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Property profile & analytics
OFF-MARKET
Estimated value
$1,585,000
Investment properties
720 Milwaukee Ave Gurnee, IL 60031-2612
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US28-2178224
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1968
Construction
BRICK
Total area
11,280 SF
Lot
1 ac (43,560 SF)
APN
07-14-300-049
UPID
US28-2178224
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
-
ATM Atm
-
Primo Italian American Cuisine Restaurant
-
State Farm Car Insurance Financial Advisor Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.80M
Comparable Approach
Comparable
$1.65M
Blend (final)
Blend
$1.59M
Owner & transaction history
Red Crown Investments LLC · 1 yrs held
Red Crown Investments LLC
since 2025
7 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 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%
$1,945,000
6.5%
$1,795,000
7%
$1,670,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,045,000
Current use
AUTO REPAIR, GARAGE
$1,970,000
Change: -4% · Conversion: Difficult
RESTAURANT
$1,925,000
Change: -6% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,910,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$1.59M
Range $1.43M – $1.74M · ±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
$141 / 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
$45,661
Tax year 2023
Assessed value
$436,819
Assessed 2023
Previous assessed
$454,369
-3.9% YoY
Effective rate
10.45%
On assessed value
Assessed land
$26,049
Assessed improvement
$410,770
Land market value
$78,155
Improvement market value
$1,232,433
Total market value
$1,310,588
Applied tax rate
8,001.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1968
Construction
BRICK
Heating
NONE
Total area
11,280 SF
Lot
1 ac (43,560 SF)
APN
07-14-300-049
UPID
US28-2178224
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) Current
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$2.0M
RESTAURANT
Est. value
$1.9M
WAREHOUSE, STORAGE
Est. value
$1.9M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
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
1968
Construction
BRICK
Heating
NONE
Lot
1 ac
Current owner
From public records · entity-resolved
Red Crown Investments LLC
Entity
Mailing address
36938 N KIMBERWICK LN, WADSWORTH, IL 60083-9590
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 10, 2025
—
Christian M Khayat
—
Deed
related
$2,500,000 · New Crown Holdings LLC
May 20, 2025
$8,500
Red Crown Investments LLC
Christian Khayat
Special Warranty Deed
—
Jul 15, 2019
—
Christian M Khayat
—
Grant Deed
related
$1,153,000 · Somercor 504
Jun 7, 2019
—
Christian M Khayat
—
Grant Deed
related
$1,120,000 · Home St Bk
May 15, 2018
—
Christian M Khayat
—
Deed
related
$250,000 · Home State Bank NA
Apr 27, 2015
—
Christian M Khayat
—
Trustees Deed
related
$300,000 · Home St Bk
Jan 20, 2006
—
Christian Khayat
Russell,mary A
Quit Claim Deed
related
—
Nov 16, 2000
—
Christian Khayat
—
Deed Of Trust
related
$1,400,000 · Northside Community Bank
Oct 1, 1998
$18,000
Christian M Khayat
Khayat,mark C & Lia
Quit Claim Deed
related
—
—
—
Christian M Khayat
—
Deed Of Trust
related
$1,720,000 · Home State Bank
—
—
Christian Khayat
—
Deed Of Trust
related
$500,000 · Northside Community Bank
—
—
Christian M Khayat
—
Deed Of Trust
related
$1,158,837 · Northside Community Bank
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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