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    197 Peterson Rd Libertyville, IL 60048

    For Sale
    $1,599,000

    Commercial Sale - Libertyville, IL

    Property size:
    13,398 SF
    Days on Market:
    29
    Last Refresh:
    Dec 15 at 9:06 am

    Property Features for 197 Peterson Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    COMMR
    APN
    11084030091000
    Size
    13,398 SF

    Utilities

    Cooling system
    Central Air, Multi Units, Window Unit(s)

    Building Details

    Year built
    1999
    Number of units
    5
    Architectural style
    Other

    Helen Oliveri Real Estate (847) 967-0022 [email protected]

    Listing agent Helen Oliveri (847) 967-0022 License #471001015

    Listing date Nov 17, 2025

    MLS# 12519072 Listing URL

    Copyright © 2025 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.

    Overview

    Versatile Commercial Property in Libertyville

    This commercial property is located in a thriving business corridor, offering excellent visibility and high traffic. The well-maintained site is strategically located, surrounded by established retail, dining, and service destinations. It is suitable for investors, owner-operators, or businesses seeking expansion, and provides the flexibility and functionality needed to support a wide range of commercial uses. The property features 5 individual units suitable for retail, service or office. It includes 38 dedicated parking spots, providing ample capacity for customers, staff, and deliveries, and 11 drive-in bays, perfect for automotive services, logistics, warehousing, or other vehicle-accessible operations. The property is located close to the expressway, offering easy regional access and strong commuter traffic. With its combination of flexible unit layouts, generous parking, and drive-in capability, this property is designed to accommodate a range of tenants or a multi-use owner-occupant strategy. The strong neighboring commercial presence enhances both daily traffic and long-term investment value. The property size is 13398 square feet. It is zoned COMMR. It is located in Libertyville, IL, in Lake County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Libertyville
    County
    Lake
    State
    Illinois
    Longitude
    -87.9645392
    Latitude
    42.305632

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    FAQs

    What type of property is this?
    Strip mall - Thriving commercial property with high visibility and traffic.
    Where is this strip mall located?
    The property is located at 197 Peterson Rd Libertyville, IL.
    What is the asking price?
    The asking price for this property is $1,599,000.
    What are key features of this property?
    This property features: - High traffic location with excellent visibility in a thriving business corridor.; - 38 dedicated parking spots.; - 11 drive-in bays suitable for various commercial uses.
    (847) 967-0022
    Request Owner's contact information
    197 Peterson Rd Libertyville, IL 60048
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    Libertyville, IL 60048
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    Realmo Value Estimation

    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.

    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.

    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
    197 Peterson Rd Libertyville, IL 60048
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