For Sale
$425,000
287 Peterson Rd, Libertyville, IL 60048
Prime Corner Medical / Commercial Property with Exceptional Visibility
Property Size2,450 SF
Price / SF$173.47
Days on Market353
Property Features for 287 Peterson Rd
General Information
Standard status
Active
Property type
Office Units, Medical space, Other retail properties, Office Spaces, Healthcare properties, Retail properties & Spaces
Size
2,450 SF
Class
B
Total Parking Spaces
10
Elevators
N/A
Investment Type
Owner User
Building Details
Year Built
1987
Year Renovated
2025
Buildings
1
Stories
1
Listing Agency:
(847) 312-2159
Listed By:
Muhammad
(847) 312-2159
Added: Sep 2, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
Key Highlights
- High‑Traffic, Established Commercial Center
- Recently Renovated, Corner Lot, Ample Parking, diverse mix of established businesses, creating consistent daily activity and a steady flow of customer traffic, Prime location with an average of ~ 32,000 VPD.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,486
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$709,720
$709.7K
Cap Rate 7%
$506,943
$506.9K
Cap Rate 9%
$394,289
$394.3K
Market Conditions
NOI Build-Up for 2,450 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$64.7K $26.40/SF
− Vacancy
−$5.5K −$2.26/SF
EGI
$59.1K $24.14/SF
− OpEx
−$23.7K −$9.66/SF
NOI
$35.5K $14.48/SF
Area
Lake County, IL
Vacancy
8.56%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$709,720
Cap Rate 7%
$506,943
Cap Rate 9%
$394,289
Alternative Uses
Best Use
Healthcare Medical
$506.9K
$443.6K – $591.4K
NOI $35,486 @ 7.0% cap · market cap 8.35%
Second Best
Office B
$482.6K
$422.3K – $563.0K
NOI $33,781 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$845.9K
$740.1K – $986.9K
NOI $59,211 @ 7.0% cap · market cap 13.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
789
Businesses Nearby
Explore this area
Business Placement
Demographics for 60048, IL
29,353
Population
10,826
Households
2.7
Avg Household Size
44
Median Age
71%
College-Educated
98%
High-School Grad
28.4 sq mi
ZIP Area
1,034
Density / Sq Mi
$169,283
Median Household Income
$83,333
Median Earnings
$1,569
Median Rent
$535,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Prime Corner Medical / Commercial Property with Exceptional Visibility
Where is this office units located?
The property is located at 287 Peterson Rd Libertyville, IL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: High‑Traffic, Established Commercial Center; Recently Renovated, Corner Lot, Ample Parking, diverse mix of established businesses, creating consistent daily activity and a steady flow of customer traffic, Prime location with an average of ~ 32,000 VPD.
