Add Listing
    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

    11840 Illinois Rte 59 Plainfield, IL

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail property in affluent area with high traffic counts.

    Property size:
    10,880 SF
    Lot size:
    13.03 Acres

    Property Features for 11840 Illinois Rte 59

    General Information

    Size
    10,880 SF
    Lot size
    13.03 Acres

    We can help!

    Listing Contact
    Sean Mccourt
    Sean Mccourt
    Source: Moodyscre

    Listing Agency: CBRE | Chicago Listing Agent: Sean Mccourt

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

    Learn more

    Overview

    Retail Space in Plainfield

    This retail property is located in an affluent area with an average income of $190,000 and a highly educated population, with 69% holding a college degree. The location benefits from high traffic counts of 43,000 vehicles per day and proximity to 1 million square feet of retail space. Current tenants include national retailers such as Kohls and CVS Pharmacy, as well as Buffalo Wild Wings. A large pylon panel is available, along with a junior anchor facade. The property offers 10,880 square feet of retail space.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Similar Places Nearby

    Heritage Meadows Village Center, North Plainfield Crossing

    Location Insight

    • Map
    • Local Demand
    City
    Plainfield
    County
    Will
    State
    Illinois
    Longitude
    -88.2120315
    Latitude
    41.632223

    Nearby Similar for Lease

    • Contact for pricing
      6,534 SF

      Downtown Plainfield Office Suites Available

      Renovated office suites in downtown Plainfield with high foot traffic.
      24215 W Lockport St, Plainfield, IL 60544
      View Details
    • Contact for pricing

      Salon Suites in Plainfield

      Premier salon suites available for various business uses.
      4998 Theodore St, Plainfield, IL 60586
      View Details
    • Contact for pricing

      Salon Suites in Plainfield

      Premier salon suites available for rent in Plainfield, Illinois.
      4998 Theodore St, Plainfield, IL 60586
      View Details
    • Contact for pricing

      Salon Suite in Plainfield

      Premier salon suites with amenities and customization options available for rent.
      4998 Theodore St, Plainfield, IL 60586
      View Details
    • Contact for pricing
      6,534 SF

      Downtown Plainfield Office Suites Available

      Renovated office suites for rent in downtown Plainfield.
      24215 W Lockport St, Plainfield, IL 60544
      View Details
    • Contact for pricing

      Office Space on Route 59

      End unit office space with high traffic exposure.
      2019 S Rte 59 Hwy, Plainfield, IL 60586
      View Details
    • Contact for pricing

      Retail Space in Plainfield, IL

      Retail space available for lease in Plainfield, Illinois.
      12337 S Route 59, Plainfield, IL 60585
      View Details
    • $30 SF/Yr

      Downtown Plainfield Office Suites Available

      Renovated office suites for rent in downtown Plainfield.
      24215 W Lockport St, Plainfield, IL 60544
      View Details
    • $20 SF/Yr

      Retail Center on Route 59

      Multi-tenant retail center in Plainfield's commercial corridor.
      12337 Route 59 S, Plainfield, IL 60585
      View Details
    • $24 SF/Yr
      2,859 SF

      Turnkey Culinary Facility in Plainfield

      Fully built-out commercial kitchen available for lease in Plainfield, Illinois.
      12315 Rhea Dr, Plainfield, IL 60585
      View Details
    • Contact for pricing
      392,613 SF

      Freezer/Cooler Distribution Facility Available

      Class A freezer/cooler facility suitable for distribution purposes.
      25815 West 143Rd St, Plainfield, IL 60544
      View Details
    • Contact for pricing
      90,330 SF

      Retail Space in Affluent Area

      Retail property in high-income area with high traffic volume.
      11830 Illinois Rte 59, Plainfield, IL 60585
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail property in affluent area with high traffic counts.
    Where is this shopping center located?
    The property is located at 11840 Illinois Rte 59 Plainfield, IL.
    What are key features of this property?
    This property features: - Affluent Area: average incomes of $190,000; - 1 Million SF of Retail; - High Visibility: 43,000 VPD Traffic Counts
    (312) 297-7688 Call to check price and availability
    Request Owner's contact information
    11840 Illinois Rte 59 Plainfield, IL
    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.
    11840 Illinois Rte 59
    Plainfield, IL
    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
    11840 Illinois Rte 59 Plainfield, IL
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing Sean Mccourt
    Sean Mccourt
    (312) 297-7688 (312) 935-1400
    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!