Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Office Space for Lease Title is generated by Realmo AI

    18215 Dixie Highway, Homewood, IL 60430

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    COMMERCIAL - Homewood, IL

    Type:Office
    Added:
    Apr 21, 2026
    Days on Market:
    47
    Last Refresh:
    Jun 6 at 2:06 am

    Property Features for 18215 Dixie Highway

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    COMMR
    Standard status
    Active

    Taxes and HOA fees

    Tax Annual Amount
    16976

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1976
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Tile
    Building materials
    Brick
    Roof type
    Membrane

    We can help!

    Listing Contact
    Malinda Pennington

    Listing agent Malinda Pennington License #475201583

    Listing office Century 21 Circle 15812 S. Wolf Road, Oak Lawn, IL

    Listing date Apr 21, 2026

    MLS# 12624661

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Brick construction
    • Central air cooling
    • Tile flooring
    • Membrane roof
    • Built in 1976

    Overview

    This listing is for office space available for lease. The property is categorized as office space and other office property, positioned to serve general office operations. Specific building amenities, unit layout details, and condition information were not provided with this listing.

    The property is located at 18215 Dixie Highway in Homewood, Illinois 60430, in Cook County. The listing also notes zoning of COMMR, which may be relevant to tenant eligibility and permitted use requirements.

    For prospective tenants and brokers, this space may be a fit for office users seeking a COMMR-zoned location in Homewood. Because no suite size, configuration details, or improvement specifics were included in the provided information, interested parties should verify available space, operational requirements, and any zoning-related constraints during due diligence.
    Property Profile Location Intelligence

    Current Use by Public Records

    Care Cleaners (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Homewood
    County
    Cook
    State
    Illinois
    Longitude
    -87.6650847
    Latitude
    41.5586981

    Nearby Similar for Lease

    • Contact for pricing
      2,803 SF

      Retail Space in Homewood Center

      Retail suites available in high-traffic Homewood shopping center.
      17923 Halsted Street, Homewood, IL 60430
      View Details
    • Contact for pricing

      Freestanding Restaurant Building For Lease

      Second-generation restaurant building available for lease.
      17855 Halsted St | Homewood, IL 60430
      View Details
    • Contact for pricing

      Three-Story Office Building For Rent

      Well-maintained office building with convenient access and ample parking.
      905 175th St, Homewood, IL 60430
      View Details
    • Contact for pricing
      186,032 SF

      Retail Center Near Future Casino

      18.94-acre shopping center with high visibility and accessibility.
      17550 South Halsted Street, Homewood, IL, 60430
      View Details
    • Contact for pricing
      1,453 SF

      Retail Space Near Retail Corridor

      Retail space on busy Halsted Street near major retailers.
      17925 Halsted St, Homewood, IL
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail property available for lease.
      17920 South Halsted Street, Homewood, IL, 60430
      View Details
    • Contact for pricing

      Retail Space in Major Center

      Retail space available in a high-traffic power center.
      17920 S Halsted St, Homewood, IL 60430
      View Details
    • Contact for pricing
      2,366 SF

      Homewood Office Space For Rent

      Office space available in elevator building with excellent location.
      900 Ridge Rd, Homewood, IL
      View Details
    • Contact for pricing
      26,222 SF

      Retail Space Near Jewel-Osco

      Retail space shadow-anchored by Jewel-Osco in Homewood, Illinois.
      3055 183rd St, Homewood, IL
      View Details

    FAQs

    What type of property is this?
    Office space - Office space available for rent in Homewood, zoned COMMR, suitable for a range of office-focused uses.
    Where is this office space located?
    The property is located at 18215 Dixie Highway Homewood, IL.
    What are key features of this property?
    This property features: Brick construction; Central air cooling; Tile flooring
    (708) 398-6400
    We can help!
    Listing Contact
    Malinda Pennington
    Real Estate License ID: 475201583
    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.
    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
    18215 Dixie Highway, Homewood, IL 60430
    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!