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    417-429 Temple Ave Highland Park, IL 60035

    View on Map
    Sponsored
    For Sale
    Under Contract
    $1,600,000

    COMMERCIAL - Highland Park, IL

    Property size:
    36,438 SF
    Lot size:
    0.84 Acres
    Days on Market:
    50
    Last Refresh:
    Mar 25 at 8:06 am

    Property Features for 417-429 Temple Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active Under Contract
    Zoning
    COMMR
    APN
    16143010190000
    Size
    36,438 SF
    Lot size
    0.84 Acres

    Utilities

    Utilities
    Water Available
    Cooling system
    Central Air

    Building Details

    Year built
    1920
    Floors in Building
    2
    Number of units
    3
    Building materials
    Brick, Wood, Vinyl Siding

    We can help!

    Listing Contact
    Brandon Kurdziel

    United Real Estate-Chicago

    Listing agent Brandon Kurdziel

    Listing date Feb 3, 2026

    MLS# 11405854

    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

    Mixed-Use Development Site Opportunity

    This is an opportunity to develop a 36,438 square foot mixed-use development site. The site consists of four parcels that have not been offered for sale in generations. The property is located next to downtown Highwood, Illinois, in Highland Park, bordering Highwood. Two parcels on Temple Avenue, totaling 21,902 square feet, are zoned B1A Waukegan-Bloom Neighborhood District and have 100 feet of frontage on Temple Avenue. The other two parcels connect in the rear and have frontage on Walker Avenue. These parcels are zoned RM1 Medium to High Density Multi-family, adding an additional 14,626 square feet. A brick commercial building at 429 Temple Avenue is built out for restaurant use, featuring a large seating room and bar, a large kitchen, and a cooler on the first floor. The second floor includes another dining room, two private rooms, a second kitchen, a butler pantry, and office space. The property has hoods and black iron. At 417 Temple Avenue, there is a frame single-family home in need of repairs, currently used for storage. It has four bedrooms, one and a half baths, a large living room, a formal dining room, and a kitchen. The Temple Avenue property also includes a large gravel parking lot, driveway, and a four-car garage. The Walker Avenue property has a single-family home with a tenant paying under market rents. The total lot size is 0.8365 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant 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
    Highland Park
    County
    Lake
    State
    Illinois
    Longitude
    -87.8078191
    Latitude
    42.2022079

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    FAQs

    What type of property is this?
    Mixed-use property - 36,438 SF mixed-use development site near downtown Highwood, IL.
    Where is this mixed-use property located?
    The property is located at 417-429 Temple Ave Highland Park, IL.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: - 36,438 SF mixed-use development site opportunity.; - Favorable zoning (B1A and RM1) for diverse development options.; - Prime location bordering downtown Highwood, IL.
    (708) 288-8241
    Request Owner's contact information
    417-429 Temple Ave Highland Park, IL 60035
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    Highland Park, IL 60035
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    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
    417-429 Temple Ave Highland Park, IL 60035
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    We can help!
    Listing Contact
    Brandon Kurdziel
    Real Estate License ID: 475143706
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