Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Upgraded Executive Office Condo Rental Title is generated by Realmo AI

    16532 106th Court, Orland Park, IL 60467

    View on Map
    Claim this Listing
    For Lease
    $21 SF/Yr $4,025/Mo (calc)

    Furnished office condo with loft in Winterset Office Park.

    Type:Commercial
    Property size:
    2,300 SF
    Added:
    Sep 24, 2025
    Days on Market:
    254
    Last Refresh:
    Apr 5 at 11:35 pm

    Property Features for 16532 106th Court

    General Information

    Standard status
    Active
    Size
    2,300 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    2007

    We can help!

    Listing Contact
    CHARLES UTLAK

    Listing agent CHARLES UTLAK

    Listing office REAL ESTATE RESOURCE HOME SALES

    Listing date Sep 24, 2025

    Source Corcoran

    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 REAL ESTATE RESOURCE HOME SALES

    HighLights

    • Fully furnished office space ready for immediate occupancy
    • Boasting 2300 sq ft of total space, including a 600 sq ft open loft
    • Includes 3 private offices, 8 cubicles, and 3 workstations
    • Equipped with a kitchen and bathroom within the office unit
    • Located in Winterset Office Park
    • Plenty of parking available

    Overview

    This upgraded executive office condo is available for rent within Winterset Office Park. The unit features 1,700 square feet of space, including 3 office spaces, 8 cubicles, and 3 workstations. An additional 600 square feet is provided by an open loft area, bringing the total area to 2,300 square feet. The office includes a kitchen and bathroom. The space is fully furnished and benefits from ample parking.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Orland Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.8783
    Latitude
    41.5893

    Nearby Similar for Lease

    • Contact for pricing
      2,000 SF

      Orland Park Professional Office Space

      Professional office building in Orland Park with high commuter traffic.
      8651 W 159th Street, Orland Park, IL 60462
      View Details
    • Contact for pricing
      5,000 SF

      Orland Park Retail Opportunity

      Redeveloped retail plaza in high-growth corridor, flexible spaces.
      16100 lagrange Road, Orland Park, IL 60467
      View Details
    • Sponsored
      Contact for pricing

      IL, Orland Park - 94th Ave

      15635 94Th Ave, Orland Park, IL 15635
      View Details
    • $129-$6,906/Mo
      11-1,292 SF

      Orland Park

      15255 94Th Ave, Unit 5TH, Orland Park, IL 60462
      View Details
    • Contact for pricing

      Orland Park Retail/Office Space

      Retail or office space in Orland Park's antique district.
      9919 W 143rd Place, Orland Park, IL 60462
      View Details
    • Contact for pricing
      2,000 SF

      Orland Park Premium Office Suite

      Spacious 2,000 SF office suite in thriving business corridor.
      13255 Southwest Highway, Orland Park, IL 60462
      View Details
    • $17 SF/Yr
      5,625 SF

      Class A Office Space

      Prominent office building in Orland Park, move-in ready.
      15255 South 94th Avenue, Orland Park, IL, 60462
      View Details
    • $2,600/Mo
      730 SF

      Second Floor Office Unit

      Office unit with open area, private office, and bathroom.
      9540 W 144TH Place 2B, Orland Park, IL 60462
      View Details
    • $24 SF/Yr
      1,800 SF

      Corner Office Condo in Orland

      Move-in-ready office condo with high-end finishes and abundant natural light.
      11223 Distinctive Drive, Orland Park, IL 60467
      View Details
    • $32 SF/Yr
      11,632 SF

      Orland Park Retail Endcap Space

      High-visibility retail space in a well-maintained Orland Park center.
      14470 LaGrange Road, Orland Park, IL 60462
      View Details
    • Contact for pricing

      Orland Park Office/Medical Condo

      Prime office/medical condo for rent in Orland Park, Illinois.
      16525 106th Court, Orland Park, IL 60467
      View Details
    • $1,925/Mo
      8,500 SF

      Retail Space in Orland Park

      Move-in-ready retail space in the Crossing at Brook Hill.
      11314 W Southwest Hwy, Orland Park, IL 60467
      View Details

    FAQs

    What type of property is this?
    Office units - Furnished office condo with loft in Winterset Office Park.
    Where is this office units located?
    The property is located at 16532 106th Court Orland Park, IL.
    What is the lease rate?
    The lease rate is $21 SF/Yr.
    What are key features of this property?
    This property features: Fully furnished office space ready for immediate occupancy; Boasting 2300 sq ft of total space, including a 600 sq ft open loft; Includes 3 private offices, 8 cubicles, and 3 workstations
    (708) 645-8700
    We can help!
    Listing Contact
    CHARLES UTLAK
    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
    16532 106th Court, Orland Park, IL 60467
    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!