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Property profile & analytics
OFF-MARKET
Estimated value
$4,700,000
Warehouses
924 Sherwood Dr, Lake Bluff, IL 60044-2204
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US28-5337739
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1979
Construction
BRICK
Total area
30,602 SF
Lot
3.19 ac (139,087 SF)
APN
12-19-404-018
UPID
US28-5337739
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
$5.46M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.48M
Blend (final)
Blend
$4.70M
Owner & transaction history
Wes 924 Sherwood Drive LLC · 2 yrs held
Wes 924 Sherwood Drive LLC
since 2023
Last sale
$4.6M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.6M
+114.5%
Auto repair, garage
$5.4M
+106.6%
Restaurant
$5.2M
+101.7%
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 Bluff submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Bluff 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
$5,335,000
ML approach
$5,455,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,555,000
Change: +115% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,350,000
Change: +107% · Conversion: Easy
RESTAURANT
$5,220,000
Change: +102% · Conversion: Difficult
RETAIL STORES
$3,895,000
Change: +50% · Conversion: Moderate
OFFICE BUILDING
$3,705,000
Change: +43% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,425,000
Change: +32% · Conversion: Difficult
Blend value · Realmo final
$4.70M
Range $4.23M – $5.17M · ±10% · vs last sale $4.55M (Sep 22 2023)
Last sale anchor
$4.55M
Sep 22 2023
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
$154 / 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
$104,274
Tax year 2023
Assessed value
$1,576,845
Assessed 2023
Previous assessed
$1,474,028
+7.0% YoY
Effective rate
6.61%
On assessed value
Assessed land
$324,328
Assessed improvement
$1,252,517
Land market value
$973,081
Improvement market value
$3,757,927
Total market value
$4,731,008
Applied tax rate
10,011.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1979
Construction
BRICK
Heating
NONE
Buildings
2
Total area
30,602 SF
Lot
3.19 ac (139,087 SF)
APN
12-19-404-018
UPID
US28-5337739
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
$5.6M
AUTO REPAIR, GARAGE
Est. value
$5.4M
RESTAURANT
Est. value
$5.2M
RETAIL STORES
Est. value
$3.9M
OFFICE BUILDING
Est. value
$3.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.4M
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RESTAURANT
RETAIL STORES
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
1979
Construction
BRICK
Heating
NONE
Buildings
2
Lot
3.19 ac
Current owner
From public records · entity-resolved
Wes 924 Sherwood Drive LLC
Entity
Mailing address
33 STONE GATE LN, LAKE FOREST, IL 60045-2412
Ownership since
2023
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
Sep 22, 2023
$4,550,000
Wes 924 Sherwood Drive LLC
Dormakaba USA INC
Special Warranty Deed
$3,450,000 · Old National 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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