Add Listing
    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

    6 E Phillip Rd Vernon Hills, IL 60061

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $13 SF/Yr

    Multi-tenant medical office building with suites from 918-7,865 SF.

    We can help!

    Listing Contact
    Olivia Czyzynski
    Olivia Czyzynski
    Source: Svnchicago

    Listing Agency: SPERRY VAN NESS Listing Agent: Olivia Czyzynski

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

    Learn more

    Property Insight Report

    Overview

    Vernon Hills Medical Office Suites

    The property at 6 E Phillip Road in Vernon Hills, IL, is a 21,621 square-foot, single-story, multi-tenant medical office building. Suites available for lease range from 918 to 7,865 square feet. Designed for healthcare providers, the building features private suite entrances, abundant parking with 220 surface spaces, and patient access. The property is located in the heart of Vernon Hills, just off Route 60, providing visibility and proximity to I-94, major hospitals, and retail and dining amenities. It is located directly on IL Route 60 (Townline Road) and within minutes of Advocate Condell Medical Center. The location is suitable for medical and wellness practices, offering flexible floor plans for small private practices or larger group medical offices, within a professionally managed setting. Nearby public transportation options and a healthcare corridor enhance the convenience for providers and patients. New exterior monument signage with tenant panels is upcoming, and there is a TV directory in the common area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical Office Space

    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.

    Similar Places Nearby

    Townline Animal Hospital

    Location Insight

    • Map
    • Local Demand
    City
    Vernon Hills
    County
    Lake
    State
    Illinois
    Longitude
    -87.9625884
    Latitude
    42.2397932

    Nearby Similar for Lease

    • Contact for pricing

      IL, Vernon Hills - Atrium Dr

      Workspaces, services and support to help you work better in IL, Vernon Hills - Atrium Dr
      568 Atrium Dr, Vernon Hills, IL 60061
      View Details
    • Sponsored
      Contact for pricing

      IL, Vernon Hills - Lakeview Pky

      Discover many ways to work your way in IL, Vernon Hills - Lakeview Pky
      544 Lakeview Pkwy, Vernon Hills, IL 60061
      View Details
    • Contact for pricing
      8,000 SF

      Retail Space in Vernon Hills

      Retail space with high traffic and excellent visibility.
      325 North Milwaukee Ave, Vernon Hills, IL 60061
      View Details
    • $21 SF/Yr

      Office Space Near Hawthorn Mall

      Office space with easy access to shopping, dining, and highways.
      175 East Hawthorn Pkwy, Vernon Hills, IL 60061
      View Details
    • $13 SF/Yr
      23,358 SF

      Vernon Hills Office Space Available

      Office space for rent with monument signage opportunity.
      750 Bunker Ct, Vernon Hills, IL 60061
      View Details
    • $14 SF/Yr
      49,052 SF

      Vernon Hills Office Space Available

      Office space available for lease in Vernon Hills, Illinois.
      75 North Fairway Dr, Vernon Hills, IL 60061
      View Details
    • $14 SF/Yr

      Vernon Hills Specialty Property

      Specialty property available for rent in Vernon Hills, Illinois.
      544 Lakeview Pkwy, Vernon Hills, IL 60061
      View Details
    • $8 SF/Yr

      Vernon Hills Specialty Property

      Specialty property for rent with flexible unit size options.
      110-130 Lakeview Pkwy, Vernon Hills, IL 60061
      View Details
    • $24 SF/Yr

      Vernon Hills Office Space Available

      Office space available for lease in Vernon Hills, Illinois.
      977 Lakeview Pkwy, Vernon Hills, IL 60061
      View Details
    • Contact for pricing
      1,762 SF

      Retail Space on Evergreen Drive

      Retail space available for lease in Vernon Hills, Illinois.
      271-289 Evergreen Dr, Vernon Hills, IL 60061
      View Details
    • Contact for pricing
      14,826 SF

      Prime Retail Space in Vernon Hills

      Trophy property in high-demand Chicago suburb with excellent visibility.
      701 N Milwaukee Ave, Vernon Hills, IL 60061
      View Details
    • Contact for pricing
      7,181 SF

      Mellody Farm Retail Spaces Available

      Vernon Hills retail spaces, 1,181-6,000 sq ft.
      851 Milwaukee Ave, Vernon Hills, IL 60061
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Multi-tenant medical office building with suites from 918-7,865 SF.
    Where is this medical office space located?
    The property is located at 6 E Phillip Rd Vernon Hills, IL.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: - Suites designed specifically for healthcare providers with private entrances.; - Located in the heart of Vernon Hills, just off Route 60, with excellent visibility.; - Minutes from Advocate Condell Medical Center (Level I Trauma Center) and I-94.
    (312) 676-1862
    Request Owner's contact information
    6 E Phillip Rd Vernon Hills, IL 60061
    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.
    6 E Phillip Rd
    Vernon Hills, IL 60061
    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
    6 E Phillip Rd Vernon Hills, IL 60061
    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
    Olivia Czyzynski
    Olivia Czyzynski
    Real Estate License ID: 475146577
    (312) 676-1862 (312) 676-1866
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!