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    Vintage Office Building Near Metra Title is generated by Realmo AI

    108 N Walkup Ave, Crystal Lake, IL

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    Two-story office building near Metra station available for lease.

    Type:OFFICE
    Property size:
    2,288 SF
    Lot size:
    8,388.61 Acres
    Price / SF:
    $218/SF
    Added:
    Sep 23, 2025
    Days on Market:
    236
    Last Refresh:
    Apr 5 at 10:40 pm

    Property Features for 108 N Walkup Ave

    General Information

    Standard status
    Active
    Size
    2,288 SF
    Lot size
    8,388.61 Acres
    Property subtype
    OFFICE

    Properties For Sale

    at 108 N Walkup Ave Contact us

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    Listing Contact
    Bruce Kaplan
    Bruce Kaplan

    Listing agent Bruce Kaplan License #475183911

    Listing office Premier Commercial Realty

    Listing date Sep 23, 2025

    Source Moodyscre

    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 Premier Commercial Realty

    HighLights

    • Close proximity to Crystal Lake Metra commuter station.
    • R‑O (Residential/Office) zoning allows either or both uses.
    • 2,288 SF two‑story vintage office building.
    • Includes a 2‑car garage with walkup loft (with purchase only).
    • Half‑acre site with 8 paved parking spaces.
    • Basement for storage.

    Overview

    This two-story vintage office building offers 2,288 square feet of space. The property is located near the Crystal Lake Metra commuter station and within walking distance of the downtown business district. The layout includes offices, conference rooms, and bathrooms on both floors. A basement provides storage space. The property features 200 amp circuit breakers. The half-acre site includes a two-car garage with a walk-up loft. There are 8 paved parking spaces available. Zoned R-O (Residential/Office), the property allows for either or both uses. It will be available starting 10/1.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $350.5K
    NOI $31,548 @ 9.00% cap · cautious / downside scenario
    Moderate
    $450.7K
    NOI $31,548 @ 7.00% cap · market / base-case scenario
    Aggressive
    $631.0K
    NOI $31,548 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
    Calculated for Office B

    Component $ $/SF
    Gross rent $56.0k $24.48
    − Vacancy −$13.9k −$6.10
    EGI $42.1k $18.38
    − OpEx −$10.5k −$4.60
    NOI $31.5k $13.79
    2,288 SF · lease $24.48/SF/yr · vacancy 24.90% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $450.7K
    $394.4K – $525.8K (±1% cap)
    NOI $31,548 @ 7.0% cap · market cap 6.32%
    Second Best
    no second resolved use
    Theoretical Best
    Office A
    $789.9K
    $691.2K – $921.6K (±1% cap)
    NOI $55,296 @ 7.0% cap · market cap 11.08%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Building Supply Gym & Fitness Center Big Box & Wholesale Store Accounting Firm Hotel & Motel Bar & Pub Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Crystal Lake
    County
    McHenry
    State
    Illinois
    Longitude
    -88.3142
    Latitude
    42.2732

    FAQs

    What type of property is this?
    Office building - Two-story office building near Metra station available for lease.
    Where is this office building located?
    The property is located at 108 N Walkup Ave Crystal Lake, IL.
    What is the asking price?
    The asking price for this property is $499,000.
    What are key features of this property?
    This property features: Close proximity to Crystal Lake Metra commuter station.; R‑O (Residential/Office) zoning allows either or both uses.; **2,288 SF two‑story vintage office building.**
    (847) 854-2300 Call to check price and availability
    More about this property
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