Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    888 Belvidere Rd Ste, Unit 115 Grayslake, IL 60030-2570
    Back to Search
    Property profile & analytics

    888 Belvidere Rd Ste, Unit 115, Grayslake, IL 60030-2570

    View on Map
    • Office buildings
    • 1,625 SF
    • 0.04 lot acres
    Off-Market
    Last Sale Feb 4, 2022
    $148,000
    Property ID
    US28-2699378
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 888 Belvidere Rd Ste

    Year built
    1993
    Construction
    BRICK
    Lot size
    0.04 lot acres
    Property type
    Office buildings
    APN
    06-35-201-005
    APU
    635201005

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 4, 2022 $148,000 101 Center Street Partnership Politalia LLC Warranty Deed $750k · Northside Community Bank
    May 2, 2000 — Polltalia LLC Phillips Trust Grant Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Grayslake
    County
    Lake
    State
    Illinois
    Longitude
    -88.0256
    Latitude
    42.3385
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $4,286
    $3,494
    $34,112
    $37,606
    -
    $10,483
    $102,346
    $112,829

    Comparable in this City

    • Value Estimation
      $530,000
      6,016 SF

      1017 Progress Dr

      OFFICE BUILDING
      1017 Progress Dr, Grayslake, IL 60030-1672
      View Details
    • Value Estimation
      $515,000
      5,066 SF

      33125 Us Hwy 45

      OFFICE BUILDING
      33125 Us Hwy 45, Grayslake, IL 60030-3901
      View Details
    • Value Estimation
      $715,000
      5,330 SF

      229 Ctr St

      OFFICE BUILDING
      229 Ctr St, Grayslake, IL 60030-1534
      View Details
    • Value Estimation by Request
      3,192 SF

      618 Barron Blvd

      OFFICE BUILDING
      618 Barron Blvd, Grayslake, IL 60030-1328
      View Details
    • Value Estimation by Request
      6,970 SF

      142 Hawley St

      OFFICE BUILDING
      142 Hawley St, Grayslake, IL 60030-3653
      View Details
    • Value Estimation by Request
      1,625 SF

      888 Belvidere Rd Ste, Unit 124

      OFFICE BUILDING
      888 Belvidere Rd Ste, Grayslake, IL 60030-2570
      View Details

    Similar Nearby for Sale

    • $495,900
      743 SF

      Grayslake Commercial Suites For Sale

      Five office/retail suites with apartment in Grayslake, Illinois.
      33125 N Us 45 Hwy, Grayslake, IL 60030
      View Details
    • $495,900
      0.29 Acres

      Mixed-Use Building on Highway 45

      Versatile commercial/residential building in high-visibility Grayslake location.
      33125 N Us Highway 45, Grayslake, IL 60030
      View Details
    • Contact for pricing
      3,150 SF

      Grayslake Corner Location For Sale

      Prime corner location in downtown Grayslake with redevelopment potential.
      102-106 Center St, Grayslake, IL 60030
      View Details
    • $69,900
      0.40 Acres

      Grayslake Lot Near Highland Lake

      0.4 acre lot with lake access and park.
      34110 S Circle Dr, Grayslake, IL 60030
      View Details
    • Contact for pricing

      Grayslake Pad Ready Land

      30,500 square feet of general business zoned land.
      1886 E Belvidere Rd, Grayslake, IL 60030
      View Details
    • $629,900
      3,150 SF

      Grayslake Retail Corner Property

      High-traffic location, redevelopment potential
      102-106 Center St, Grayslake, IL 60030
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Professional Office Space Available

      Move-in ready office space in a professional building.
      115 Commerce Dr, Grayslake, IL 60030
      View Details
    • Contact for pricing
      765 SF

      Grayslake Retail-Office Space Available

      765 SF retail-office space in downtown Grayslake available for lease.
      136 Center St, Grayslake, IL 60030
      View Details
    • Contact for pricing
      30,056 SF

      Professional Office Space in Grayslake

      Move-in ready office space for professionals in a prime location.
      115 Commerce Dr, Grayslake, IL 60030
      View Details
    • Contact for pricing

      Flexible Office Space in Grayslake

      Adaptable office solutions in a convenient suburban location.
      100 N Atkinson Rd, Grayslake, IL 60030
      View Details
    • Contact for pricing

      Grayslake Commercial Space Available

      Office suites and storefronts available in Grayslake, Illinois.
      100 S Atkinson Rd, Grayslake, IL 60030
      View Details
    • Contact for pricing

      Grayslake Commercial Space Available

      Office suites and storefronts available in Grayslake, Illinois.
      100 S Atkinson Rd, Grayslake, IL 60030
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    888 Belvidere Rd Ste, Unit 115
    Grayslake, IL 60030-2570
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    888 Belvidere Rd Ste, Grayslake, IL, 60030
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!