Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Highland Park Office Space Title is generated by Realmo AI

    1849 Green Bay Rd, Highland Park, IL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Class A office space in downtown Highland Park for rent.

    Type:RETAIL
    Property size:
    9,000 SF
    Lot size:
    1.27 Acres
    Added:
    Nov 7, 2025
    Days on Market:
    191
    Last Refresh:
    Apr 5 at 9:18 pm

    Property Features for 1849 Green Bay Rd

    General Information

    Standard status
    Active
    Size
    9,000 SF
    Lot size
    1.27 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 1849 Green Bay Rd Contact us

    We can help!

    Listing Contact
    James (Jim) Schutter
    James (Jim) Schutter

    Listing agent James (Jim) Schutter License ##475.156642

    Listing office Newmark | Chicago

    Listing date Nov 7, 2025

    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 Newmark | Chicago

    HighLights

    • Class A office space in downtown Highland Park.
    • On‑site parking garage.
    • One block from Highland Park Metra Station.
    • Walking distance to numerous restaurants and retailers.
    • Elevator building.
    • Approximately 2 miles east of Route 41.

    Overview

    Class A office space is available for rent in downtown Highland Park. The property is located in an elevator building that includes an on-site parking garage. The building is situated one block from the Highland Park Metra Station and approximately two miles east of Route 41. Several restaurants and retailers are within walking distance, including Starbucks, Walker Brothers, Backyard BBQ, Potbelly, Michael's Hot Dogs, Once Upon a Deli, Lou Malnati's, Walgreens, Dunkin Donuts, Sushi Kushi, FedEx Office, and Lao Sze Chuan. The property offers 9,000 square feet of office space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Avant For Men Clothing & Fashion Store Nimmagadda Sai R ... Physician HLM Capital Management ... Financial Advisor Blue Marble Payroll Employment Agency Standard Parking Parking Lot & Garage

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Highland Park
    County
    Lake
    State
    Illinois
    Longitude
    -87.8019
    Latitude
    42.1857

    Nearby Similar for Lease

    • Contact for pricing
      16,270 SF

      New Retail Space in Highland Park

      Retail space for lease in downtown Highland Park near Metra.
      445 Central Ave, Highland Park, IL 60035
      View Details
    • Contact for pricing
      50,180 SF

      Downtown Highland Park Class A Office

      Class A office space in downtown Highland Park with parking.
      1850 2nd St, Highland Park, IL 60035
      View Details
    • $32 SF/Yr
      1,150 SF

      Retail Space with Existing Kitchen

      Storefront retail space with existing kitchen and washroom.
      1869 Sheridan Rd, Highland Park, IL
      View Details
    • Contact for pricing
      55,033 SF

      Premier Office Space in Highland

      Modern office space in Highland Park with state-of-the-art amenities.
      1770 1st Street, Highland Park, IL 60035
      View Details
    • $15 SF/Yr
      1,690 SF

      Highland Park Office Space Available

      Office space for rent in prime Highland Park location.
      667 Central Ave, Highland Park, IL
      View Details
    • $9,000/Mo
      2,750 SF

      Prime Retail Space on Central

      Storefront in Highland Park with high visibility and foot traffic.
      633-655 Central Ave, Highland Park, IL
      View Details
    • Contact for pricing
      4,112 SF

      Restaurant Space in Highland Park

      Restaurant space available for rent in thriving north suburban market.
      565 Roger Williams Ave, Highland Park, IL
      View Details
    • $2,500/Mo
      800 SF

      Retail Space in Ravinia District

      Prime retail space with full basement and parking.
      597-599 Roger Williams Ave, Highland Park, IL
      View Details
    • $25 SF/Yr
      1,263 SF

      Highland Park Office Space Available

      Office spaces for rent in Highland Park, Illinois.
      478 Central Ave, Highland Park, IL
      View Details
    • $2,100/Mo
      1,700 SF

      Retail Space on Central Avenue

      1,700 SF retail space in Highland Park, Illinois.
      716 Central Ave, Highland Park, IL
      View Details
    • Contact for pricing
      7,000 SF

      Highland Park Medical/Retail Opportunity

      Premier property in downtown Highland Park with flexible space.
      1899 2nd St, Highland Park, IL 60035
      View Details
    • Contact for pricing
      1,710 SF

      Highland Park Co-Working/Flex Space

      Co-working/flex-use space in Highland Park near Highwood Station.
      SEC of Green Bay & Elm Place, Highland Park, IL 60035
      View Details

    FAQs

    What type of property is this?
    Office units - Class A office space in downtown Highland Park for rent.
    Where is this office units located?
    The property is located at 1849 Green Bay Rd Highland Park, IL.
    What are key features of this property?
    This property features: Class A office space in downtown Highland Park.; On‑site parking garage.; One block from Highland Park Metra Station.
    (312) 698-6700 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing James (Jim) Schutter
    James (Jim) Schutter
    Real Estate License ID: #475.156642
    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
    1849 Green Bay Rd, Highland Park, IL
    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!