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    Olympia Fields Commercial Space Title is generated by Realmo AI

    2555 W Lincoln Highway, Olympia Fields, IL 60461

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    Picture of Medical Office Space at 2555 W Lincoln Highway, Olympia Fields, IL
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    COMMERCIAL - Olympia Fields, IL

    Type:Office
    Added:
    Mar 18, 2026
    Days on Market:
    61
    Last Refresh:
    May 17 at 11:06 am

    Property Features for 2555 W Lincoln Highway

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    COMMR
    Standard status
    Active

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1985
    Floors in Building
    2

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    Listing Contact
    Al Vallejo
    Al Vallejo

    Listing agent Al Vallejo License #471011352

    Listing office Village Realty, Inc. 20950 S. Frankfort Sq Rd # C, Frankfort, IL

    Listing date Mar 18, 2026

    MLS# 12595669

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Highly visible location with high traffic count (43,000 per day).
    • Elevator building offering security and professionalism.
    • Ideal for Medical or Professional use.
    • Easy access to I57, I88, Route 30, 294 and 394.
    • Located between Kedzie Ave. and Western Ave.
    • Close to shopping, restaurants, walking trails, golf and recreational facilities.

    Overview

    This two-story brick building in Olympia Fields, Illinois, features an elevator and offers a secure and professional environment. The property is situated in a highly visible and accessible location with traffic counts around 43,000 per day. Located between Kedzie Avenue and Western Avenue, it is suitable for medical or professional tenants. The building provides convenient access to I-57, I-88, Route 30, 294, and 394. Shopping, restaurants, walking trails, golf courses, and recreational facilities are nearby.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bara Tax & Financial ... Tax Preparation Olympian Orthodontic X-Ray Dental Office Michael Harris, MD Physician GDA for KIDS, Inc. Physician Gordon Dental Associates Dental Office

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Olympia Fields
    County
    Cook
    State
    Illinois
    Longitude
    -87.6787418
    Latitude
    41.5066671

    Nearby Similar for Lease

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      Olympia Fields Commercial Space

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      2555 W Lincoln Highway, Olympia Fields, IL 60461
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      Olympia Fields Professional/Medical Space

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      Olympia Fields Office Space Available

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      1,300 SF

      Retail Building on High-Traffic Corner

      1,300 SF freestanding building on a 17,570 SF lot.
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      38,628 SF

      Olympia Fields Office Space Available

      Office space for rent in Olympia Fields, Illinois.
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      Flexible Workspace Solutions Available

      Global network of workspaces with tailored options for rent.
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    FAQs

    What type of property is this?
    Medical Office Space - Two-story brick building ideal for medical or professional use.
    Where is this medical office space located?
    The property is located at 2555 W Lincoln Highway Olympia Fields, IL.
    What are key features of this property?
    This property features: Highly visible location with high traffic count (43,000 per day).; Elevator building offering security and professionalism.; Ideal for Medical or Professional use.
    (708) 478-1212
    We can help!
    Listing Contact
    Al Vallejo
    Al Vallejo
    Real Estate License ID: 471011352
    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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