Office Units with Private
For Sale
$784,999
1017/1019 W Park Avenue, Libertyville, IL 60048
Commercial Sale, Libertyville, IL
Property Size5,000 SF
Lot Size0.10 Acres
Price / SF$156
Days on Market17
Property Features for 1017/1019 W Park Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
OFFIC
Directions
RT. 176 (PARK AVE.) WEST TO UNIT
Subdivision
Green Oaks / Libertyville
Standard status
Active
APN
11202060230000
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
20526
Utilities
Utilities
Natural Gas Available
Cooling system
Central Air
Building Details
Year built
1995
Floors in Building
1
Number of units
2
Building materials
Brick
Roof type
Shake
Listing Agency:
RE/MAX Top Performers · RE/MAX International
Listed By:
Jane Lee
(847) 295-0800
Added: Oct 13
Last Checked: Oct 29 at 4:06PM
MLS# 12784424
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.
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Investment Insights
Based on property information with market context.
At 1017 and 1019 W Park Avenue, the office units provide approximately 2,500 square feet each on the main level. Each unit has an optional additional 2,500 square feet on the lower level, allowing for up to 10,000 square feet combined. The layouts include reception and waiting areas, private offices, open work areas, storage, and private restrooms. Unit 1017 is arranged as two suites connected by a hallway; Unit 1019 includes open-concept space with cubicle areas. The building was constructed in 1995, has brick construction and central air, and is zoned OFFIC.
Key Highlights
- Two office units, each with approximately 2,500 SF on the main level
- Optional lower‑level space adds approximately 2,500 SF per unit, for up to 10,000 SF total
- Unit 1017 includes two suites, four private offices in one suite, and two in the other
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
Who owns this building?
See the owner, sales and loan history
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
Frequently Asked Questions
What type of property is this?
Office unit - The two units combine reception areas, enclosed offices, and open work areas.
Where is this office unit located?
The property is located at 1017/1019 W Park Avenue 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: Two office units, each with approximately 2,500 SF on the main level; Optional lower‑level space adds approximately 2,500 SF per unit, for up to 10,000 SF total; Unit 1017 includes two suites, four private offices in one suite, and two in the other
