Professional Office Units with Flexible
For Sale
$784,999
1017 /1019 W Park Ave, Libertyville, IL 60048
Main-level suites include private offices, open work areas, reception spaces, and restrooms.
Property Size5,000 SF
Price / SF$156
Days on Market87
Property Features for 1017 /1019 W Park Ave
General Information
Standard status
Active
Size
5,000 SF
Additional Details
Floor
Main Level
Road Access
Yes
Office Units
2
Building Details
Year Built
1995
Listing Agency:
RE/MAX Top Performers
Listed By:
Jane Lee · License #471004433
(847) 295-0800
Source:
Tumpanelegacy
Added: Jul 20
Changed: Oct 2
Last Checked: Oct 7 at 2:05PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Top Performers
Investment Insights
Based on property information with market context.
Units 1017 and 1019 provide approximately 2,500 SF each on the main level within a professionally maintained office building. Together, the main-level suites total 5,000 SF and can be supplemented by an optional additional 2,500 SF per unit on the lower level, creating up to 10,000 SF overall.
Unit 1017 is arranged as two connected suites with reception and waiting areas, four private offices, two additional private offices, a collaborative open-office area, two private restrooms, and storage. Unit 1019 combines three private offices, multiple cubicle areas, a large open workspace, soaring ceilings, and private restrooms.
The property includes ample parking and is positioned just off the main road in a Libertyville business park. Downtown Libertyville and major thoroughfares are minutes away.
Unit 1017 is arranged as two connected suites with reception and waiting areas, four private offices, two additional private offices, a collaborative open-office area, two private restrooms, and storage. Unit 1019 combines three private offices, multiple cubicle areas, a large open workspace, soaring ceilings, and private restrooms.
The property includes ample parking and is positioned just off the main road in a Libertyville business park. Downtown Libertyville and major thoroughfares are minutes away.
Key Highlights
- Approximately 2,500 SF on the main level in each of Units 1017 and 1019
- Optional additional 2,500 SF per unit on the lower level; up to 10,000 SF total
- Unit 1017 includes two connected suites with reception areas, private offices, storage, and two restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,942
Cap Rate
8.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,378,840
$1.4M
Cap Rate 7%
$984,886
$984.9K
Cap Rate 9%
$766,022
$766.0K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$122.4K $24.48/SF
− Vacancy
−$30.5K −$6.10/SF
EGI
$91.9K $18.38/SF
− OpEx
−$23.0K −$4.60/SF
NOI
$68.9K $13.79/SF
Area
Lake County, IL
Vacancy
24.90%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,378,840
Cap Rate 7%
$984,886
Cap Rate 9%
$766,022
Alternative Uses
Best Use
Office B
$984.9K
$861.8K – $1.15M
NOI $68,942 @ 7.0% cap · market cap 8.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.51M – $2.01M
NOI $120,839 @ 7.0% cap · market cap 15.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
789
Businesses Nearby
Explore this area
Business Placement
Demographics for 60048, IL
29,353
Population
10,826
Households
2.7
Avg Household Size
44
Median Age
71%
College-Educated
98%
High-School Grad
28.4 sq mi
ZIP Area
1,034
Density / Sq Mi
$169,283
Median Household Income
$83,333
Median Earnings
$1,569
Median Rent
$535,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - Main-level suites include private offices, open work areas, reception spaces, and restrooms.
Where is this office units located?
The property is located at 1017 /1019 W Park Ave Libertyville, IL.
What is the asking price?
The asking price for this property is $784,999.
What are key features of this property?
This property features: Approximately 2,500 SF on the main level in each of Units 1017 and 1019; Optional additional 2,500 SF per unit on the lower level; up to 10,000 SF total; Unit 1017 includes two connected suites with reception areas, private offices, storage, and two restrooms
