Two-Level Office Building with
For Sale
Contact for pricing
12508 S Harlem Avenue B, Palos Heights, IL 60463
Move-in ready office building with independent level functionality, private offices, and ample parking in a high-traffic corridor.
Property Size2,500 SF
Price / SF$159.60
Days on Market13
Property Features for 12508 S Harlem Avenue B
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Office
Building Details
Year Built
2000
Buildings
1
Stories
2
Building Size
2,500 SF
Tenancy
Multi
Listing Agency:
CENTURY 21 Circle
Listed By:
Andrew McCatty · License #IL 475169906
Source:
Crexi
Added: Jul 18
Changed: Jul 30
Last Checked: Jul 30 at 4:27AM
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 CENTURY 21 Circle
Investment Insights
Based on property information with market context.
This two-level professional office building is designed for flexible use, with a shared common area that allows each floor to function independently. The main level includes a reception area for greeting clients, four private offices (two with large windows), plus a wet kitchenette and bath. A back door provides access to a sidewalk and grassy area.
The second floor offers a spacious open work area, two additional private offices (including one with skylights), along with a wet kitchenette and a full bathroom. The building was constructed in 2000 and is described as having professionally serviced and updated major mechanicals.
Located in the heart of Downtown Palos Heights on Harlem Avenue with approximately 28,000 vehicles passing daily, the property is positioned for strong visibility and access to nearby dining, shopping, and local amenities. The offering also notes ample parking and two established businesses within the building.
The second floor offers a spacious open work area, two additional private offices (including one with skylights), along with a wet kitchenette and a full bathroom. The building was constructed in 2000 and is described as having professionally serviced and updated major mechanicals.
Located in the heart of Downtown Palos Heights on Harlem Avenue with approximately 28,000 vehicles passing daily, the property is positioned for strong visibility and access to nearby dining, shopping, and local amenities. The offering also notes ample parking and two established businesses within the building.
Key Highlights
- 2,500 sq. ft. two‑level professional office building
- Main level reception, four private offices, wet kitchenette and bath
- Second floor open work area, two offices with one skylit office, wet kitchenette and full bath
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 authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
887
Businesses Nearby
Explore this area
Business Placement
Demographics for 60463, IL
14,048
Population
5,501
Households
2.6
Avg Household Size
52
Median Age
41%
College-Educated
97%
High-School Grad
5.3 sq mi
ZIP Area
2,651
Density / Sq Mi
$105,389
Median Household Income
$64,885
Median Earnings
$2,119
Median Rent
$343,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Move-in ready office building with independent level functionality, private offices, and ample parking in a high-traffic corridor.
Where is this office building located?
The property is located at 12508 S Harlem Avenue B 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: 2,500 sq. ft. two‑level professional office building; Main level reception, four private offices, wet kitchenette and bath; Second floor open work area, two offices with one skylit office, wet kitchenette and full bath
