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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5688 Northridge Dr Gurnee, IL 60031-4910

    • Hotels
    • 49,154 SF
    • 2.37 lot acres
    OFF-MARKET
    Value Estimations
    $2,870,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-5826831
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • La Quinta Inn & Suites by Wyndham Chicago Gurnee / Hotel & Motel
    • gurnee mills mall / Clothing Store

    Property Details for 5688 Northridge Dr

    Year built
    1994
    Construction
    BRICK
    Lot size
    2.37 lot acres
    Property size
    49,154 SF
    Property type
    Hotels
    APN
    07-16-404-048
    APU
    716404048

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,708,000
      Market price range: $872k - $5.91M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $3,245,000
      Current use
      RESTAURANT
      $4,710,000
      Change: +45% Conversion: Difficult
      MEDICAL BUILDING
      $4,195,000
      Change: +29% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $4,130,000
      Change: +27% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $4,035,000
      Change: +24% Conversion: Difficult
      OFFICE BUILDING
      $3,690,000
      Change: +14% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Gurnee
    County
    Lake
    State
    Illinois
    Longitude
    -87.9443
    Latitude
    42.378
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $94,641
    $405,515
    $578,380
    $983,895
    -
    $1,216,667
    $1,735,314
    $2,951,981

    Comparable in this City

    • Value Estimation
      $1,230,000
      47,344 SF

      5742 Northridge Dr

      HOTEL • 47,344 SF
      5742 Northridge Dr, Gurnee, IL 60031-4911
      View Details
    • Value Estimation
      $3,905,000
      35,730 SF

      5420 Grand Ave

      HOTEL • 35,730 SF
      5420 Grand Ave, Gurnee, IL 60031-1735
      View Details
    • Value Estimation
      $4,795,000
      28,668 SF

      6090 Gurnee Mls E Cir

      HOTEL • 28,668 SF
      6090 Gurnee Mls E Cir, Gurnee, IL 60031-5272
      View Details
    • Value Estimation
      $1,210,000
      14,664 SF

      3740 Grand Ave

      HOTEL • 14,664 SF
      3740 Grand Ave, Gurnee, IL 60031-2948
      View Details
    • Value Estimation by Request
      2,106 SF

      36365 Skokie Hwy

      HOTEL • 2,106 SF
      36365 Skokie Hwy, Gurnee, IL 60031
      View Details
    • Value Estimation
      $4,265,000
      47,283 SF

      5724 Northridge Dr

      HOTEL • 47,283 SF
      5724 Northridge Dr, Gurnee, IL 60031-4911
      View Details

    Similar Nearby for Sale

    • $1,450,000
      9,997 SF

      Gurnee Plaza Retail Center

      High-income retail center, value-add potential.
      3430 Grand Ave, Gurnee, IL 60031
      View Details
    • Contact for pricing
      142,073 SF

      Freestanding Retail Building in Gurnee

      Retail building in established commercial corridor near major attractions.
      7735 Grand Ave, Gurnee, IL 60031
      View Details
    • $875,000
      4.56 Acres

      Gurnee Land Development Opportunity

      Approved 10-lot subdivision, ideal for builders/developers in Gurnee, IL.
      1999 N Fuller Rd, Gurnee, IL 60031
      View Details
    • Contact for pricing
      7,220 SF

      Gurnee Restaurant Building on Corner

      7,220 SF restaurant on 2.18 AC corner lot.
      6577 Grand Ave, Gurnee, IL 60031
      View Details
    • Contact for pricing

      Gurnee Town Center Retail Space

      Dominant power center in Gurnee's regional trade area.
      7105 Grand Ave, Gurnee, IL 60031
      View Details
    • $299,900
      0.20 Acres

      Updated Office Building with Access

      Office building with recent updates, handicap access, and storage.
      4017 Old Grand Ave, Gurnee, IL 60031
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,565 SF

      Gurnee Office Suites Available

      Move-in ready spaces, ample parking.
      495-505 Rte 21, Gurnee, IL 60031
      View Details
    • $14 SF/Yr
      4,800 SF

      Gurnee Office Suites for Lease

      Multiple Suites, 522-2128 sq ft
      135 Greenleaf St, Gurnee, IL 60031
      View Details
    • $8 SF/Yr
      105,000 SF

      Gurnee Village Commons: Flex Space Available

      Illinois Warehouse/Flex Space: 105,000 SF
      3575 Grand Ave, Gurnee, IL 60031
      View Details
    • Contact for pricing

      Prime Gurnee Commercial Land

      17.53 Acres, Single Tenancy, Build-to-Suit Available
      36396 Skokie Hwy, Gurnee, IL 60031
      View Details
    • Contact for pricing
      4,205 SF

      Grand Ave Office Suites, Gurnee IL

      Two Suites Available, Prime Location
      5465 Grand Ave, Gurnee, IL 60031
      View Details
    • $5 SF/Yr
      26,033 SF

      Gurnee Warehouse with Loading Docks

      26,033 SF warehouse with loading docks available for lease.
      3841-3865 Swanson Ct, Gurnee, IL 60031
      View Details
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    Gurnee, IL 60031-4910
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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