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    Professional Office/Medical Suite for Lease Title is generated by Realmo AI

    290 N Rand Road, Lake Zurich, IL 60047

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    For Lease
    $19 SF/Yr $1,979/Mo (calc)

    Well-appointed office/medical suite in Lake Zurich's desirable corridor.

    Type:Commercial
    Property size:
    1,250 SF
    Added:
    Mar 31, 2026
    Days on Market:
    65
    Last Refresh:
    Apr 1 at 9:01 pm

    Property Features for 290 N Rand Road

    General Information

    Standard status
    Active
    Size
    1,250 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1980

    We can help!

    Listing Contact
    DAKOTA NILSON
    DAKOTA NILSON

    Listing agent DAKOTA NILSON License #475193738

    Listing office @PROPERTIES COMMERCIAL

    Listing date Mar 31, 2026

    Source Corcoran

    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 @PROPERTIES COMMERCIAL

    HighLights

    • Prime location on Route 12 in a desirable Lake Zurich corridor with high visibility and strong daily traffic.
    • Well‑appointed and updated 1,250 Sq.Ft. office/medical suite in excellent condition, ready for immediate occupancy ('plug‑and‑play').
    • Functional layout with four private offices/treatment rooms, a dedicated private office, in‑suite restroom, and kitchenette.
    • Proximity to Lake Zurich and major national retailers (Jewel‑Osco, Starbucks, Chipotle, etc.) offering unique amenity value and convenience.
    • Well‑maintained professional building with attractive landscaping and ample on‑site parking.
    • Located in a professional, quiet setting with a stable and complementary business environment.

    Overview

    Located in a desirable area of Lake Zurich, 290 N Rand Road offers a 1,250-square-foot leasing opportunity in a professionally maintained building west of the lake and fronting Route 12. The property is surrounded by established businesses, including medical and boutique service providers, and provides a professional setting with accessibility and visibility. The available office/medical suite is suited for professional, medical, or wellness users. Currently configured as a psychologist's office, the functional layout includes four private offices or treatment rooms, a dedicated private office, an in-suite restroom, and a kitchenette. The suite is in excellent condition with fresh paint, newer carpet, and updated windows. The layout is suited for therapy, counseling, medical, wellness, or other professional service uses. The building is thoughtfully maintained with landscaping and on-site parking, and existing tenancy reflects a stable business environment. The property benefits from traffic and visibility on Route 12 and is located near major national retailers including Jewel-Osco, Starbucks, Chipotle, Life Time Fitness, Target, Walmart, Costco, and 7-Brew. Proximity to Lake Zurich adds amenity value. With access, demographics, and location, 290 N Rand Road presents an opportunity for a range of users.
    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 Auto Repair Shop

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

    Similar Places Nearby

    • Happy Paws Animal Hospital Lake Zurich IL — 187 S Rand Rd, Lake Zurich, IL 60047

    Location Insight

    • Map
    • Local Demand
    City
    Lake Zurich
    County
    Cook
    State
    Illinois
    Longitude
    -88.110852
    Latitude
    42.199766

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    FAQs

    What type of property is this?
    Medical Office Space - Well-appointed office/medical suite in Lake Zurich's desirable corridor.
    Where is this medical office space located?
    The property is located at 290 N Rand Road Lake Zurich, IL.
    What is the lease rate?
    The lease rate is $19 SF/Yr.
    What are key features of this property?
    This property features: Prime location on Route 12 in a desirable Lake Zurich corridor with high visibility and strong daily traffic.; Well‑appointed and updated 1,250 Sq.Ft. office/medical suite in excellent condition, ready for immediate occupancy ('plug‑and‑play').; Functional layout with four private offices/treatment rooms, a dedicated private office, in‑suite restroom, and kitchenette.
    (312) 337-0200
    We can help!
    Listing Contact
    DAKOTA NILSON
    DAKOTA NILSON
    Real Estate License ID: 475193738
    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.

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