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Property profile & analytics
OFF-MARKET
Estimated value
$2,120,000
Automotive properties
7000 Grand Ave, Gurnee, IL 60031-1626
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US28-1633172
Property profile
Verified
Property type
Automotive properties
Use group
VEHICLE SALES, RENTALS
Year built
1998
Construction
BRICK
Total area
14,880 SF
Lot
7.45 ac (324,522 SF)
APN
07-08-310-044
UPID
US28-1633172
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
-
Muller Honda of Gurnee Car Dealership
-
Muller Honda of Gurnee Service Department Auto Repair Shop
-
Muller Honda of Gurnee Parts Department Auto Parts Store
-
Electric Vehicle Charging Station Electric Motor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.89M
Blend (final)
Blend
$2.12M
Owner & transaction history
Muller Realty III LLC · 11 yrs held
Muller Realty III LLC
since 2015
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.5M
+34.7%
Commercial (general)
$2.7M
+3.8%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$2,600,000
Current use
OFFICE BUILDING
$3,500,000
Change: +35% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,700,000
Change: +4% · Conversion: Moderate
RESTAURANT
$2,540,000
Change: -2% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,520,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$2.12M
Range $1.91M – $2.33M · ±10%
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
$142 / 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
$149,663
Tax year 2023
Assessed value
$1,333,201
Assessed 2023
Previous assessed
$1,488,252
-10.4% YoY
Effective rate
11.23%
On assessed value
Assessed land
$864,914
Assessed improvement
$468,287
Land market value
$2,595,001
Improvement market value
$1,405,001
Total market value
$4,000,002
Applied tax rate
8,135.0000
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
Automotive properties
Use group
VEHICLE SALES, RENTALS
Status
Off-Market
Year built
1998
Construction
BRICK
Heating
NONE
Total area
14,880 SF
Lot
7.45 ac (324,522 SF)
APN
07-08-310-044
UPID
US28-1633172
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
AUTO REPAIR, GARAGE Current
Est. value
$2.6M
OFFICE BUILDING
Est. value
$3.5M
COMMERCIAL (GENERAL)
Est. value
$2.7M
RESTAURANT
Est. value
$2.5M
WAREHOUSE, STORAGE
Est. value
$2.5M
AUTO REPAIR, GARAGE Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
WAREHOUSE, STORAGE
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
1998
Construction
BRICK
Heating
NONE
Lot
7.45 ac
Current owner
From public records · entity-resolved
Muller Realty III LLC
Entity
Mailing address
550 SKOKIE VLY RD, HIGHLAND PARK, IL 60035-4412
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 6, 2015
$6,500,000
Muller Realty III LLC
Rosen Real Estate INC
Warranty Deed
$5,200,000 · First Bk/highland Park
—
—
Rosen Real Estate INC
—
Deed Of Trust
related
$4,400,000 · Fifth Third Bank
—
—
Rosen Real Estate INC
—
Deed Of Trust
related
$3,650,000 · Bmo Harris Bank
—
—
Rosen Motor Sales INC
—
Deed Of Trust
related
$4,400,000 · Fifth Third Bank
—
—
Rosen Real Estate INC
—
Deed Of Trust
related
$3,800,000 · American Honda Finance Corp
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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