Professional Office Suites with Private
For Sale
$799,000
1017/1019 W Park Avenue, Libertyville, IL 60048
Two professionally maintained office suites with private restrooms, offering main-level space plus optional lower-level expansion.
Property Size5,000 SF
Price / SF$159.80
Days on Market166
Property Features for 1017/1019 W Park Avenue
General Information
Standard status
Active
Size
5,000 SF
Property subtype
COMMERCIAL
Additional Details
Floor
Main Level
Road Access
Yes
Building Details
Building Size
5,000 SF
Year Built
1995
Listing Agency:
RE/MAX Top Performers
(847) 295-0800
Listed By:
Jane Lee · License #471004433
Source:
Realtorjamie
Added: Feb 17
Changed: Jul 30
Last Checked: Aug 2 at 11:57AM
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.
1017 and 1019 W Park Avenue presents professional office suites in a professionally maintained building with ample parking. Units 1017 and 1019 each provide approximately 2,500 SF on the main level, with optional additional space of approximately 2,500 SF each available on the lower level, for up to 10,000 SF of combined workspace.
Unit 1017’s main floor is divided into two separate suites connected by a hallway, with two private restrooms. Suite A includes a reception area, waiting room, four private offices, and a large storage closet. Suite B features a spacious open office environment with a reception area and two private offices. Unit 1019 includes soaring ceilings, three private offices, and an expansive open-concept workspace with multiple cubicle areas, also supported by private restrooms.
Built in 1995, the property is located just off the main road in a Libertyville business park, only minutes from downtown and close to major thoroughfares.
Unit 1017’s main floor is divided into two separate suites connected by a hallway, with two private restrooms. Suite A includes a reception area, waiting room, four private offices, and a large storage closet. Suite B features a spacious open office environment with a reception area and two private offices. Unit 1019 includes soaring ceilings, three private offices, and an expansive open-concept workspace with multiple cubicle areas, also supported by private restrooms.
Built in 1995, the property is located just off the main road in a Libertyville business park, only minutes from downtown and close to major thoroughfares.
Key Highlights
- Up to 10,000 SF combined workspace with main‑level space plus optional lower‑level expansion
- Units 1017 and 1019 each have approx 2,500 SF on the main level and optional approx 2,500 SF on the lower level
- Unit 1017 main floor divided into two suites connected by a hallway with two private restrooms
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $122.4k | $24.48 |
| − Vacancy | −$30.5k | −$6.10 |
| EGI | $91.9k | $18.38 |
| − OpEx | −$23.0k | −$4.60 |
| NOI | $68.9k | $13.79 |
5,000 SF · lease $24.48/SF/yr · vacancy 24.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$984.9K
$861.8K – $1.15M
NOI $68,942 @ 7.0% cap · market cap 8.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.51M – $2.01M
NOI $120,839 @ 7.0% cap · market cap 15.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
238
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two professionally maintained office suites with private restrooms, offering main-level space plus optional lower-level expansion.
Where is this office units 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 $799,000.
What are key features of this property?
This property features: Up to 10,000 SF combined workspace with main‑level space plus optional lower‑level expansion; Units 1017 and 1019 each have approx 2,500 SF on the main level and optional approx 2,500 SF on the lower level; Unit 1017 main floor divided into two suites connected by a hallway with two private restrooms
