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    Office Building in Hillside, IL Title is generated by Realmo AI

    4415 West Harrison, Hillside, IL 60624

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    Office building with convenient access to major expressways and amenities.

    Type:Office
    Added:
    Sep 2, 2021
    Days on Market:
    1737
    Last Refresh:
    May 12 at 10:53 pm

    Property Features for 4415 West Harrison

    General Information

    Standard status
    Active
    Property subtype
    Office

    Spaces For Lease

    at 4415 West Harrison Contact us

    Suite 242 $16/Mo

    Size
    1,220 SF
    Type
    Office
    Suite has two offices, an open area for workstations, a sink, and a closet
    Contact us

    Suite 243 $16/Mo

    Size
    1,718 SF
    Type
    Office
    Suite has three offices, a conference room, a kitchen, a storage room, and an open...
    show more
    Contact us

    Suite 244 $16/Mo

    Size
    1,020 SF
    Type
    Office
    Suite has two offices, an open area for workstations, and a sink
    Contact us

    Suite 247 $16/Mo

    Size
    1,644 SF
    Type
    Office
    Suite has three interior offices, a large conference room, a storage room, and an...
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    Suite 248 $16/Mo

    Size
    1,981 SF
    Type
    Office
    Newly remodeled suite has three private offices, a conference room, and an open area...
    show more
    Contact us

    Suite 308 $16/Mo

    Size
    1,105 SF
    Type
    Office
    Suite has three interior offices, a large conference room, a storage room, and open...
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    Suite 309 $16/Mo

    Size
    2,650 SF
    Type
    Office
    Suite has four offices, an open area for workstations, a storage room, and a large...
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    Suite 318 $16/Mo

    Size
    395 SF
    Type
    Office
    Suite is a one room office with a window and a closet.
    Contact us

    Suite 324 $16/Mo

    Size
    848 SF
    Type
    Office
    Suite has one office with a window, an interior room, and an open space.
    Contact us

    Suite 355 $16/Mo

    Size
    1,930 SF
    Type
    Office
    The suite features a spacious open area that can accommodate additional offices and...
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    Suite 425 $16/Mo

    Size
    691 SF
    Type
    Office
    Suite has two offices, a closet, and an open area for workstations/desks.
    Contact us

    Suite 427 $16/Mo

    Size
    1,416 SF
    Type
    Office
    Suite has three offices, a closet, a sink, and an open area for workstations/desks.
    Contact us

    Suite 448 $16/Mo

    Size
    4,078 SF
    Type
    Office
    Suite has five interior offices, large bullpen areas, a conference room, a kitchen,...
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    Suite 500 $16/Mo

    Size
    1,100 SF
    Type
    Office
    The suite has three offices and an open area for workstations
    Contact us

    Suite 503 $16/Mo

    Size
    1,078 SF
    Type
    Office
    Suite features two window-line offices, open space for desks, and a closet.
    Contact us

    Suite 529 $16/Mo

    Size
    1,573 SF
    Type
    Office
    Suite has three offices, a kitchen, and an open area for workstations/desks.
    Contact us

    Suite 531 $16/Mo

    Size
    2,038 SF
    Type
    Office
    Suite has four offices, a kitchen, and an open area for workstations/desks.
    Contact us

    Suite 544 $16/Mo

    Size
    1,500 SF
    Type
    Office
    The suite has three offices and a spacious open area.
    Contact us
    Show more

    We can help!

    Listing Contact
    Larry Meyer

    Listing agent Larry Meyer License #IL

    Listing office Marc Realty

    Listing date Sep 2, 2021

    Source Crexi

    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 Marc Realty

    HighLights

    • Easy access to expressways I‑290, I‑294, and I‑88 for convenient travel.
    • Benefit from on‑site full‑service management and engineer.
    • 24‑hour electronic access.
    • Conference/training room available.
    • Two indoor parking garages and outdoor parking.
    • Numerous dining, hotels, and shopping options nearby.

    Overview

    The building at 4415 West Harrison is situated in Hillside, Illinois, a southwest suburb of Chicago. It offers a conference/training room and a tenant vending lounge. The property provides 24-hour electronic access, full-service management, and an on-site engineer. Parking options include two indoor parking garages and outdoor parking. The building benefits from high visibility and convenient access to expressways I-290, I-294, and I-88, facilitating travel to Downtown Chicago, O’Hare Airport, and the north and west suburbs. Numerous dining, hotels, and shopping options are located within a half-mile radius.
    Property Profile Location Intelligence

    Current Use by Public Records

    RCS CPAs Accounting Firm Mac Brady Associates ... Building Consultant M3 Financial Services Accounting Firm JAC Enterprise Global ... Business Management Consultant ICPN the Hope Institute Social Service Agency

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Hillside
    County
    Cook
    State
    Illinois
    Longitude
    -87.8925624
    Latitude
    41.8687161

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    FAQs

    What type of property is this?
    Office building - Office building with convenient access to major expressways and amenities.
    Where is this office building located?
    The property is located at 4415 West Harrison Hillside, IL.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: Easy access to expressways I‑290, I‑294, and I‑88 for convenient travel.; Benefit from on‑site full‑service management and engineer.; 24‑hour electronic access.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Larry Meyer
    Real Estate License ID: IL
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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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