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

    450 West Half Day Rd Buffalo Grove, IL 60089

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    70,183 SF former grocery store with high-income demographics.

    We can help!

    Listing Contact
    Sean Mccourt
    Source: Cbre

    Listing Agent: Sean Mccourt

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

    Learn more

    Property Insight Report

    Overview

    Turnkey Grocery Store Sublease Opportunity

    This is a sublease opportunity for a 70,183 square-foot turnkey former grocery store. The location benefits from high-income demographics, with an average household income of $201,653 within a 3-mile radius. The property features two signalized access points and four pylon signs, providing great access and visibility.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lisa Slankard, RPH Pharmacy Mary Madsen, RPh Pharmacy Bernadette Jocson, PharmD Pharmacy Western Union Money Transfer Service MoneyGram Money Transfer Service

    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
    Buffalo Grove
    County
    Lake
    State
    Illinois
    Longitude
    -87.9680002
    Latitude
    42.1984671

    Nearby Similar for Lease

    • Contact for pricing

      Professional Office Space Available

      Professional office space in Buffalo Grove with flexible layout.
      1401 Mchenry Rd, Buffalo Grove, IL 60089
      View Details
    • Contact for pricing
      6,250 SF

      Buffalo Grove Retail Space Available

      New construction retail space for lease in Buffalo Grove, Illinois.
      1355 Dundee Rd, Buffalo Grove, IL 60089
      View Details
    • Contact for pricing
      50,000 SF

      New Spec Building on Parkway

      50,000 SF spec building in Buffalo Grove, available Spring 2020.
      990 Deerfield Pkwy, Buffalo Grove, IL 60089
      View Details
    • $20 SF/Yr
      435 SF

      Buffalo Grove Retail/Office Space

      Two-story shopping center with retail and office spaces for rent.
      1145-1217 Mchenry Rd, Buffalo Grove, IL 60089
      View Details
    • Contact for pricing
      11,247 SF

      Furnished Office Space Available

      Move-in ready office space with modern amenities and convenient location.
      485 W Half Day Rd, Buffalo Grove, IL 60089
      View Details
    • $9 SF/Yr
      52,492 SF

      Busch Parkway Industrial Flex Space

      Prime Buffalo Grove Flex/Warehouse Space Available
      1300 Busch Pkwy, Buffalo Grove, IL 60089
      View Details
    • Contact for pricing
      28,264 SF

      Buffalo Grove Industrial Space For Lease

      Versatile Flex/Warehouse Space Available
      0 Barclay Blvd & Aptakisic Rd, Buffalo Grove, IL 60089
      View Details
    • Contact for pricing
      192,624 SF

      Hawthorn Hills Square Shopping Center

      Prime Retail Space, Lake County, IL
      0 Townline Rd & Milwaukee Ave, Buffalo Grove, IL 60061
      View Details
    • $20 SF/Yr
      1,800 SF

      Spoerlein Commons: Buffalo Grove Office

      Class A Office Suites, Prime Location
      1151 Mchenry Rd, Buffalo Grove, IL 60089
      View Details
    • Contact for pricing
      6,250 SF

      Plaza Verde West Retail Space

      New 6,250 SF retail building in Buffalo Grove, IL
      1355 Dundee Rd, Buffalo Grove, IL 60089
      View Details
    • Contact for pricing
      2,642 SF

      Retail Space in Creekside Commons

      Retail space with high visibility and ample parking.
      1105 Weiland Rd, Buffalo Grove, IL 60089
      View Details
    • $21 SF/Yr
      64,860 SF

      Prime Medical Office Space, Buffalo Grove

      Single-story medical suites, 4 spaces available
      1450 Busch Pkwy, Buffalo Grove, IL 60089
      View Details

    FAQs

    What type of property is this?
    Grocery and convenience store - 70,183 SF former grocery store with high-income demographics.
    Where is this grocery and convenience store located?
    The property is located at 450 West Half Day Rd Buffalo Grove, IL.
    What are key features of this property?
    This property features: - Turnkey former grocery store with 70,183 SF; - High income area: $201,653 avg HH income within 3 miles; - Great access with two signalized access points
    (312) 297-7688
    Request Owner's contact information
    450 West Half Day Rd Buffalo Grove, IL 60089
    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.
    450 West Half Day Rd
    Buffalo Grove, IL 60089
    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
    450 West Half Day Rd Buffalo Grove, IL 60089
    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
    Sean Mccourt
    (312) 297-7688
    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.