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Property profile & analytics
OFF-MARKET
Estimated value
$5,050,000
Outlet malls
825 Waukegan Rd, Lake Forest, IL 60045-2696
Entity Owned
11-yr Hold
Free & Clear
Property ID
US28-1125014
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1989
Construction
BRICK
Total area
43,277 SF
Lot
1.11 ac (48,395 SF)
APN
16-07-201-001
UPID
US28-1125014
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
$6.81M
Comparable Approach
Comparable
$3.40M
Blend (final)
Blend
$5.05M
Owner & transaction history
Lfc Properties LLC · 11 yrs held
Lfc Properties LLC
since 2015
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$7.9M
+42.7%
Auto repair, garage
$7.6M
+37.4%
Restaurant
$7.4M
+34.1%
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 Lake Forest submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Forest 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%
$7,375,000
6.5%
$6,810,000
7%
$6,325,000
Alternative Use
Use
Estimation
RETAIL STORES
$5,505,000
Current use
COMMERCIAL (GENERAL)
$7,855,000
Change: +43% · Conversion: Easy
AUTO REPAIR, GARAGE
$7,565,000
Change: +37% · Conversion: Difficult
RESTAURANT
$7,385,000
Change: +34% · Conversion: Easy
OFFICE BUILDING
$5,240,000
Change: -5% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$4,845,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$5.05M
Range $4.55M – $5.56M · ±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
$117 / 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
$118,283
Tax year 2023
Assessed value
$2,943,716
Assessed 2023
Previous assessed
$1,971,145
+49.3% YoY
Effective rate
4.02%
On assessed value
Assessed land
$171,717
Assessed improvement
$2,771,999
Land market value
$515,203
Improvement market value
$8,316,829
Total market value
$8,832,032
Applied tax rate
17,025.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1989
Construction
BRICK
Heating
NONE
Buildings
2
Total area
43,277 SF
Lot
1.11 ac (48,395 SF)
APN
16-07-201-001
UPID
US28-1125014
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
RETAIL STORES Current
Est. value
$5.5M
COMMERCIAL (GENERAL)
Est. value
$7.9M
AUTO REPAIR, GARAGE
Est. value
$7.6M
RESTAURANT
Est. value
$7.4M
OFFICE BUILDING
Est. value
$5.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.8M
RETAIL STORES Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RESTAURANT
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1989
Construction
BRICK
Heating
NONE
Buildings
2
Lot
1.11 ac
Current owner
From public records · entity-resolved
Lfc Properties LLC
Entity
Free & Clear · 11 yrs held
Mailing address
777 CENTRAL AVE, HIGHLAND PARK, IL 60035-3240
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 30, 2015
—
Lfc Properties LLC
Trust 4653
Grant Deed
—
—
—
Rizzo,tr
—
Deed Of Trust
related
$444,000 · Success National Bank
—
—
Northern Trust Co
—
Deed Of Trust
related
—
—
—
Northern,tr
—
Deed Of Trust
related
—
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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