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Property profile & analytics
OFF-MARKET
Estimated value
$7,275,000
Retail space
6557 Grand Ave, Gurnee, IL 60031-1607
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US28-5239897
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1996
Construction
BRICK
Total area
21,395 SF
Lot
2.16 ac (94,090 SF)
APN
07-17-202-012
UPID
US28-5239897
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
-
McAlister's Deli Take-out & Catering
-
Helzberg Diamonds (Bike/Boat/Book/etc) Store
-
T-Mobile Telecommunications Service Data Center
-
Dollar Tree Discount Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.80M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.28M
Owner & transaction history
Md7 Gurnee LLC · 3 yrs held
Md7 Gurnee LLC
since 2023
Last sale
$6.7M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$5.0M
+85.0%
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 Gurnee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gurnee 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
$7,875,000
ML approach
$7,800,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,035,000
Change: +85% · Conversion: Easy
Blend value · Realmo final
$7.28M
Range $6.55M – $8.00M · ±10% · vs last sale $6.72M (Apr 11 2023)
Last sale anchor
$6.72M
Apr 11 2023
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
$340 / 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
$73,504
Tax year 2023
Assessed value
$776,720
Assessed 2023
Previous assessed
$754,097
+3.0% YoY
Effective rate
9.46%
On assessed value
Assessed land
$306,860
Assessed improvement
$469,860
Land market value
$920,672
Improvement market value
$1,409,721
Total market value
$2,330,393
Applied tax rate
8,029.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1996
Construction
BRICK
Heating
NONE
Units
4
Total area
21,395 SF
Lot
2.16 ac (94,090 SF)
APN
07-17-202-012
UPID
US28-5239897
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
OFFICE BUILDING
Est. value
$5.0M
OFFICE BUILDING
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
1996
Construction
BRICK
Heating
NONE
Units
4
Lot
2.16 ac
Current owner
From public records · entity-resolved
Md7 Gurnee LLC
Entity
Mailing address
417 1ST AVE SE, CEDAR RAPIDS, IA 52401-1309
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 14, 2025
—
Md7 Gurnee LLC
—
Deed
related
$107,315,000 · Wells Fargo Bank NA
Apr 11, 2023
$6,715,000
Md7 Gurnee LLC
Irc Grand Hunt Center LLC
Special Warranty Deed
$4,420,000 · Cedar Rapids Bank & Trust Co
Feb 23, 2022
—
Irc Grand Hunt Center LLC
—
Deed
related
$835,000,000 · Wells Fargo Bank NA
Dec 27, 2018
—
Irc Grand Hunt Center LLC
—
Loan Modification
related
$835,000,000 · Wells Fargo Bk
Sep 9, 2010
—
Inland Mchenry Road LLC
—
Deed Of Trust
related
$20,535,000 · Tcf National Bank
May 10, 2010
—
Inland Grand Hunt Center LLC
Inland Real Estate Bat LLC
Quit Claim Deed
related
—
Apr 8, 2008
—
Indland Real Estate Bat LLC
Trust 122398-02
Grant Deed
$2,330,000 · Bank Of America
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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