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Property profile & analytics
OFF-MARKET
Estimated value
$2,260,000
Medical Office Space
650 Midlothian Rd, Mundelein, IL 60060-1629
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US28-0743582
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
2005
Construction
BRICK
Total area
7,215 SF
Lot
4.19 ac (182,386 SF)
APN
10-24-316-004
UPID
US28-0743582
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
$2.31M
CAP Approach
CAP
$1.61M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.26M
Owner & transaction history
Vetley Mundelein LLC · 4 yrs held
Vetley Mundelein LLC
since 2022
Last sale
$2.2M
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 Mundelein submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mundelein 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
$2,340,000
ML approach
$2,305,000
CAP Approach
CAP Return
Estimation
6%
$1,740,000
6.5%
$1,610,000
7%
$1,495,000
Blend value · Realmo final
$2.26M
Range $2.03M – $2.49M · ±10% · vs last sale $2.20M (May 16 2022)
Last sale anchor
$2.20M
May 16 2022
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
$313 / 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
$46,120
Tax year 2023
Assessed value
$454,603
Assessed 2023
Previous assessed
$428,713
+6.0% YoY
Effective rate
10.15%
On assessed value
Assessed land
$148,303
Assessed improvement
$306,300
Land market value
$444,953
Improvement market value
$918,992
Total market value
$1,363,945
Applied tax rate
12,001.0000
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
Medical Office Space
Use group
MEDICAL CLINIC
Status
Off-Market
Year built
2005
Construction
BRICK
Heating
NONE
Total area
7,215 SF
Lot
4.19 ac (182,386 SF)
APN
10-24-316-004
UPID
US28-0743582
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
Building & site characteristics
From public records
Year built
2005
Construction
BRICK
Heating
NONE
Lot
4.19 ac
Current owner
From public records · entity-resolved
Vetley Mundelein LLC
Entity
Mailing address
706 GIDDINGS AVE STE #400, ANNAPOLIS, MD 21401-1427
Ownership since
2022
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
May 16, 2022
$2,200,000
Vetley Mundelein LLC
Timothy J Sullivan
Special Warranty Deed
$1,665,000 · Standard Insurance Co
Dec 10, 2012
—
Timothy J Sullivan
Sullivan B G Trust
Quit Claim Deed
related
—
May 15, 2006
—
Tcf National Bank
Nhse Sycamore LLC
Quit Claim Deed
related
—
Jan 24, 2006
$4,111,500
Scp 2005-c21-026 LLC
Cvs 5774 Il LLC
Grant Deed
—
Jun 30, 2004
$168,500
Cvs 5774 Il LLC
Sullivan,timothy J
Grant Deed
—
Jun 30, 2004
$121,000
Timothy J Sullivan
Sullivan,edwin O
Quit Claim Deed
related
—
Jun 30, 2004
$669,500
Cvs 5774 Il LLC
Sullivan,timothy J
Grant Deed
—
Jun 30, 2004
—
Lake County Div Transportation
Cvs 5774 Il LLC
Quit Claim Deed
related
—
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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