Two-Level Professional Office
12508 S Harlem Avenue Palos Heights, IL 60463
New
12508 S Harlem Avenue, Palos Heights, IL, 60463
$399,000
For Sale
$399,000
COMMERCIAL - Palos Heights, IL
Property Size2,500 SF
Lot Size0.02 Acres
Price / SF$159.60
Days on Market4
Property Features for 12508 S Harlem Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Zoning
- OFFIC
- Standard status
- Active
- APN
- 23254250190000
- Lot size
- 0.02 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 10317
Utilities
- Utilities
- Water Available
- Cooling system
- Central Air
Building Details
- Year built
- 2000
- Floors in Building
- 2
- Number of units
- 1
- Flooring type
- Wood, Tile, Carpet
- Building materials
- Brick
Listing agency
Century 21 Circle
(708) 361-0800
Listed by
Mike McCatty · License #471002650
(708) 398-6400
Added: Jul 18 Checked: Jul 21 at 2:06PM
MLS# 12707045
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This move-in ready professional office building is designed to support flexible occupancy, with a shared common area that allows each level to function independently. The main level includes a reception area, four private offices (including two with large windows), plus a wet kitchenette and a bathroom. A back door provides access to the sidewalk and a grassy area. The second floor offers an open work area, two additional private offices (one with skylights), along with a wet kitchenette and a full bathroom.
Located on S Harlem Avenue in Palos Heights, the property is described as being in the downtown business area with approximately 28,000 vehicles passing daily. The building offers ample parking and is noted to include two established businesses on site.
The property is presented as professionally serviced and updated, with major mechanicals referenced as part of the turnkey condition.
Located on S Harlem Avenue in Palos Heights, the property is described as being in the downtown business area with approximately 28,000 vehicles passing daily. The building offers ample parking and is noted to include two established businesses on site.
The property is presented as professionally serviced and updated, with major mechanicals referenced as part of the turnkey condition.
Key Highlights
- Move‑in ready 2,500 SF professional office building on busy Harlem Avenue
- Flexible layout with separate main level and second floor, each with its own common areas
- Main level includes reception, four private offices, wet kitchenette, and bath; back door access to sidewalk and grassy area
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $61.2k | $24.48 |
| − Vacancy | −$15.2k | −$6.10 |
| EGI | $46.0k | $18.38 |
| − OpEx | −$11.5k | −$4.60 |
| NOI | $34.5k | $13.79 |
2,500 SF · lease $24.48/SF/yr · vacancy 24.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$492.4K
$430.9K – $574.5K
NOI $34,471 @ 7.0% cap · market cap 8.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$863.1K
$755.3K – $1.01M
NOI $60,420 @ 7.0% cap · market cap 15.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Sleep Center Palos ...
Medical Clinic
Moiduddin Shakir
Pediatrician
Abdul-Hamid M Shahbain ...
Physician
The Emily Agency
Home Health Care Service
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FAQs
What type of property is this?
Office building - Move-in ready office building with two independent levels, reception, private offices, and wet kitchenette facilities.
Where is this office building located?
The property is located at 12508 S Harlem Avenue Palos Heights, IL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Move‑in ready 2,500 SF professional office building on busy Harlem Avenue; Flexible layout with separate main level and second floor, each with its own common areas; Main level includes reception, four private offices, wet kitchenette, and bath; back door access to sidewalk and grassy area
