Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space Available For Rent Title is generated by Realmo AI

    1200 Central Avenue, Wilmette, IL 60091

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

    Retail spaces available, ranging from 200 to 1,416 square feet.

    Type:Retail
    Added:
    Nov 22, 2025
    Days on Market:
    181
    Last Refresh:
    Apr 5 at 8:14 pm

    Property Features for 1200 Central Avenue

    General Information

    Standard status
    Active
    Property subtype
    Retail

    We can help!

    Listing Contact
    Peter Graham
    Peter Graham

    Listing agent Peter Graham

    Listing office CBRE | Chicago

    Listing date Nov 22, 2025

    Source Cbre

    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 CBRE | Chicago

    HighLights

    • Flexible building size: +/-200‑1,416 SF available, ideal for diverse business requirements.
    • Ample Parking: Benefit from 116 surface spaces ensuring convenient parking.
    • Competitive Asking Price: Attractive lease rate at $28.00 PSF modified gross.
    • Modified Gross Lease: Enjoy simplified budgeting with predictable monthly costs.
    • Surface Parking: Easy access for tenants and clients.
    • Annual Electric Charge: Cost clarity with $1.44 PSF for electricity usage.

    Overview

    This property offers retail spaces for rent, with available sizes ranging from approximately 200 to 1,416 square feet. The asking price is $28.00 per square foot on a modified gross lease. The property includes 116 surface parking spaces. The annual electric charge is $1.44 per square foot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilmette
    County
    McLean
    State
    Illinois
    Longitude
    -87.7294
    Latitude
    42.0773

    Nearby Similar for Lease

    • Contact for pricing
      4,000 SF

      Renovated Space in Downtown Wilmette

      Modern, high-tech, 4,000 SF space near Metra station.
      517 Green Bay Road | Wilmette, IL 60091
      View Details
    • $44 SF/Yr

      Retail/Office Space on Ridge Road

      Retail or office space available for rent on Ridge Road.
      809 RIDGE Road #1north, Wilmette, IL 60091
      View Details
    • Contact for pricing

      Downtown Wilmette Retail Space

      Rare retail space with parking in Downtown Wilmette.
      1199 Wilmette Avenue, Wilmette, IL 60091
      View Details
    • Contact for pricing

      Retail/Office Space in Ridge District

      Retail or office space available in a business district.
      809 RIDGE Road 1north, Wilmette, IL 60091
      View Details
    • $28 SF/Yr

      Retail Space with Basement Storage

      Retail space for lease with basement, walk-in freezer/refrigerator.
      1167 Wilmette Avenue, Wilmette, IL 60091
      View Details
    • Contact for pricing
      1,416 SF

      Retail Space Available For Rent

      Retail spaces ranging from 200 to 1,416 square feet.
      1200 Central Ave, Wilmette, IL 60091
      View Details
    • $35 SF/Yr
      2,518 SF

      Wilmette Office Space Near Metra

      Office suites available for lease near Wilmette Metra Station.
      825 Green Bay Rd, Wilmette, IL 60091
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail spaces available, ranging from 200 to 1,416 square feet.
    Where is this retail space located?
    The property is located at 1200 Central Avenue Wilmette, IL.
    What are key features of this property?
    This property features: Flexible building size: +/-200‑1,416 SF available, ideal for diverse business requirements.; Ample Parking: Benefit from 116 surface spaces ensuring convenient parking.; Competitive Asking Price: Attractive lease rate at $28.00 PSF modified gross.
    (312) 861-7851
    We can help!
    Listing Contact
    Peter Graham
    Peter Graham
    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

    Thank You for Inquiry
    1200 Central Avenue, Wilmette, IL, 60091
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!