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    222 Prospect Ave Unit 3RD, Park Ridge, IL 60068

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    Discover many ways to work your way in DC, Washington - 600 Mass Ave

    Added:
    Feb 19, 2026
    Days on Market:
    92
    Last Refresh:
    May 15 at 6:38 am

    Property Features for 222 Prospect Ave Unit 3RD

    General Information

    Standard status
    Active
    Property type
    Office Spaces, Coworking space, Flex space, Specialty properties
    Rate Type
    Monthly

    Amenities

    24 Hour Access
    Air Conditioning
    Breakroom
    Business Center
    Close to Public Transportation
    Conference Rooms
    Controlled Access
    Elevator
    Fiber Optic Internet
    Furnished Units Available
    Internet
    Lounge
    Meeting Event Space
    On-Site Security Staff
    Online Services
    Package Service
    Reception
    Recycling
    Storage Space
    Wheelchair Accessible
    Wi-Fi

    Spaces For Lease

    at 222 Prospect Ave Unit 3RD Contact us

    Office for 1 $418/Mo

    Size
    86-538 SF
    Type
    Office for 1
    Office space for rent for 1 person in IL, Park Ridge - Prospect Ave
    Contact us

    Office for 2 $598/Mo

    Size
    108-538 SF
    Type
    Office for 2
    Office space for rent for 2 persons in IL, Park Ridge - Prospect Ave
    Contact us

    Office for 3 $969/Mo

    Size
    162-646 SF
    Type
    Office for 3
    Office space for rent for 3 persons in IL, Park Ridge - Prospect Ave
    Contact us

    Office for 4 $1,195/Mo

    Size
    215-646 SF
    Type
    Office for 4
    Office space for rent for 4 persons in IL, Park Ridge - Prospect Ave
    Contact us

    Office for 5 $1,567/Mo

    Size
    323-807 SF
    Type
    Office for 5
    Office space for rent for 5 persons in IL, Park Ridge - Prospect Ave
    Contact us

    Membership CW $129/Mo

    Size
    54-108 SF
    Type
    Membership CW
    Flexible coworking memberships for rent in IL, Park Ridge - Prospect Ave
    Contact us

    Membership office $235/Mo

    Size
    86-108 SF
    Type
    Membership office
    Flexible office memberships in IL, Park Ridge - Prospect Ave
    Contact us

    Coworking $189/Mo

    Size
    108-328 SF
    Type
    Coworking
    Coworking space for rent in IL, Park Ridge - Prospect Ave
    Contact us

    Office for +10 $3,133/Mo

    Size
    484-1184 SF
    Type
    Office for +10
    Open office space to rent for 10 persons in IL, Park Ridge - Prospect Ave
    Contact us

    Office for +15 $5,098/Mo

    Size
    1076-1292 SF
    Type
    Office for +15
    Open office space to rent for 15 persons in IL, Park Ridge - Prospect Ave
    Contact us

    Virtual office $245/Mo

    Size
    11-54 SF
    Type
    Virtual office
    Virtual office rental in IL, Park Ridge - Prospect Ave
    Contact us
    Show more

    We can help!

    Listing Contact
    Regus USA
    Regus USA

    Listing agent Regus

    Listing office

    Listing date Feb 19, 2026

    HighLights

    • Be part of a vibrant coworking community with dedicated desk or hot desking options in thousands of idyllic locations across the globe
    • Grow in a modern workplace with the added advantage of a benefits program offering exclusive discounts and bespoke procurement support
    • Access Signature' network of workspaces and business lounges as often as you need and take advantage of their exclusive benefits
    • Impress clients, hold memorable workshops, and deliver a winning pitch in Signature' meeting spaces, fully equipped for gatherings of any size
    • Collaborate with like‑minded professionals and enjoy regular networking and community events with a Signature membership
    • Claim a virtual address in any of the prestigious locations around the world with mail handling services and a virtual assistant to answer calls
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Christina DC Beauty ... Hair Salon Certified Registered Nurse ... Medical Clinic Anesthesia Facts Medical Clinic Signature by Regus Real Estate Agency Chicago Financial Coaching Financial Advisor

    Suggested Use

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

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

    Similar Places Nearby

    • Payson Solutions Group — 350 S NW Hwy, Park Ridge, IL 60068
    • StarSeed Technology Corp — 350 S NW Hwy, Park Ridge, IL 60068
    • Amazing Tech Support to your home or business — 147 1/2 Vine Ave, Park Ridge, IL 60068
    • QuantumTechSystems — 147 1/2 Vine Ave, Park Ridge, IL 60068
    • Identity Potential, Inc. — 350 s nw hwy, park ridge, il 60068

    Location Insight

    • Map
    • Local Demand
    City
    Park Ridge
    County
    Cook
    State
    Illinois
    Longitude
    -87.83339
    Latitude
    42.00836

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    FAQs

    What type of property is this?
    Office space - Discover many ways to work your way in DC, Washington - 600 Mass Ave
    Where is this office space located?
    The property is located at 222 Prospect Ave Unit 3RD Park Ridge, IL.
    What are key features of this property?
    This property features: Be part of a vibrant coworking community with dedicated desk or hot desking options in thousands of idyllic locations across the globe; Grow in a modern workplace with the added advantage of a benefits program offering exclusive discounts and bespoke procurement support; Access Signature' network of workspaces and business lounges as often as you need and take advantage of their exclusive benefits
    (972) 764-8885
    We can help!
    Listing Contact
    Regus USA
    Regus USA
    Learn More
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    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
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