Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Multi-Tenant Office and Medical Building Title is generated by Realmo AI

    1640 Willow Circle Dr, Crest Hill, IL 60403

    View on Map
    Claim this Listing
    New
    For Sale
    Contact for pricing

    Single-story building with flexible suite sizes for office, medical, or retail conversion on a high-access corner lot.

    Type:OFFICE
    Property size:
    3,500 SF
    Lot size:
    1.47 Acres
    Price / SF:
    $542/SF
    Added:
    Jun 2, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 5 at 1:52 am

    Property Features for 1640 Willow Circle Dr

    General Information

    Standard status
    Active
    Size
    3,500 SF
    Lot size
    1.47 Acres
    Property subtype
    OFFICE

    Properties For Sale

    at 1640 Willow Circle Dr Contact us

    We can help!

    Listing Contact
    Leah Erickson
    Leah Erickson

    Listing agent Leah Erickson License #475204597

    Listing office Coldwell Banker Commercial Real Estate Group

    Listing date Jun 2, 2026

    Source Moodyscre

    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 Coldwell Banker Commercial Real Estate Group

    HighLights

    • 10,062 SF single‑story, multi‑tenant office building with flexible layout for office, medical, financial services, or retail conversion
    • 1.47‑acre corner lot with strong frontage along Larkin Ave (IL‑7)
    • Convenient access to both I‑55 and I‑80
    • Built in 2004 and described as well‑maintained
    • Multi‑tenant suite sizes approximately 500 SF up to 9,562 SF for phased occupancy or lease‑up

    Overview

    This 10,062-square-foot, single-story, multi-tenant building is housed in a well-maintained structure originally constructed in 2004. The property is designed to support a variety of professional uses, including medical, office, financial services, and retail conversion. Suite configurations allow for multi-tenant occupancy, with space ranging from approximately 500 square feet up to 9,562 square feet, which can support phased occupancy or longer-term leasing plans.

    The building sits on a 1.47-acre corner lot with strong frontage along Larkin Avenue (IL-7). Access is positioned to serve a broad regional base, with convenient connections to both I-55 and I-80. This combination of corner positioning and major-route frontage supports daily customer and employee traffic needs.

    For owner-users and investors, the flexible layout and multi-tenant design offer practical options for tailoring space to a range of tenant requirements. The property’s established versatility makes it suitable for businesses looking for either a dedicated suite or a strategy involving multiple tenants within one single-story asset.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Crest Hill
    County
    Will
    State
    Illinois
    Longitude
    -88.1201814
    Latitude
    41.5528275

    Nearby Similar for Sale

    • $1,900,000

      Single-Story Office and Medical Building

      Single-story multi-tenant office/medical building on a corner lot with strong frontage and substantial parking.
      1640 Willow Circle Drive, Crest Hill, IL 60435
      View Details
    • $389,900

      Versatile Commercial Property in Crest Hill

      Adaptable workspace for retail, medical, or fleet operations.
      2304 Plainfield Road, Crest Hill, IL 60403
      View Details
    • $249,000

      Crest Hill Commercial Opportunity

      Commercial property for sale in Crest Hill, Illinois.
      1917 N Broadway Street, Crest Hill, IL 60403
      View Details
    • $389,900
      4,815 SF

      Versatile Commercial Property For Sale

      High-visibility commercial property with office and industrial space for sale.
      2304 Plainfield Road, Crest Hill, IL 60403
      View Details
    • $585,000
      3,158 SF

      High-End Office Condo For Sale

      Versatile office condo with high-end finishes and excellent accessibility.
      16007 Executive Drive, Crest Hill, IL 60403
      View Details
    • $245,000
      11,000 SF

      Crest Hill Land For Sale

      1.4 acres of commercially zoned land in Crest Hill, IL.
      PLAINFIELD Road lot: 4 & 5, Crest Hill, IL 60403
      View Details
    • $2,100,000
      5,104 SF

      Halal Slaughterhouse and Retail Markets

      Vertically integrated Zabiha Halal meat operation with expansion potential.
      15921 Weber Road B, Crest Hill, IL 60403
      View Details
    • $2,100,000

      Halal Slaughterhouse and Retail Markets

      Vertically integrated Zabiha Halal meat operation with expansion potential.
      15921 Weber Road #B, Crest Hill, IL 60403
      View Details
    • $180,000

      Established Restaurant with Loyal Customers

      Well-established restaurant with loyal customer base and growth potential.
      1701 N Larkin Ave unit, Crest Hill, IL 60403
      View Details
    • $300,000

      Crest Hill Bar/Restaurant Business

      Thriving bar and restaurant business for sale in Crest Hill.
      1723 N Center Street, Crest Hill, IL 60403
      View Details
    • $245,000
      11,000 SF

      Cleared Land in T.I.F. District

      1.4 acres of cleared land zoned commercial B3.
      LOTS 4 & 5 PLAINFIELD Road, Crest Hill, IL 60403
      View Details
    • $1,100,000
      22,000 SF

      Turn-Key Bowling Alley For Sale

      16-lane bowling alley with full kitchen, bar, and restaurant.
      905 Theodore Street, Crest Hill, IL 60403
      View Details

    FAQs

    What type of property is this?
    Office units - Single-story building with flexible suite sizes for office, medical, or retail conversion on a high-access corner lot.
    Where is this office units located?
    The property is located at 1640 Willow Circle Dr Crest Hill, IL.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: 10,062 SF single‑story, multi‑tenant office building with flexible layout for office, medical, financial services, or retail conversion; 1.47‑acre corner lot with strong frontage along Larkin Ave (IL‑7); Convenient access to both I‑55 and I‑80
    (815) 780-7952 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Leah Erickson
    Leah Erickson
    Real Estate License ID: 475204597
    Learn More
    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
    1640 Willow Circle Dr, Crest Hill, IL 60403
    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!