Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • 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

    1600 W Dempster St Park Ridge, IL 60068

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $22 SF/Yr

    Office space available in premier building near Lutheran General Hospital.

    Lot size:
    0.92 Acres

    Property Features for 1600 W Dempster St

    General Information

    Standard status
    Active
    Lot size
    0.92 Acres

    Building Details

    Year built
    1984

    We can help!

    Listing Contact
    Vaciliki Ress
    Source: Corcoran

    Listing Agent: Vaciliki Ress

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Professional Office Space Near Hospital

    This rarely offered office space is located in a premier building adjacent to Lutheran General Hospital. The property offers an opportunity to join established professional office tenants providing various services. The building benefits from good visibility and a mix of medical and professional tenants, with ample free parking available. The fully built-out office space is situated in an elevator building. The space is suitable for a variety of uses including medical practices, physical therapy, architecture firms, legal services, tax preparation, estate planning, insurance agencies, medical spas, yoga studios, and market research. The available office space is bright, features many windows, and offers natural light. It is ready for immediate occupancy, making it suitable for new businesses looking to start operations quickly.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Emelita Marquez-Wong, DDS Dentist Ismilecare Dentist Dr. Eunyoung Park, ... Dentist George J Futris ... Dentist Joseph Stanley DDS Dentist

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Park Ridge
    County
    Cook
    State
    Illinois
    Longitude
    -87.8468993
    Latitude
    42.0401823

    Nearby Similar for Lease

    • Contact for pricing

      Renovated Office Space Near Transit

      Move-in ready office with convenient access to transportation and amenities.
      1030 W Higgins Rd, Park Ridge, IL 60068
      View Details
    • Contact for pricing
      8,200 SF

      Iconic Pickwick Theater Rear Building

      Rear building of Pickwick Theater available for lease.
      116 Euclid Ave, Park Ridge, IL 60068
      View Details
    • $5 SF/Yr
      6,249 SF

      Park Ridge Office Space Available

      Flexible Offices, Coworking & More
      222 Prospect Ave, Park Ridge, IL 60068
      View Details
    • $9 SF/Yr
      117,058 SF

      Park Ridge Office Park Investment

      Prime Park Ridge office space, multiple suites available.
      1550 Northwest Hwy, Park Ridge, IL 60068
      View Details
    • $14 SF/Yr
      35,209 SF

      O'Hare Corporate Centre Office Space

      Prime Park Ridge Office Suites Available
      1300 Higgins Rd, Park Ridge, IL 60068
      View Details
    • $14 SF/Yr
      54,687 SF

      Park Ridge Office Park Investment

      Prime Park Ridge office space, multiple suites available.
      1460 Renaissance Dr, Park Ridge, IL 60068
      View Details
    • $24 SF/Yr
      23,138 SF

      Dempster Street Medical Office Suites

      Modern medical offices near Advocate Lutheran.
      1600 Dempster St, Park Ridge, IL 60068
      View Details
    • $14 SF/Yr
      54,687 SF

      O'Hare Office Center: Park Ridge

      Prime Park Ridge Office Space, 23 Suites Available
      1480 Renaissance Dr, Park Ridge, IL 60068
      View Details
    • Contact for pricing
      70,402 SF

      Uptown Park Ridge Retail Space

      Prime Retail, Multiple Units Available
      190 Northwest Hwy, Park Ridge, IL 60068
      View Details
    • $16 SF/Yr

      Park Ridge Office Space Available

      Office spaces for rent near Advocate Lutheran General Hospital.
      1550 N Northwest Hwy, Park Ridge, IL 60068
      View Details
    • $11 SF/Yr
      54,687 SF

      Park Ridge Executive Office Suites

      Prime Park Ridge Office Space, 9 Suites Available
      1420 Renaissance Dr, Park Ridge, IL 60068
      View Details
    • Contact for pricing
      1,814 SF

      Retail Space in Park Ridge

      Retail space anchored by Trader Joe's in Park Ridge.
      510 W Touhy Ave, Park Ridge, IL 60068
      View Details

    FAQs

    What type of property is this?
    Office space - Office space available in premier building near Lutheran General Hospital.
    Where is this office space located?
    The property is located at 1600 W Dempster St Park Ridge, IL.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: - Premier building location next to Lutheran General Hospital and Potillos.; - **Fully built-out office space ready for immediate occupancy.**; - Ample free parking.
    (847) 510-5000
    Request Owner's contact information
    1600 W Dempster St Park Ridge, IL 60068
    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.
    1600 W Dempster St
    Park Ridge, IL 60068
    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
    1600 W Dempster St Park Ridge, IL 60068
    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

    We can help!
    Listing Contact
    Vaciliki Ress
    (847) 510-5000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.