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Property profile & analytics
OFF-MARKET
Commercial real estate
701 Milwaukee Ave, Vernon Hills, IL 60061-1556
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US28-2248764
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Lot
24.99 ac (1,088,434 SF)
APN
15-03-102-018
UPID
US28-2248764
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
A & J Vernon Hills LLC · 2 yrs held
A & J Vernon Hills LLC
since 2024
4 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 Vernon Hills submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Vernon Hills 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
$783,548
Tax year 2023
Assessed value
$8,456,981
Assessed 2023
Previous assessed
$8,424,127
+0.4% YoY
Effective rate
9.27%
On assessed value
Assessed land
$3,198,746
Assessed improvement
$5,258,235
Land market value
$9,597,198
Improvement market value
$15,776,282
Total market value
$25,373,480
Applied tax rate
16,028.0000
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
24.99 ac (1,088,434 SF)
APN
15-03-102-018
UPID
US28-2248764
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
Heating
NONE
Lot
24.99 ac
Current owner
From public records · entity-resolved
A & J Vernon Hills LLC
Entity
Mailing address
2700 W 50TH ST, CHICAGO, IL 60632-2004
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 8, 2024
$48,000,000
A & J Vernon Hills LLC
Irc Rivertree Court LLC
Special Warranty Deed
$29,500,000 · The Northern Trust Co
Dec 27, 2018
—
Irc Rivertree Court LLC
—
Loan Modification
related
$835,000,000 · Wells Fargo Bk
Nov 11, 1998
—
Inland Real Estate Column LLC
Inland Real Estate Corporation
Quit Claim Deed
related
$25,000,000 · Column Financial INC
—
—
Inland Rivertree Court LLC
—
Deed Of Trust
related
$22,000,000 · Equitrust Life Insurance Co
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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