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    Property profile & analytics

    700 Sheridan Rd Highwood, IL 60040-1002

    • Assisted living facilities
    • 59,742 SF
    • 1.67 lot acres
    OFF-MARKET
    Value Estimation
    $4,665,000
    Last Sale
    May 29, 2025
    $4,200,000
    Location Intelligence
    Property ID
    US28-4827677
    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

    • Life time and / Apartment Complex

    Property Details for 700 Sheridan Rd

    Year built
    1965
    Construction
    BRICK
    Lot size
    1.67 lot acres
    Property size
    59,742 SF
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    16-15-202-008
    APU
    1615202008

    Description

    This exceptional mixed-use property in Highwood, Illinois, presents a unique investment opportunity. The five-story building, originally a Ramada Inn, boasts 105 units: 95 studios averaging 316 square feet and 10 one-bedroom units ranging from 632 to 720 square feet. A recent, comprehensive renovation (2019) included the addition of a 2,100 square foot commercial kitchen and a 20,000 square foot retail space ideal for grocery stores, restaurants, or similar ventures. The total square footage is 91,500, situated on a 1.67-acre lot zoned PUD. Building amenities include a lobby, reception area, management office, library, mail room, beauty/barber shop, sundry store, wellness/therapy facilities, an indoor pool, sauna, and an industrial kitchen. The property is currently vacant. Its location in Chicago's affluent North Shore, between Lake Forest and Highland Park, offers easy access via I-94, IL Route 22, IL Route 131, and US Route 41. Excellent public transportation is available via Metra and Pace, with convenient access to the Chicago Loop and O'Hare Airport. This property is perfect for an investor seeking to provide quality housing and retail options in a vibrant, desirable community. The building was constructed in 1971 and is classified as Class B. Bid deadline is August 14th at 5:00 PM CT. On-site inspections are available by appointment only.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $5,195,000

    • CAP approach

      CAP return
      Estimation
      6%
      $4,520,000
      6.5%
      $4,470,000
      7%
      $3,855,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $3,725,000
      Geo Method
      $4,125,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $4,870,000
      Retail
      $4,370,000
      Mixed-Use
      $3,925,000
      Hospitality
      $3,515,000
      Educational
      $3,770,000
      Residential Income
      $3,570,000
      Energy
      $4,270,000
      Income-Based Land
      $3,595,000
      Food Service
      $4,080,000

    Location Insight

    • Map
    • Local Demand
    City
    Highwood
    County
    Lake
    State
    Illinois
    Longitude
    -87.8147
    Latitude
    42.2103
    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
    $187,502
    $508,923
    $3,028,630
    $3,537,553
    -
    $1,526,922
    $9,086,799
    $10,613,721

    Comparable in this City

    • Value Estimation by Request
      16,400 SF

      210 Green Bay Rd

      Individual retail properties • 16,400 SF
      210 Green Bay Rd, Highwood, IL 60040
      View Details
    • Value Estimation by Request
      0.28 Acres

      228 Grn Bay Rd

      VACANT COMMERCIAL LAND • 0.28 Acres
      228 Grn Bay Rd, Highwood, IL 60040-1703
      View Details
    • Value Estimation by Request

      317 Grn Bay Rd

      VACANT COMMERCIAL LAND
      317 Grn Bay Rd, Highwood, IL 60040-1315
      View Details
    • Value Estimation by Request
      0.31 Acres

      Sheridan Rd

      VACANT COMMERCIAL LAND • 0.31 Acres
      Sheridan Rd, Highwood, IL 60040
      View Details
    • Value Estimation by Request
      0.03 Acres

      406 Sheridan Rd

      VACANT COMMERCIAL LAND • 0.03 Acres
      406 Sheridan Rd, Highwood, IL 60040-1309
      View Details
    • Value Estimation by Request
      0.05 Acres

      118 Nn Ave

      VACANT COMMERCIAL LAND • 2,746 SF
      118 Nn Ave, Highwood, IL 60040-1522
      View Details

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    700 Sheridan Rd
    Highwood, IL 60040-1002
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    Realmo Value Estimation

    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.

    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.

    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
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