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Property profile & analytics
FOR LEASE
Warehouses
940 Northpoint Blvd, Waukegan, IL 60085
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US28-2201640
For Lease
1 / 2
$6 SF/Yr
940 Northpoint Blvd, Waukegan, IL 60085
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1996
Construction
BRICK
Total area
40,700 SF
Lot
2.98 ac (129,809 SF)
APN
07-25-402-016
UPID
US28-2201640
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
$4.40M
CAP Approach
CAP
$3.28M
Comparable Approach
Comparable
$2.92M
Blend (final)
Blend
$4.33M
Owner & transaction history
Hmc Chp 940 972 Northpoint LLC · 3 yrs held
Hmc Chp 940 972 Northpoint LLC
since 2022
Last sale
$4.2M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$7.1M
+70.7%
Restaurant
$6.8M
+62.7%
Apartment house (5+ units)
$4.6M
+9.3%
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 Waukegan submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waukegan 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
$4,450,000
ML approach
$4,400,000
CAP Approach
CAP Return
Estimation
6%
$3,545,000
6.5%
$3,275,000
7%
$3,040,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,170,000
Current use
AUTO REPAIR, GARAGE
$7,115,000
Change: +71% · Conversion: Easy
RESTAURANT
$6,780,000
Change: +63% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,555,000
Change: +9% · Conversion: Difficult
RETAIL STORES
$4,290,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$4.33M
Range $3.90M – $4.76M · ±10% · vs last sale $4.24M (Dec 16 2022)
Last sale anchor
$4.24M
Dec 16 2022
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
$106 / 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
$70,810
Tax year 2023
Assessed value
$590,931
Assessed 2023
Previous assessed
$573,719
+3.0% YoY
Effective rate
11.98%
On assessed value
Assessed land
$243,174
Assessed improvement
$347,757
Land market value
$729,595
Improvement market value
$1,043,375
Total market value
$1,772,970
Applied tax rate
8,022.0000
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
For Lease
Year built
1996
Construction
BRICK
Heating
NONE
Total area
40,700 SF
Lot
2.98 ac (129,809 SF)
APN
07-25-402-016
UPID
US28-2201640
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
WAREHOUSE, STORAGE Current
Est. value
$4.2M
AUTO REPAIR, GARAGE
Est. value
$7.1M
RESTAURANT
Est. value
$6.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.6M
RETAIL STORES
Est. value
$4.3M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
1996
Construction
BRICK
Heating
NONE
Lot
2.98 ac
Current owner
From public records · entity-resolved
Hmc Chp 940 972 Northpoint LLC
Entity
Mailing address
2625 BUTTERFIELD RD STE 213W, OAK BROOK, IL 60523-1205
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 16, 2022
$4,236,500
Hmc Chp 940 972 Northpoint LLC
1000 Northpoint Blvd LLC
Special Warranty Deed
$152,000 · First Horizon Bank
Dec 8, 2014
$3,100,000
1000 Northpoint Blvd LLC
1000 Northpoint Venture LLC
Grant Deed
$1,650,000 · Wheaton Bk&tr
Dec 17, 2003
—
1000 Northpoint Venture LLC
Cole Taylor Bank Trustee
Grant Deed
related
—
—
—
1000 Northpoint Venture LLC
—
Deed Of Trust
related
$3,800,000 · Sl Inv Holdings 2008-1 LLC
—
—
1000 Northpoint Venture LLC
—
Deed Of Trust
related
$3,150,000 · Private Bank & Trust Co
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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