Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4600-4634 N Harlem Ave Harwood Heights, IL 60706

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

    Office space for rent near Harlem-Irving Plaza.

    Property size:
    1,863 SF
    Lot size:
    1.41 Acres

    Property Features for 4600-4634 N Harlem Ave

    General Information

    Size
    1,863 SF
    Lot size
    1.41 Acres

    We can help!

    Listing Contact
    Brendan Reedy
    Brendan Reedy
    Source: Moodyscre

    Listing Agent: Brendan Reedy

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

    Learn more

    Overview

    Harwood Heights Office Space Available

    This office space is ideally situated in an area with exceptionally high overall retail occupancy. It is located blocks away from Harlem-Irving Plaza. The property includes 110 total parking spaces. Sign panels are available on a large shared pylon. The facade and parking lot have been newly renovated. Major tenants in the area include Target, Kohl’s, KMart, Carson Pirie Scott, Best Buy, Bed Bath and Beyond, Old Navy, Staples, Michaels, Petco and Walgreens. The property offers 1,863 square feet of space and is located in Harwood Heights, IL.
    Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Harwood Heights
    County
    Cook
    State
    Illinois
    Longitude
    -87.807561
    Latitude
    41.9640445

    Nearby Similar for Lease

    • $1,650 /Mo

      Harwood Heights 2-Bed Condo Apartment

      Two-bedroom apartment in Harwood Heights featuring hardwood floors, updated kitchen, and included heat and cooking gas.
      4916 N Harlem Ave, Harwood Heights, IL 60706
      View Details
    • $24 SF/Yr
      70,345 SF

      Holiday Plaza Retail Space Available

      Harwood Heights, IL Strip Center - 70,345 SF
      4747 Harlem Ave, Harwood Heights, IL 60706
      View Details
    • Contact for pricing
      60,146 SF

      Harlem Irving Trade Area Retail

      Retail opportunity in Harlem Irving trade area.
      7304 W Lawrence Ave, Harwood Heights, IL 60640
      View Details
    • Contact for pricing
      38,000 SF

      Harwood Heights Commercial Property Available

      38,000 sqft commercial space with ample parking.
      7447 W Lawrence Ave, Harwood Heights, IL 60640
      View Details
    • Contact for pricing
      40,000 SF

      Retail Space in Harwood Heights

      Retail space available in high-traffic Harwood Heights location.
      4701 N Harlem Ave, Harwood Heights, IL 60706
      View Details
    • Contact for pricing
      46,000 SF

      Harwood Heights Warehouse Space Available

      46,000 SF warehouse with ample parking in Harwood Heights.
      7401 W Wilson Ave, Harwood Heights, IL 60640
      View Details

    FAQs

    What type of property is this?
    Office space - Office space for rent near Harlem-Irving Plaza.
    Where is this office space located?
    The property is located at 4600-4634 N Harlem Ave Harwood Heights, IL.
    What are key features of this property?
    This property features: - Exceptionally high overall retail occupancy; - Newly renovated facade and parking lot; - Located blocks away from Harlem-Irving Plaza
    (630) 954-7327
    Request Owner's contact information
    4600-4634 N Harlem Ave Harwood Heights, IL 60706
    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.
    4600-4634 N Harlem Ave
    Harwood Heights, IL 60706
    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
    4600-4634 N Harlem Ave Harwood Heights, IL 60706
    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
    Brendan Reedy
    Brendan Reedy
    (630) 954-7327
    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.