Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    241 Commerce Dr Crystal Lake, IL

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space for lease with tenant improvement packages.

    Property size:
    3,530 SF
    Lot size:
    0.74 Acres

    Property Features for 241 Commerce Dr

    General Information

    Size
    3,530 SF
    Lot size
    0.74 Acres

    We can help!

    Listing Contact
    Tim Billimack
    Tim Billimack
    Source: Moodyscre

    Listing Agency: Blue Chip Commercial Listing Agent: Tim Billimack

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Crystal Lake Office Space Available

    This property offers office spaces for lease, including the availability of a full floor. Tenant improvement packages are available. The building is suitable for doctor groups and general office users. Located with visibility from Route 176 (Terra Cotta Ave.), the property offers building signage opportunities for a full floor user. New ownership is implementing capital improvements. The ownership can build out a medical suite to suit based on tenant credit and term. The available space is up to 3,777 square feet.
    Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Real Estate Agency Restaurant Law Firm 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

    Animal Medical Center of Crystal Lake, Koons Robbie DVM, Bettcher Mark P DVM

    Location Insight

    • Map
    • Local Demand
    City
    Crystal Lake
    County
    McHenry
    State
    Illinois
    Longitude
    -88.314212
    Latitude
    42.2731962

    Nearby Similar for Lease

    • Contact for pricing
      56,628 SF

      Updated Office Suite in Crystal Lake

      Move-in ready office suite for professional, medical, or service businesses.
      850 S Mchenry Ave, Crystal Lake, IL 60014
      View Details
    • Contact for pricing

      Storefront on High Visibility Route

      1200 sq ft storefront on 6000 sq ft lot.
      430 W Virginia St, Crystal Lake, IL 60014
      View Details
    • Contact for pricing

      Crystal Lake Office Space Available

      1200 sq ft office space for lease.
      430 W Virginia St, Crystal Lake, IL 60014
      View Details
    • Contact for pricing
      39,640 SF

      Commercial Space on Route 14

      Highly visible commercial space ideal for offices or retail.
      181 N Virginia St, Crystal Lake, IL 60014
      View Details
    • New
      Contact for pricing

      Crystal Lake Retail Storefront For Rent

      2,649 SF retail space with high visibility and accessibility.
      450 Rte 31 Hwy, Crystal Lake, IL 60012
      View Details
    • Contact for pricing
      261,600 SF

      Retail Space Near Route 176

      Conveniently located retail space with high visibility and monument signage.
      4410 Il Rte 176 Hwy, Crystal Lake, IL 60014
      View Details
    • $16 SF/Yr

      Medical/Professional Office Space Available

      1,610 SF office suite for medical or professional use.
      333 Commerce Dr, Crystal Lake, IL 60014
      View Details
    • Contact for pricing

      Retail Space Near Route 176

      Conveniently located retail space with high visibility and signage.
      4410 Il Rte 176 Hwy, Crystal Lake, IL 60014
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Office space for lease with tenant improvement packages.
    Where is this medical office space located?
    The property is located at 241 Commerce Dr Crystal Lake, IL.
    What are key features of this property?
    This property features: - Generous TI packages available; - New ownership with many capital improvements!; - Ownership able to build out medical suite to suit based on tenant credit and term
    (815) 355-0196 Call to check price and availability
    Request Owner's contact information
    241 Commerce Dr Crystal Lake, IL
    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.
    241 Commerce Dr
    Crystal Lake, IL
    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
    241 Commerce Dr Crystal Lake, IL
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Tim Billimack
    Tim Billimack
    (815) 355-0196
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!