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

    1849 Green Bay Rd Highland Park, IL 60035

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

    Class A office space in downtown Highland Park for rent.

    Property size:
    9,000 SF
    Lot size:
    1.27 Acres

    Property Features for 1849 Green Bay Rd

    General Information

    Size
    9,000 SF
    Lot size
    1.27 Acres

    We can help!

    Listing Contact
    Andrew Rubin
    Source: Moodyscre

    Listing Agent: Andrew Rubin

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

    Learn more

    Property Insight Report

    Overview

    Downtown Highland Park Office Space

    Class A office space is available for rent in downtown Highland Park. The property is located in an elevator building that includes an on-site parking garage. The building is situated one block from the Highland Park Metra Station and approximately two miles east of Route 41. Several restaurants and retailers are within walking distance, including Starbucks, Walker Brothers, Backyard BBQ, Potbelly, Michael's Hot Dogs, Once Upon a Deli, Lou Malnati's, Walgreens, Dunkin Donuts, Sushi Kushi, FedEx Office, and Lao Sze Chuan. The property offers 9,000 square feet of office space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Avant For Men Men'S Clothing Store Nimmagadda Sai R ... Allergist HLM Capital Management ... Investment Service Blue Marble Payroll Human Resource Consulting Standard Parking Parking Garage

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Highland Park
    County
    Lake
    State
    Illinois
    Longitude
    -87.8018878
    Latitude
    42.1856953

    Nearby Similar for Lease

    • Contact for pricing
      2,465 SF

      Prime Retail/Medical Space Available

      Retail or medical space near Highland Park Hospital and downtowns.
      1610 Deerfield Rd, Highland Park, IL 60035
      View Details
    • $28 SF/Yr
      1,769 SF

      Highland Park Boutique Office Suites

      Boutique office building with suites available for immediate occupancy.
      430 Park Ave, Highland Park, IL 60035
      View Details
    • $20 SF/Yr
      10,000 SF

      Highland Park Retail Center

      Prime Retail Space, 10,000 SF
      1930 1St St, Highland Park, IL 60035
      View Details
    • $23 SF/Yr
      7,500 SF

      Highland Park Retail Space Available

      Prime Downtown Location, 7,500 SF Total
      1811 St Johns Ave, Highland Park, IL 60035
      View Details
    • $9,000 /Mo
      2,750 SF

      Prime Retail Space on Central

      Storefront in Highland Park with high visibility and foot traffic.
      633-655 Central Ave, Highland Park, IL 60035
      View Details
    • $25 SF/Yr
      14,000 SF

      Highland Park Office Space

      Prime Downtown Highland Park Office
      600 Laurel Ave, Highland Park, IL 60035
      View Details
    • $21 SF/Yr
      20,000 SF

      North Shore Building: Highland Park Offices

      Prime Highland Park office space, multiple suites available.
      1866 Sheridan Rd, Highland Park, IL 60035
      View Details
    • $24 SF/Yr
      6,450 SF

      Highland Park Retail Space Available

      Prime Retail Space, 6,450 SF Total
      490 Central Ave, Highland Park, IL 60035
      View Details
    • Contact for pricing
      50,180 SF

      Highland Park Executive Office Suite

      9,000 SF Class A Office Space for Lease
      1850 2Nd St, Highland Park, IL 60035
      View Details
    • Contact for pricing
      2,216 SF

      Retail Space in Highland Park

      Retail space for lease with high visibility and access.
      2060-2090 Skokie Valley Rd, Highland Park, IL 60035
      View Details
    • $25 SF/Yr
      18,366 SF

      Highland Park Office Suites Available

      Prime Downtown Highland Park Office Space
      1725 Mcgovern St, Highland Park, IL 60035
      View Details
    • Contact for pricing
      2,750 SF

      Highland Park Retail Space Available

      Prime Central Ave storefront, 2750 sq ft.
      647 Central Ave, Highland Park, IL 60035
      View Details

    FAQs

    What type of property is this?
    Office space - Class A office space in downtown Highland Park for rent.
    Where is this office space located?
    The property is located at 1849 Green Bay Rd Highland Park, IL.
    What are key features of this property?
    This property features: - Class A office space in downtown Highland Park.; - On-site parking garage.; - One block from Highland Park Metra Station.
    (847) 780-8062
    Request Owner's contact information
    1849 Green Bay Rd Highland Park, IL 60035
    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.
    1849 Green Bay Rd
    Highland Park, IL 60035
    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
    1849 Green Bay Rd Highland Park, IL 60035
    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
    Andrew Rubin
    Real Estate License ID: #475.156642
    (847) 780-8062
    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.