Your AI Navigator in Commercial Real Estate
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

    248 Market Sq Lake Forest, IL 60045

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

    Retail space in a high-traffic shopping center near Metra.

    Property size:
    2,462 SF
    Lot size:
    0.47 Acres

    Property Features for 248 Market Sq

    General Information

    Size
    2,462 SF
    Lot size
    0.47 Acres

    Source: Mid-America Real Estate Group Agent Liz Krebs

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

    Overview

    Prime Retail Space in Lake Forest

    Located in a suburban downtown market within the Chicago MSA, this 2,462-square-foot retail space is positioned across the street from the Lake Forest Metra station, which has an annual ridership close to 7 million. The property is situated in Market Square, which features a diverse tenant mix of soft goods, service, and restaurant businesses. The shopping center's architecture is unique and striking, welcoming the community and beyond to shop and dine. Ample parking is available, servicing Market Square with over 300 spaces. The location boasts one of the highest average per-square-foot sales of any Chicago MSA shopping center, lifestyle center, and mall, at $800 per square foot.
    Insight Report Location Intelligence

    Current Use by Public Records

    Shopping malls

    Suggested Use

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

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

    Similar Places Nearby

    Market Square, Two Westminster Place, Coinstar Kiosk - Bitcoin ATM

    Location Insight

    • Map
    • Local Demand
    City
    Lake Forest
    County
    Lake
    State
    Illinois
    Longitude
    -87.8411338
    Latitude
    42.2524709

    Nearby Similar for Lease

    • $18 SF/Yr
      1,722 SF

      Lake Forest Office/Retail Suites

      Suites available in downtown Lake Forest near Metra.
      1044-1060 N Western Ave, Lake Forest, IL 60045
      View Details
    • $12 SF/Yr

      Lake Forest Office Space Available

      Well-maintained office building in West Lake Forest with flexible floorplan.
      13700 W Irma Lee Ct, Lake Forest, IL 60045
      View Details
    • Contact for pricing
      1,809 SF

      Downtown Lake Forest Retail/Office Space

      Class A retail/office space in affluent Lake Forest, Illinois.
      225 E Deerpath Rd, Lake Forest, IL
      View Details
    • Contact for pricing
      21,408 SF

      Class A Office Building

      Lake Forest office building with high-end amenities.
      275 N Field Dr, Lake Forest, IL 60045
      View Details
    • Contact for pricing
      47,863 SF

      Deerpath Plaza Office Suites

      Lake Forest Executive Office Space
      225 Deerpath Rd, Lake Forest, IL 60045
      View Details
    • Contact for pricing
      1,250 SF

      Retail Space Near Metra Station

      Retail space in a high-performing shopping center near Metra.
      672 N Western Ave, Lake Forest, IL 60045
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space in a high-traffic shopping center near Metra.
    Where is this shopping center located?
    The property is located at 248 Market Sq Lake Forest, IL.
    What are key features of this property?
    This property features: - Highest average per square foot sales in Chicago MSA at $800.; - Located in a top suburban downtown market.; - Across the street from the Lake Forest Metra station (7 million annual ridership).
    (630) 954-7300
    Request Owner's contact information
    248 Market Sq Lake Forest, IL 60045
    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.
    248 Market Sq
    Lake Forest, IL 60045
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    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.

    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.

    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
    248 Market Sq Lake Forest, IL 60045
    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
    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.