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Property profile & analytics
OFF-MARKET
Estimated value
$900,000
Strip malls
7010 Grand Ave, Gurnee, IL 60031-6600
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US28-1726987
Property summary
AI-generated overview
This 1,901 square foot retail space is available for lease at 7010 Grand Avenue in Gurnee, Illinois, within a multi-tenant building totaling 12,000 square feet. Built in 1993, the property boasts a prime location on the heavily trafficked Grand Avenue commercial corridor, boasting 32,900 vehicles per day. This storefront offers excellent visibility and accessibility. The property is situated approximately one mile west of the Gurnee Mills Shopping Center and two miles west of Interstate-94, providing convenient access for customers and employees. Strong co-tenancy includes established businesses such as Firestone, Tropical Smoothie Cafe, and Jimano's Pizza. The area is densely populated with numerous retail options, including Walmart, Jewel-Osco, Target, Sam's Club, TJ Maxx, Binny's, Mariano's, The Great Escape, Ross Dress for Less, Burlington, Starbucks, Panda Express, McDonald's, Noodles & Company, Einstein Bros Bagels, Panera Bread, Chili's, Five Guys, Outback Steakhouse, Denny's, Chase Bank, and First American Bank. This location presents a significant opportunity for businesses seeking high visibility and a strong customer base in a thriving retail environment. The property is located in Lake County, Illinois, with a zip code of 60031.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1998
Construction
BRICK
Total area
4,938 SF
Lot
0.7 ac (30,309 SF)
APN
07-08-310-045
UPID
US28-1726987
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
-
Firestone Complete Auto Care (Bike/Boat/Book/etc) Store Auto Parts Store
-
Tropical Smoothie Cafe Specialty Food Shop (Bike/Boat/Book/etc) Store
-
Jimano's Pizzeria Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$900k
Owner & transaction history
Hk 7010 Grand LLC · 3 yrs held
Hk 7010 Grand LLC
since 2022
1 recorded transaction
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 Gurnee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gurnee submarket · NOI estimate · typical band, median & reading
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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.
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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
COMMERCIAL (GENERAL)
$705,000
Change: 0% · Conversion: Easy
Blend value · Realmo final
$900k
Range $810k – $990k · ±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
$182 / 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
$21,398
Tax year 2023
Assessed value
$258,931
Assessed 2023
Effective rate
8.26%
On assessed value
Assessed land
$108,833
Assessed improvement
$150,098
Land market value
$326,532
Improvement market value
$450,339
Total market value
$776,871
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1998
Construction
BRICK
Heating
NONE
Total area
4,938 SF
Lot
0.7 ac (30,309 SF)
APN
07-08-310-045
UPID
US28-1726987
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
COMMERCIAL (GENERAL)
Est. value
$705,000
COMMERCIAL (GENERAL)
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
0.7 ac
Current owner
From public records · entity-resolved
Hk 7010 Grand LLC
Entity
Mailing address
180 N MICHIGAN AVE STE #300, CHICAGO, IL 60601-5932
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 24, 2022
—
Hk 7010 Grand LLC
—
Deed
related
$375,000 · Wintrust Bank NA
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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