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

    303 E Park Ave, Unit 104 Libertyville, IL 60048

    Sponsored
    For Lease
    Contact for pricing

    COMMERCIAL - Libertyville, IL

    Type:Office
    Days on Market:
    174
    Last Refresh:
    Feb 27 at 4:06 pm

    Property Features for 303 E Park Ave

    General Information

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

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1974
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Wood
    Building materials
    Brick

    We can help!

    Listing Contact
    Desi Zamora

    HomeSmart Connect Real Estate

    Listing agent Desi Zamora (847) 443-3700

    Listing date Sep 7, 2025

    MLS# 11875603

    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

    Professional Office Space in Libertyville

    This turn-key professional office space is available for lease in downtown Libertyville, Illinois. The space is suitable for medical, legal, or other professional uses. The unit features three private offices, plus one extra-large room that can serve as an executive room or conference room. It includes a receptionist desk, kitchenette, and two washrooms. A large parking lot is available for clients and customers. The property is within walking distance of downtown shops and restaurants. The zoning is OFFIC.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    GreenTree Animal Hospital, Estrick Sara DVM

    Location Insight

    • Map
    • Local Demand
    City
    Libertyville
    County
    Lake
    State
    Illinois
    Longitude
    -87.9449
    Latitude
    42.2938

    Nearby Similar for Lease

    • New
      $12 SF/Yr

      Professional Office Space Available

      High-visibility office building with ample parking in Libertyville, Illinois.
      1113 S Milwaukee Ave, Libertyville, IL 60048
      View Details
    • Contact for pricing
      41,382 SF

      Libertyville Office Building For Rent

      Professional office building in high-traffic area with available spaces.
      1113 S Milwaukee Ave, Libertyville, IL 60048
      View Details
    • Contact for pricing

      Professional Office Space Available

      High-visibility Libertyville office space with lease incentives.
      1113 S Milwaukee Ave, Libertyville, IL 60048
      View Details
    • Contact for pricing

      Luxury Office Sublet in Libertyville

      Contemporary office space available for sublet in Libertyville, Illinois.
      915 Milwaukee Ave, Libertyville, IL 60048
      View Details
    • New
      Contact for pricing

      Retail/Office Space in Libertyville

      Storefront retail or office/medical space on busy Milwaukee Ave.
      1200 N Milwaukee Ave, Libertyville, IL 60048
      View Details
    • Contact for pricing
      47,916 SF

      Industrial Space in Libertyville

      Industrial space in the heart of Lake County, close to downtown.
      325 4Th St, Libertyville, IL 60048
      View Details
    • Contact for pricing

      IL, Libertyville - S Milwaukee

      Workspaces, services and support to help you work better in Frisco Square
      611 Milwaukee Ave, Libertyville, IL 60048
      View Details
    • Sponsored
      Contact for pricing

      IL, Libertyville - Winchester Rd

      Discover many ways to work your way in Greenwich
      1870 Winchester Rd, Libertyville, IL 60048
      View Details
    • $22 SF/Yr

      287 Peterson Rd, Libertyville, IL - 60048 - Lease

      Prime Corner Office / Retail / Commercial Property with Exceptional Visibility
      287 Peterson Rd, Libertyville, IL 60048
      View Details
    • Contact for pricing
      11,604 SF

      Retail Space in Win-Mil Point

      Retail spaces for lease in Libertyville, Illinois with high visibility.
      1015-1047 North Milwaukee Ave, Libertyville, IL 60048
      View Details
    • $22 SF/Yr
      1,353 SF

      Medical Space in Libertyville

      1,353 SF fully built-out medical space for lease.
      1742-1768 N Milwaukee Ave, Libertyville, IL 60048
      View Details
    • Contact for pricing
      6,800 SF

      Retail Storefront in Downtown Libertyville

      1,700 SF retail space in a high-traffic downtown location.
      406-408 N Milwaukee Ave, Libertyville, IL 60048
      View Details

    FAQs

    What type of property is this?
    Medical office - Turn-key office space in downtown Libertyville, suitable for various uses.
    Where is this medical office located?
    The property is located at 303 E Park Ave, Unit 104 Libertyville, IL.
    What are key features of this property?
    This property features: - Walking distance to downtown shops and restaurants.; - Turn-key professional office space ready for immediate occupancy.; - Includes 3 private offices PLUS a large flexible room.
    (847) 495-5000
    Request Owner's contact information
    303 E Park Ave, Unit 104 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.
    303 E Park Ave, Unit 104
    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
    303 E Park Ave, Unit 104 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
    Desi Zamora
    Real Estate License ID: 475185050
    (847) 495-5000 (847) 443-3700
    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!