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Property profile & analytics
OFF-MARKET
Commercial real estate
626 3rd St 1W Lockport, IL 60441-3180
Individually Owned
8-yr Hold
~
Est. High Equity
Property ID
US28-1069835
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Lot
0.22 ac (9,583 SF)
APN
11-04-24-113-025
UPID
US28-1069835
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Michael S Lorenzo · 8 yrs held
Michael S Lorenzo
since 2017
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Lockport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lockport 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$9,855
Tax year 2023
Assessed value
$107,559
Assessed 2023
Previous assessed
$107,559
+0.0% YoY
Effective rate
9.16%
On assessed value
Assessed land
$27,182
Assessed improvement
$80,377
Land market value
$81,546
Improvement market value
$241,131
Total market value
$322,677
Applied tax rate
1,112.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Heating
NONE
Lot
0.22 ac (9,583 SF)
APN
11-04-24-113-025
UPID
US28-1069835
Jurisdiction
WILL
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL 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
Building & site characteristics
From public records
Heating
NONE
Lot
0.22 ac
Current owner
From public records · entity-resolved
Michael S Lorenzo
Individual
Mailing address
626 E 3RD ST, LOCKPORT, IL 60441-3141
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 3, 2017
$357,000
Michael S Lorenzo
Anita A Garcia
Warranty Deed
—
Nov 5, 2015
—
Alamillo,joaquina Trust
Alamillo,joaquina
Quit Claim Deed
related
—
Feb 23, 2011
—
Joaquina Alamillo
Alamillo,estanislao B & Joaquena
Quit Claim Deed
related
$261,590 · Old Second National Bank
Aug 16, 2004
—
Estanislao B Alamillo
—
Trustees Deed
related
$125,000 · First Midwest Bank
May 4, 1999
$275,000
Estanislao B Alamilio
Edward L Kure Trustee
Grant Deed
$95,000 · Cendant Mortgage Corp
—
—
Estanislao B Alamillo
—
Deed Of Trust
related
$267,000 · First Midwest Bank
—
—
Estanislao Alamillo
—
Deed Of Trust
related
$121,150 · Cendant Mortgage Corp
—
—
Estanislao Alamillo
—
Deed Of Trust
related
$114,000 · First Midwest 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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