Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5900 Heatherridge Dr Gurnee, IL 60031-3159

    • Specialty properties
    • 8,472 SF
    • 71.70 lot acres
    OFF-MARKET
    Value Estimations
    $475,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1320548
    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

    • HeatherRidge Golf Course / Golf Course

    Property Details for 5900 Heatherridge Dr

    Year built
    1979
    Construction
    FRAME
    Lot size
    71.70 lot acres
    Property size
    8,472 SF
    Property type
    Specialty properties
    APN
    07-28-100-009
    APU
    728100009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $435,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $509,000
      Market price range: $236k - $812k

    • Alternative Use

      Use
      Estimation
      CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS
      $415,000
      Current use
      MEDICAL BUILDING
      $725,000
      Change: +74% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $710,000
      Change: +72% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $695,000
      Change: +68% Conversion: Difficult
      OFFICE BUILDING
      $635,000
      Change: +53% Conversion: Difficult
      RETAIL STORES
      $410,000
      Change: -1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Gurnee
    County
    Lake
    State
    Illinois
    Longitude
    -87.952
    Latitude
    42.3479
    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
    $32,667
    $116,028
    $140,404
    $256,432
    -
    $3,983,936
    $421,254
    $4,405,190

    Comparable in this City

    • Value Estimation
      $265,000
      450 SF

      Mcclure Ave

      PROFESSIONAL CLUBS/ASSOCIATIONS • 450 SF
      Mcclure Ave, Gurnee, IL 60031
      View Details
    • Value Estimation by Request
      265 SF

      101 Woodlake Blvd

      PROFESSIONAL CLUBS/ASSOCIATIONS • 265 SF
      101 Woodlake Blvd, Gurnee, IL 60031-3295
      View Details
    • Value Estimation
      $470,000
      10,640 SF

      305 Cemetery Rd

      FUNERAL HOME • 10,640 SF
      305 Cemetery Rd, Gurnee, IL 60031-2414
      View Details
    • Value Estimation by Request
      296 SF

      5389 Lezlie Ln

      PROFESSIONAL CLUBS/ASSOCIATIONS • 296 SF
      5389 Lezlie Ln, Gurnee, IL 60031-6319
      View Details
    • Value Estimation
      $340,000
      11,698 SF

      749 Milwaukee Ave

      CHARITABLE ORGANIZATION • 11,698 SF
      749 Milwaukee Ave, Gurnee, IL 60031-2649
      View Details
    • Value Estimation by Request
      17.53 Acres

      36396 Skokie Hwy

      Land • 17.53 Acres
      36396 Skokie Hwy, Gurnee, IL 60031
      View Details

    Similar Nearby for Sale

    • $320,000

      Gurnee Commercial Land Development

      .66-acre lot, prime Gurnee location.
      Gurnee IL 60031 Manchester Dr, Gurnee, IL 60031
      View Details
    • $1,199,000
      4,180 SF

      Gurnee Medical Office Building

      Class A Medical Office, 4180 sq ft, .3 acres
      1125 Delany Rd, Gurnee, IL 60031
      View Details
    • $598,000

      Gurnee Commercial Land: Prime Location

      High-traffic corner lot, ideal for retail or office.
      35923 Barberry Ln, Gurnee, IL 60031
      View Details
    • $967,000
      5,547 SF

      Gurnee Industrial Flex Space Available

      5,547 SF flex space in Gurnee, Illinois for sale.
      1680 N Delany Rd, Gurnee, IL 60031
      View Details
    • $555,680
      6,976 SF

      Gurnee Industrial Property For Sale

      Industrial property in Gurnee, Illinois, totaling 6,976 square feet.
      1379-1391 St. Paul Ave, Gurnee, IL 60031
      View Details
    • Contact for pricing
      77,500 SF

      Gurnee Warehouse with Office Space

      77,500 SF warehouse with 25,000 SF office space.
      1290 Lakeside Dr, Gurnee, IL 60031
      View Details

    Similar Nearby for Lease

    • $2,700 /Mo

      Charming Townhome in Cobble Creek

      Corner end-unit townhome in a convenient, comfortable Gurnee location.
      600 Creekside Cir, Gurnee, IL 60031
      View Details
    • Contact for pricing
      26,836 SF

      Retail Space Near Gurnee Mills

      Retail space with high visibility near Gurnee Mills.
      6050 Gurnee Mills Cir E, Gurnee, IL 60031
      View Details
    • Contact for pricing
      37,462 SF

      Gurnee Commercial Space For Rent

      New commercial building in Gurnee, ideal for retail or office.
      34498 N Old Walnut Cir, Gurnee, IL 60031
      View Details
    • 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
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5900 Heatherridge Dr
    Gurnee, IL 60031-3159
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.