Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    111 Deer Lake Road Deerfield, IL 60015

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Office and flex suites available for lease in Deerfield, Illinois.

    Type:Office
    Property size:
    60,000 SF
    Added:
    Jan 27, 2026
    Days on Market:
    64
    Last Refresh:
    Mar 25 at 11:02 pm

    Property Features for 111 Deer Lake Road

    General Information

    Standard status
    Active
    Size
    60,000 SF
    Property subtype
    Office

    Building Details

    Year Built
    1988

    Properties For Sale

    at 111 Deer Lake Road Contact us

    We can help!

    Listing Contact
    Jason Wurtz

    Listing agent Jason Wurtz

    Listing office

    Listing date Jan 27, 2026

    Source Naiglobal

    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 Jason Wurtz

    Overview

    Office/Flex Suites in Deerfield, IL

    Available for lease are office and flex suites ranging from 7,500 to 26,737 square feet in Deerfield, Illinois. The space features long window-lines, attractive finishes, and high ceilings reaching 16 feet. The property offers convenient access to both I-94 and I-294. It is located within walking distance of the Deerfield Lake Cook Road Metra Station, as well as local amenities including restaurants and retail shopping. The building provides a parking ratio of approximately 4 spaces per 1,000 square feet. The property has low Lake County taxes.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Deerfield
    County
    Lake
    State
    Illinois
    Longitude
    -87.8438
    Latitude
    42.1555

    Nearby Similar for Sale

    • $3,850,000
      21,206 SF

      Former Therapy Day School Available

      21,206 SF building ideal for educational, medical, community use.
      1161 Lake Cook Rd, Deerfield, IL 60015
      View Details
    • $17
      26,367 SF

      Office Space Near Metra Station

      Office space with flexible floor plan and convenient transportation access.
      750 Estate Drive, Deerfield, IL 60015
      View Details
    • $26
      147,096 SF

      Deerfield Office Space Available

      Contiguous office space available near downtown Deerfield with highway access.
      1717 Deerfield Road, Deerfield, IL 60015
      View Details
    • $300,000

      Fully Equipped Restaurant on Milwaukee Avenue

      Turn-key Korean BBQ restaurant with high visibility and accessibility.
      1121 Milwaukee Avenue, Deerfield, IL 60015
      View Details
    • $3,150,000

      Retail Building in Deerfield, Illinois

      Retail building for sale, leased to a national tenant.
      700 Deerfield Rd | Deerfield, IL 60015, IL 60015
      View Details
    • Contact for pricing
      428 SF

      Jewel-Osco Anchored Shopping Center

      Retail property in affluent North Shore community with value-add opportunities.
      110 S Waukegan Rd | Deerfield, IL 60015, IL 60015
      View Details
    • Contact for pricing
      4,586 SF

      Restaurant Building Near Metra Station

      4,586 SF restaurant building with drive-thru near Metra station.
      663 Lake Cook Rd, Deerfield, IL
      View Details
    • Contact for pricing
      106,000 SF

      Renovated Office Building in Deerfield

      Updated office building with extensive amenities and convenient transportation access.
      10 Parkway N, Deerfield, IL
      View Details

    FAQs

    What type of property is this?
    Office units - Office and flex suites available for lease in Deerfield, Illinois.
    Where is this office units located?
    The property is located at 111 Deer Lake Road Deerfield, IL.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Flexible office/flex suites available, ranging from 7,500 to 26,737 SF.; Convenient access to I‑94 & I‑294.; Walking distance to Deerfield Lake Cook Road Metra Station.
    (630) 693-0692
    We can help!
    Listing Contact
    Jason Wurtz
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!