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

    155-161 N Seymour Ave Mundelein, IL 60060

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $10 SF/Yr

    Storefronts for lease in downtown Mundelein near Route 45.

    Property Features for 155-161 N Seymour Ave

    General Information

    Standard status
    Active

    Building Details

    Year built
    2011

    We can help!

    Listing Contact
    Susan Silver
    Source: Exitrealty

    Listing Agency: Millennium Properties RE, Inc. Listing Agent: Susan Silver

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

    Learn more

    Overview

    Mundelein Storefronts Available For Lease

    Three storefronts are available for lease in the Mundelein Shopping Center, situated in downtown Mundelein, across from Kracklauer Park. One unit, formerly a retail store, offers 1,640 square feet suitable for various uses. A 3,250-square-foot turn-key medical office includes a reception area, multiple offices, and treatment rooms, each equipped with individual plumbing. The former 4,500-square-foot theater features an auditorium, a ticket/concession area, and a sound booth, potentially suitable for a religious facility or community center. The property is located just off Route 45 in Mundelein, Illinois, a community of approximately 32,000 residents with a bustling business corridor in Lake County.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Nail Salon Hotel & Motel Gym & Fitness Center

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

    Similar Places Nearby

    1800 flowers, Debbie's Floral Shoppe

    Location Insight

    • Map
    • Local Demand
    City
    Mundelein
    County
    Lake
    State
    Illinois
    Longitude
    -88.0352
    Latitude
    42.2666

    Nearby Similar for Lease

    • Contact for pricing

      Mundelein Office Space For Rent

      720 sq ft office space in Mundelein, Illinois.
      500 N Lake St, Mundelein, IL 60060
      View Details
    • Contact for pricing

      Mundelein Office Space Available

      Office space for rent in Mundelein, Illinois.
      500 N Lake St, Mundelein, IL 60060
      View Details
    • Contact for pricing

      Mundelein Office Space For Rent

      Office space available in Mundelein, high visibility location.
      500 N Lake St, Mundelein, IL 60060
      View Details
    • Contact for pricing

      Mundelein Office Space For Rent

      Office space available in Mundelein with high visibility.
      500 N Lake St, Mundelein, IL 60060
      View Details
    • Contact for pricing

      Mundelein Office Space For Rent

      Office space available in Mundelein with high visibility.
      500 N Lake St, Mundelein, IL 60060
      View Details
    • Contact for pricing

      Mundelein Office Space For Rent

      Office space available in Mundelein with high visibility.
      500 N Lake St, Mundelein, IL 60060
      View Details
    • Contact for pricing

      Mundelein Office Space Available

      Office space for rent in Mundelein, high visibility location.
      500 N Lake St, Mundelein, IL 60060
      View Details
    • $800 /Mo

      Office Unit For Rent

      Office unit with ample parking and high visibility.
      500 N Lake St, Mundelein, IL 60060
      View Details
    • Contact for pricing

      Grocery Anchored Retail Space Available

      Retail spaces for lease in busy Mundelein shopping center.
      1501 South Lake St, Mundelein, IL 60060
      View Details
    • $9 SF/Yr

      Mundelein Storefront for Lease

      4,500 SF storefront suitable for office or retail use.
      155 N Seymour Ave, Mundelein, IL 60060
      View Details
    • $7 SF/Yr

      Mundelein Warehouse with Restorable Docks

      30,000 SF warehouse with office space and convenient location.
      1700-1710 Butterfield Rd, Mundelein, IL 60060
      View Details
    • $10 SF/Yr
      62,304 SF

      Retail Space Near Train Station

      Retail space available in Mundelein, near the Metra station.
      311-385 N Seymour Ave, Mundelein, IL 60060
      View Details

    FAQs

    What type of property is this?
    Storefront property - Storefronts for lease in downtown Mundelein near Route 45.
    Where is this storefront property located?
    The property is located at 155-161 N Seymour Ave Mundelein, IL.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: - Located in the bustling business corridor of Mundelein, Lake County.; - Three storefronts available, offering diverse size and layout options (1,640 SF, 3,250 SF, and 4,500 SF).; - Turn-key 3,250 SF medical office with reception area, multiple offices, and treatment rooms with plumbing.
    (312) 338-3000
    Request Owner's contact information
    155-161 N Seymour Ave Mundelein, IL 60060
    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.
    155-161 N Seymour Ave
    Mundelein, IL 60060
    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
    155-161 N Seymour Ave Mundelein, IL 60060
    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
    Susan Silver
    Real Estate License ID: 475136992
    (312) 338-3000 (312) 338-3001
    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!