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

    6201-6247 Park Ave Morton Grove, IL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Flex space available for lease in Morton Grove, Illinois.

    Type:INDUSTRIAL
    Property size:
    9,349 SF
    Lot size:
    2.53 Acres
    Added:
    Mar 28, 2025
    Days on Market:
    396
    Last Refresh:
    Apr 5 at 9:10 pm

    Property Features for 6201-6247 Park Ave

    General Information

    Standard status
    Active
    Size
    9,349 SF
    Lot size
    2.53 Acres
    Property subtype
    INDUSTRIAL

    Spaces For Lease

    at 6201-6247 Park Ave Contact us

    We can help!

    Listing Contact
    Brandon Waters
    Brandon Waters

    Listing agent Brandon Waters

    Listing office KBC Advisors | Chicago

    Listing date Mar 28, 2025

    Source Moodyscre

    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 KBC Advisors | Chicago

    Overview

    Morton Grove Flex Space Available

    This flex space, located in Morton Grove, Illinois, offers between 2,421 and 9,349 square feet. Approximately 74% of the space is office area. The property features a 15-foot clear height, two common interior depressed docks, and one drive-in door. It is situated approximately two miles from I-94.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply 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

    • Dimensions Kosher Catering — 5641 W Howard St, Niles, IL 60714

    Location Insight

    • Map
    • Local Demand
    City
    Morton Grove
    County
    Cook
    State
    Illinois
    Longitude
    -87.7832
    Latitude
    42.0278

    Nearby Similar for Lease

    • Contact for pricing

      Morton Grove Commercial Space Available

      Prime commercial space for lease in a neighborhood plaza.
      9232 Waukegan Road, Morton Grove, IL 60053
      View Details
    • $13 SF/Yr

      Morton Grove Warehouse Space Available

      7,655 SF warehouse space for sublease in Morton Grove.
      8035 Austin Ave, Morton Grove, IL 60053
      View Details
    • Contact for pricing

      Retail Space at Beckwith Center

      Highly visible retail space in a desirable neighborhood center.
      9225-9255 Waukegan Road | Morton Grove, IL 60053
      View Details
    • $10 SF/Yr

      Morton Grove Warehouse Space Available

      41,200 SF warehouse space with flexible lease terms.
      8220-8270 N Austin Ave, Morton Grove, IL
      View Details
    • $10 SF/Yr

      Morton Grove Industrial Facility

      Recently constructed industrial facility with heavy duty features and parking.
      7840-7860 Lehigh Ave, Morton Grove, IL
      View Details
    • Contact for pricing

      Retail Space in Beckwith Center

      Retail space available in a busy, accessible neighborhood center.
      9225 Waukegan Rd, Morton Grove, IL
      View Details
    • Contact for pricing

      Morton Grove Industrial Space Available

      Industrial buildings in Morton Grove Corporate Park for rent.
      6200-6288 Oakton St, Morton Grove, IL
      View Details
    • Contact for pricing

      Morton Grove Industrial Space Available

      Industrial buildings in Morton Grove Corporate Park, flexible options.
      6300 - 6388 Oakton St, Morton Grove, IL
      View Details
    • Contact for pricing

      Retail Space on Dempster Street

      Retail space available on heavily trafficked Dempster Street.
      7132 Dempster St, Morton Grove, IL
      View Details
    • $11 SF/Yr

      Column-Free Retail Space Available

      4400 SF retail/office space near Edens Expressway.
      6000-6014 Dempster St, Morton Grove, IL
      View Details
    • $2,500/Mo

      Medical Office Space Available

      Built-out medical space with exam rooms and parking.
      9211 Waukegan Rd, Morton Grove, IL
      View Details
    • Contact for pricing

      Retail Space on Dempster Street

      Retail spaces available on heavily trafficked Dempster Street.
      7172 Dempster St, Morton Grove, IL 60053
      View Details

    FAQs

    What type of property is this?
    Flex space - Flex space available for lease in Morton Grove, Illinois.
    Where is this flex space located?
    The property is located at 6201-6247 Park Ave Morton Grove, IL.
    What is the lease rate?
    The lease rate is $9 SF/Yr.
    What are key features of this property?
    This property features: Size range: **2,421‑9,349 SF**; Approximately 74% office space; Features **2 common interior depressed docks**
    (773) 453-7020 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Brandon Waters
    Brandon Waters
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!