48M
Owner & transaction history
Sohax Partnership LLC · 1 yrs held
Sohax Partnership LLC
since 2025
Last sale
$2.5M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.5M
+65.7%
Restaurant
$2.4M
+58.0%
Apartment house (5+ units)
$1.6M
+6.1%
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
$3,095,000
ML approach
$3,050,000
CAP Approach
CAP Return
Estimation
6%
$2,455,000
6.5%
$2,265,000
7%
$2,105,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,520,000
Current use
AUTO REPAIR, GARAGE
$2,515,000
Change: +66% · Conversion: Difficult
RESTAURANT
$2,400,000
Change: +58% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,610,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$2.48M
Range $2.23M – $2.72M · ±10% · vs last sale $2.50M (Jan 23 2025)
Last sale anchor
$2.50M
Jan 23 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
$172 / 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
$68,262
Tax year 2023
Assessed value
$676,339
Assessed 2023
Previous assessed
$698,261
-3.1% YoY
Effective rate
10.09%
On assessed value
Assessed land
$136,404
Assessed improvement
$539,935
Land market value
$409,253
Improvement market value
$1,619,967
Total market value
$2,029,220
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
2015
Construction
BRICK
Heating
NONE
Total area
14,400 SF
Lot
1.62 ac (70,741 SF)
APN
08-29-220-036
UPID
US28-4946027
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
$1.5M
AUTO REPAIR, GARAGE
Est. value
$2.5M
RESTAURANT
Est. value
$2.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.6M
RETAIL STORES Current
AUTO REPAIR, GARAGE
RESTAURANT
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
2015
Construction
BRICK
Heating
NONE
Lot
1.62 ac
Current owner
From public records · entity-resolved
Sohax Partnership LLC
Entity
Mailing address
333 S WABASH AVE STE #2800, CHICAGO, IL 60604-4264
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 23, 2025
$2,500,000
Sohax Partnership LLC
Iff Waukegan Market LLC
Deed
$1,750,000 · Byline 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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