Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Glenview Retail/Office/Medical Space Available Title is generated by Realmo AI

    940 Harlem Avenue, Glenview, IL 60025

    View on Map
    Claim this Listing
    For Lease
    $25 SF/Yr

    High-traffic location suitable for retail, office, or medical use.

    Type:Commercial
    Added:
    May 1, 2025
    Days on Market:
    401
    Last Refresh:
    May 11 at 1:19 am

    Property Features for 940 Harlem Avenue

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1980

    We can help!

    Listing Contact
    PAUL TSAKIRIS
    PAUL TSAKIRIS

    Listing agent PAUL TSAKIRIS License #471005153

    Listing office FIRST WESTERN PROPERTIES

    Listing date May 1, 2025

    Source Corcoran

    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 FIRST WESTERN PROPERTIES

    HighLights

    • High traffic intersection location at Harlem and Glenview Road.
    • Located in a great neighborhood center in Glenview.
    • Next to US Bank and other national retailers.
    • Last remaining space in the center.
    • Space is suitable for retail, office, or medical use.
    • Built in 1980.

    Overview

    This space is located in a neighborhood center at the high-traffic intersection of Harlem Avenue and Glenview Road in Glenview. The space is currently configured as a retail clothing store, but it is suitable for office or medical use. The property is situated next to a US Bank and other national retailers. This is the last remaining space in the center.
    Property Profile Location Intelligence

    Current Use by Public Records

    Merci Consigner LLC Discount Store

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Glenview
    County
    Cook
    State
    Illinois
    Longitude
    -87.806
    Latitude
    42.0718

    Nearby Similar for Lease

    • Contact for pricing
      474 SF

      Glenview Office/Retail Space Available

      Professionally built-out office/retail space in Glenview's shopping district.
      1545 Waukegan Road, Glenview, IL 60025
      View Details
    • Contact for pricing
      2,000 SF

      Glenview Retail Space Available

      Combined front stores for lease in Glenview, approximately 2,000 sqft.
      214 Greenwood Road, Glenview, IL 60025
      View Details
    • Contact for pricing

      Glenview Office Space For Rent

      Professionally built-out office space in Glenview's shopping district.
      1545 Waukegan Road, Glenview, IL 60025
      View Details
    • Sponsored
      $129-$6,026/Mo
      11-1,292 SF

      Prairie Glen

      2700 Patriot Blvd, Unit 250, Glenview, IL 60026
      View Details
    • Contact for pricing

      Glenview Commercial Space For Rent

      Professionally built-out office/retail space in Glenview's shopping district.
      1545 Waukegan Road, Glenview, IL 60025
      View Details
    • $27 SF/Yr
      950 SF

      Glenview Retail Storefront for Lease

      Charming 950 SF retail space in downtown Glenview, IL.
      1709 Glenview Rd, Glenview, IL 60025
      View Details
    • $25 SF/Yr
      1,535 SF

      Glenview Retail Space Available

      Retail space for lease in well-maintained Glenview shopping center.
      958 Harlem Ave., Glenview, IL 60025
      View Details
    • Contact for pricing

      Retail Space in Glenview, IL

      Retail space available for rent in Glenview, Illinois.
      611 Milwaukee Avenue, Glenview, IL 60025
      View Details
    • $18 SF/Yr
      2,000 SF

      Combined Storefront Space Available

      2,000 sq ft storefront suitable for retail or professional use.
      214 Greenwood Road #2, Glenview, IL 60025
      View Details
    • $27 SF/Yr
      3,600 SF

      Glenview Retail Space For Lease

      Charming retail space in downtown Glenview, ideal for various businesses.
      1709 Glenview Rd, Glenview, IL 60025
      View Details
    • $10 SF/Yr
      1,365 SF

      Glenview Retail Space Available

      Retail spaces available in high-traffic Glenview location.
      771 Milwaukee Avenue, Glenview, IL 60025
      View Details
    • $10 SF/Yr
      1,365 SF

      Glenview Retail Space Available

      Retail spaces available in high-traffic Glenview location.
      775 Milwaukee Avenue, Glenview, IL 60025
      View Details

    FAQs

    What type of property is this?
    Retail space - High-traffic location suitable for retail, office, or medical use.
    Where is this retail space located?
    The property is located at 940 Harlem Avenue Glenview, IL.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    What are key features of this property?
    This property features: High traffic intersection location at Harlem and Glenview Road.; Located in a great neighborhood center in Glenview.; Next to US Bank and other national retailers.
    (773) 545-2000
    We can help!
    Listing Contact
    PAUL TSAKIRIS
    PAUL TSAKIRIS
    Real Estate License ID: 471005153
    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

    Thank You for Inquiry
    940 Harlem Avenue, Glenview, IL 60025
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!