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

    505 S La Grange Road La Grange, IL 60525

    View on Map
    For Lease
    $2,000 /Mo

    COMMERCIAL - La Grange, IL

    Type:Office
    Added:
    Feb 21, 2025
    Days on Market:
    403
    Last Refresh:
    Mar 31 at 11:06 pm

    Property Features for 505 S La Grange Road

    General Information

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

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1960
    Floors in Building
    2
    Number of units
    10
    Building materials
    Brick

    We can help!

    Listing Contact
    Rosalba Melendres

    Listing agent Rosalba Melendres License #475184680

    Listing office EXIT Strategy Realty 2935 N. Clark St., Chicago, IL

    Listing date Feb 21, 2025

    MLS# 12292568

    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.

    Overview

    Commercial Space in La Grange

    Commercial space is available for rent in La Grange, Illinois. The property is located at 505 S La Grange Road, in Cook County. The zoning is COMMR.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    La Grange
    County
    Cook
    State
    Illinois
    Longitude
    -87.8717
    Latitude
    41.7814

    Nearby Similar for Lease

    • Contact for pricing

      Downtown La Grange Retail/Office Space

      Flexible space in downtown La Grange, ideal for retail/office.
      106 W Burlington Avenue unit: 2, La Grange, IL 60525
      View Details
    • Contact for pricing

      Downtown La Grange Commercial Space

      Flexible second-floor space in downtown La Grange, ideal for various uses.
      106 W Burlington Avenue unit: 2, La Grange, IL 60525
      View Details
    • Contact for pricing

      Turnkey Nail Salon in LaGrange

      Nail salon in downtown La Grange with flexible layout.
      108 W Burlington Avenue unit: 2, La Grange, IL 60525
      View Details
    • Contact for pricing

      Downtown La Grange Professional Space

      Premium office/medical space in the heart of Downtown La Grange.
      110 1/2 W Burlington Avenue, La Grange, IL 60525
      View Details
    • Contact for pricing

      Creative Suite in La Grange

      Turn-key creative suite with unique amenities in downtown La Grange.
      110 W Burlington Avenue unit: Office, La Grange, IL 60525
      View Details
    • Contact for pricing

      Creative Suite in Downtown LaGrange

      Turn-key creative suite with unique perks in desirable location.
      110 W Burlington Avenue unit: Office, La Grange, IL 60525
      View Details
    • Contact for pricing

      High-Visibility Retail Space in Lagrange

      Prime retail space in vibrant downtown La Grange, Illinois.
      110 1/2 W Burlington Avenue, La Grange, IL 60525
      View Details
    • Contact for pricing

      La Grange Retail Opportunity

      Commercial retail space available for rent in La Grange, IL.
      505 S La Grange Road, La Grange, IL 60525
      View Details
    • $35/mo

      Prime Restaurant Space in LaGrange

      Restaurant space in downtown La Grange near Metra station.
      50 S La Grange Road, La Grange, IL 60525
      View Details
    • $35/mo

      Prime Restaurant Space in LaGrange

      Restaurant space in downtown La Grange near Metra station.
      La Grange, IL 60525
      View Details
    • $35/mo

      Prime Restaurant Space in LaGrange

      Restaurant space in downtown La Grange near Metra station.
      50 S Lagrnage Rd, La Grange, IL
      View Details

    FAQs

    What type of property is this?
    Office units - Commercial space for rent in La Grange, Illinois.
    Where is this office units located?
    The property is located at 505 S La Grange Road La Grange, IL.
    What is the lease rate?
    The lease rate is $2,000 /Mo.
    What are key features of this property?
    This property features: Brick Construction; Central Air Conditioning; Built in 1960
    (312) 493-0920
    We can help!
    Listing Contact
    Rosalba Melendres
    Real Estate License ID: 475184680
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!