Office Units with Flexible Lower-Level
New
For Sale
$784,999
1017/1019 W Park Avenue, Libertyville, IL 60048
Two office addresses offer private rooms, open work areas, and optional additional space below grade.
Property Size5,000 SF
Price / SF$156
Days on Market7
Property Features for 1017/1019 W Park Avenue
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Commercial
Zoning
OFFIC
Additional Details
Floor
Main Level
Office Units
3
Property Use
Office
Taxes and HOA fees
Annual Taxes
$20,525
Building Details
Building Size
5,000 SF
Year Built
1995
Stories
1
Units
2
Listing Agency:
RE/MAX Top Performers
Listed By:
Jane Lee · License #471004433
(847) 295-0800
Source:
Fishmangroup
Added: Oct 23
Changed: Oct 26
Last Checked: Oct 26 at 3:48AM
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
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Investment Insights
Based on property information with market context.
At 1017 and 1019 W Park Avenue, two office units provide approximately 2,500 square feet apiece on the main level. Optional lower-level areas add approximately 2,500 square feet per unit, for as much as 10,000 square feet combined. Zoning is OFFIC, and the building dates to 1995.
Unit 1017 is arranged as two suites linked by a hallway with two private restrooms. One suite has reception and waiting areas, four private offices, and a large storage closet; the other includes reception, two private offices, and open office space. Unit 1019 features three private offices, open workspace with cubicle areas, high ceilings, and a private restroom.
The property is in a Libertyville business park, set just off a main road and near major thoroughfares. Downtown Libertyville is a short drive away, and parking is available on site.
Unit 1017 is arranged as two suites linked by a hallway with two private restrooms. One suite has reception and waiting areas, four private offices, and a large storage closet; the other includes reception, two private offices, and open office space. Unit 1019 features three private offices, open workspace with cubicle areas, high ceilings, and a private restroom.
The property is in a Libertyville business park, set just off a main road and near major thoroughfares. Downtown Libertyville is a short drive away, and parking is available on site.
Key Highlights
- Two units provide approximately 2,500 SF each on the main level; optional lower levels add approximately 2,500 SF per unit, up to 10,000 SF total
- Unit 1017 contains two suites, four private offices in one suite, and two in the other
- Unit 1017 has two private restrooms, reception and waiting areas, and a large storage closet
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.
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Current Use
Lease Details
3
Office units
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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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Two office addresses offer private rooms, open work areas, and optional additional space below grade.
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 units provide approximately 2,500 SF each on the main level; optional lower levels add approximately 2,500 SF per unit, up to 10,000 SF total; Unit 1017 contains two suites, four private offices in one suite, and two in the other; Unit 1017 has two private restrooms, reception and waiting areas, and a large storage closet
