Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    197 Peterson Rd, Unit 191-199 Libertyville, IL 60048

    View on Map
    Sponsored
    For Sale
    $1,599,000

    COMMERCIAL - Libertyville, IL

    Type:Retail
    Lot size:
    0.69 Acres
    Days on Market:
    5
    Last Refresh:
    Mar 24 at 2:06 pm

    Property Features for 197 Peterson Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Standard status
    Active
    Zoning
    COMMR
    APN
    11084030091000
    Lot size
    0.69 Acres

    Utilities

    Cooling system
    Window Unit(s), Central Air

    Building Details

    Year built
    1999
    Floors in Building
    1
    Number of units
    5
    Building materials
    Brick

    We can help!

    Listing Contact
    Helen Oliveri
    Helen Oliveri

    Helen Oliveri Real Estate

    Listing agent Helen Oliveri

    Listing date Mar 20, 2026

    MLS# 12519072

    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.

    Learn more

    Property Insight Report

    Overview

    Versatile Commercial Property in Libertyville

    This commercial property is located in a thriving business corridor. The site offers high traffic counts and is surrounded by established retail, dining, and service destinations. It is suitable for investors, owner-operators, or businesses seeking expansion. Sutton Plaza features 5 individual units suitable for retail, service or office use. The property has 38 dedicated parking spots and 11 drive-in bays, suitable for automotive services, logistics, warehousing, or other vehicle-accessible operations. It is located close to the expressway, offering regional access and commuter traffic. The property is designed to accommodate a range of tenants or a multi-use owner-occupant strategy. The neighboring commercial presence enhances daily traffic and long-term investment value. Located in Libertyville, IL, the property occupies a lot size of 0.6864 acres. The zoning is COMMR.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Shopping centers

    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.

    Similar Places Nearby

    Heritage press, Brookside, Peterson Commons

    Location Insight

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

    Nearby Similar for Sale

    • New
      $315,000
      3,000 SF

      Move-In Ready Office Suites

      Updated office condominium with private offices and common areas.
      28085 N Ashley Cir, Libertyville, IL 60048
      View Details
    • $799,000
      5,000 SF

      Premium Libertyville Office Space Available

      Upscale office suites in a prime Libertyville business park.
      1017/1019 W Park Ave, Libertyville, IL 60048
      View Details
    • $215,000

      Libertyville Office Space For Sale

      Office condo with flexible layout in Libertyville, Illinois.
      708 Florsheim Dr, Libertyville, IL 60048
      View Details
    • $168,000

      Libertyville Office Space Opportunity

      Large office space with versatile layout and highway access.
      14047 W Petronella Dr, Libertyville, IL 60048
      View Details
    • $1,500,000
      3.71 Acres

      Surgical Center Investment Opportunity

      Fully leased surgical center condo unit for sale.
      1870 W Winchester Rd, Libertyville, IL 60048
      View Details
    • $1,500,000
      0.71 Acres

      Retail Space in Downtown Libertyville

      2,000+ sq ft retail space in new building.
      121 W Church St, Libertyville, IL 60048
      View Details
    • $375,000

      Prime Libertyville Commercial Property

      High-visibility commercial property ideal for office or retail use.
      134 S Milwaukee Ave, Libertyville, IL 60048
      View Details
    • $750,000

      Contemporary Office Building with Parking

      Free-standing office building with parking in a high-visibility location.
      326 S Milwaukee Ave, Libertyville, IL 60048
      View Details
    • $699,900

      Turnkey Restaurant/Retail Building on Milwaukee

      Freestanding, remodeled commercial building suitable for restaurant or retail business.
      327 S Milwaukee Ave, Libertyville, IL 60048
      View Details
    • $285,000
      20,000 SF

      Move-In Ready Office Condominium

      Updated office condo with private offices and natural light.
      28045 Ashley Cir, Libertyville, IL 60048
      View Details
    • Contact for pricing

      Class A Medical Office Campus

      Two-building medical campus near Advocate Condell Medical Center.
      1800 Hollister Dr, Libertyville, IL 60048
      View Details
    • $5,200,000

      Libertyville Multifamily De-Conversion Opportunity

      32-unit multifamily property in Libertyville, Illinois, near I-94.
      375 West Winchester Rd, Libertyville, IL 60048
      View Details

    FAQs

    What type of property is this?
    Shopping center - Thriving commercial property with high visibility and flexible layouts.
    Where is this shopping center located?
    The property is located at 197 Peterson Rd, Unit 191-199 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-visibility location in a thriving business corridor with high traffic counts.; - 11 drive-in bays suitable for automotive services, logistics, or warehousing.; - 38 dedicated parking spots for customers, staff, and deliveries.
    (847) 967-0022
    Request Owner's contact information
    197 Peterson Rd, Unit 191-199 Libertyville, IL 60048
    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.
    197 Peterson Rd, Unit 191-199
    Libertyville, IL 60048
    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
    197 Peterson Rd, Unit 191-199 Libertyville, IL 60048
    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

    We can help!
    Listing Contact
    Helen Oliveri
    Helen Oliveri
    Real Estate License ID: 471001015
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!