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Property profile & analytics
OFF-MARKET
Estimated value
$2,675,000
Warehouses
601 Burnett Rd, Island Lake, IL 60042-9200
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US28-1264177
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1990
Construction
BRICK
Total area
25,080 SF
Lot
5 ac (217,800 SF)
APN
09-21-200-017
UPID
US28-1264177
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
-
Robert E Hummel Construction Co Construction Company General Contractor
-
Barbara Berthold Interior Design Interior Design Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.68M
CAP Approach
CAP
$2.02M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.68M
Owner & transaction history
601 Burnett LLC · 1 yrs held
601 Burnett LLC
since 2024
Last sale
$2.7M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.4M
+106.6%
Restaurant
$4.3M
+101.7%
Retail stores
$3.2M
+50.4%
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 Island Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Island Lake 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
$2,675,000
ML approach
$2,675,000
CAP Approach
CAP Return
Estimation
6%
$2,185,000
6.5%
$2,015,000
7%
$1,875,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,120,000
Current use
AUTO REPAIR, GARAGE
$4,385,000
Change: +107% · Conversion: Easy
RESTAURANT
$4,280,000
Change: +102% · Conversion: Difficult
RETAIL STORES
$3,190,000
Change: +50% · Conversion: Moderate
OFFICE BUILDING
$3,035,000
Change: +43% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,805,000
Change: +32% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,940,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$2.68M
Range $2.41M – $2.94M · ±10% · vs last sale $2.68M (Feb 29 2024)
Last sale anchor
$2.68M
Feb 29 2024
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
$107 / 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
$56,083
Tax year 2023
Assessed value
$337,883
Assessed 2023
Previous assessed
$578,447
-41.6% YoY
Effective rate
16.60%
On assessed value
Assessed land
$156,074
Assessed improvement
$181,809
Land market value
$468,269
Improvement market value
$545,482
Total market value
$1,013,751
Applied tax rate
13,003.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1990
Construction
BRICK
Heating
NONE
Total area
25,080 SF
Lot
5 ac (217,800 SF)
APN
09-21-200-017
UPID
US28-1264177
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
WAREHOUSE, STORAGE Current
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$4.4M
RESTAURANT
Est. value
$4.3M
RETAIL STORES
Est. value
$3.2M
OFFICE BUILDING
Est. value
$3.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.8M
INDUSTRIAL (GENERAL)
Est. value
$1.9M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
RESTAURANT
RETAIL STORES
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
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
1990
Construction
BRICK
Heating
NONE
Lot
5 ac
Current owner
From public records · entity-resolved
601 Burnett LLC
Entity
Mailing address
3550 W SALT CRK LN STE #104, ARLINGTON HEIGHTS, IL 60005-1091
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 30, 2024
$2,675,000
601 Burnett LLC
Ecr 601 Burnett LLC
Special Warranty Deed
$1,333,000 · The American Commercial Bank & Trus
Feb 29, 2024
$553,000
Ecr 601 Burnett LLC
Ericon Leasing Corp
Sheriffs Deed
related
—
—
—
Trust 3477
—
Deed Of Trust
related
$4,000,000 · Ridgestone Bank
—
—
Trust 3477
—
Deed Of Trust
related
$150,000 · Ridgestone Bank
—
—
Amcore Investment Group Ttee
—
Deed Of Trust
related
$500,000 · Amcore Bank
—
—
Trust 3477
—
Deed Of Trust
related
$980,000 · Ridgestone Bank
—
—
Trust 3477
—
Deed Of Trust
related
$300,000 · Ridgestone Bank
—
—
Trust 3477
—
Deed Of Trust
related
$1,700,000 · Amcore Bank
—
—
Robert L Hummel
—
Deed Of Trust
related
$980,000 · Ridgestone Bank
—
—
Amcore Investment Group NA Tte
—
Deed Of Trust
related
$700,000 · Amcore 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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