Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Crystal Lake Retail Storefront For Rent Title is generated by Realmo AI

    450 Route 31 Highway, Crystal Lake, IL 60012

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    COMMERCIAL - Crystal Lake, IL

    Type:Retail
    Property size:
    2,649 SF
    Added:
    Mar 13, 2026
    Days on Market:
    65
    Last Refresh:
    May 16 at 9:06 pm

    Property Features for 450 Route 31 Highway

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Zoning
    RTAIL
    Standard status
    Active
    Size
    2,649 SF

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    45000

    Utilities

    Utilities
    Natural Gas Available
    Cooling system
    Central Air

    Building Details

    Year built
    2007
    Floors in Building
    1
    Number of units
    6
    Building materials
    Brick
    Roof type
    Composition

    We can help!

    Listing Contact
    Nyssa Fenske
    Nyssa Fenske

    Listing agent Nyssa Fenske License #475184517

    Listing office Keller Williams Success Realty 600 Hart Rd. #105, Barrington, IL

    Listing date Mar 13, 2026

    MLS# 12591836

    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

    • Strategically located with exceptional visibility and accessibility
    • High‑traffic location: just two blocks north of the Route 31 and Route 176 intersection
    • Ample outdoor parking
    • Built in 2007
    • Benefit from 11‑foot ceilings
    • Central air conditioning

    Overview

    This strategically located 2,649 SF retail storefront in Crystal Lake offers exceptional visibility and accessibility. Constructed in 2007, the unit features 11-foot ceilings and central air. The property is situated just two blocks north of the intersection of Route 31 and Route 176. Zoned B2, this unit is available on a Triple Net Lease at $15/SF/Y, with estimated CAM and real estate taxes each at approximately $3/SF/Y. Ample outdoor parking is available. Tenants are responsible for all utilities. The property is located in a well-established mixed-use area.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Map

    City
    Crystal Lake
    County
    McHenry
    State
    Illinois
    Longitude
    -88.31
    Latitude
    42.2766

    Nearby Similar for Lease

    • $18 SF/Yr
      300 SF

      Upscale Office Space Available

      Efficient, semi-furnished office suite with included utilities and amenities.
      1145 Mitchell Court #213, Crystal Lake, IL 60014
      View Details
    • $16 SF/Yr
      1,610 SF

      Medical/Professional Office Space Available

      1,610 SF office suite for medical or professional use.
      333 Commerce Drive #600, Crystal Lake, IL 60014
      View Details
    • $20 SF/Yr
      1,300 SF

      Retail Storefront on Route 14

      In-line retail space with signage and shared parking.
      384 W Virginia Street, Crystal Lake, IL 60014
      View Details
    • $4 SF/Yr
      2,400 SF

      Renovated Office Space on Route 14

      2,400 SF office space ideal for dance, martial arts.
      25 S Virginia St, Crystal Lake, IL
      View Details
    • $14 SF/Yr
      8,800 SF

      Crystal Lake Office/Medical Suite

      4,000 SF office/medical suite with high-end finishes and bonus basement.
      80 N. Virginia Street, Crystal Lake, IL 60014
      View Details
    • $17 SF/Yr
      23,242 SF

      Renovated Office and Medical Suites

      Office and medical suites available in Crystal Lake, Illinois.
      651 W Terra Cotta Avenue, Crystal Lake, IL 60014
      View Details
    • $15 SF/Yr
      878 SF

      Retail Space with Drive-Thru

      Retail space with drive-thru, divisible, high-traffic location.
      650 E Terra Cotta Ave, Crystal Lake, IL
      View Details
    • $18 SF/Yr
      1,200 SF

      Well-Maintained Office Suite Available

      1,200 SF office suite ideal for professional services.
      521 Devonshire Lane #B, Crystal Lake, IL 60014
      View Details
    • $15 SF/Yr
      3,600 SF

      Downtown Crystal Lake Office Suite

      3,600 SF office suite in downtown Crystal Lake.
      70 N Williams Street, Crystal Lake, IL 60014
      View Details
    • $24 SF/Yr
      500 SF

      Furnished Office Space For Rent

      Furnished 500 SF office suite in walkable downtown location.
      27 N Main Street, Crystal Lake, IL 60014
      View Details
    • Contact for pricing

      Commercial Space in Crystal Lake

      Commercial space for rent in Crystal Lake, Illinois.
      850 S Mchenry Avenue, Crystal Lake, IL 60014
      View Details
    • $7 SF/Yr
      3,000 SF

      Heated Storage Space Available

      Functional storage space with drive-in door and concrete floors.
      6114 Lou Street #1, Crystal Lake, IL 60014
      View Details

    FAQs

    What type of property is this?
    Storefront property - 2,649 SF retail space with high visibility and accessibility.
    Where is this storefront property located?
    The property is located at 450 Route 31 Highway Crystal Lake, IL.
    What are key features of this property?
    This property features: Strategically located with exceptional visibility and accessibility; High‑traffic location: just two blocks north of the Route 31 and Route 176 intersection; Ample outdoor parking
    (847) 381-9500
    We can help!
    Listing Contact
    Nyssa Fenske
    Nyssa Fenske
    Real Estate License ID: 475184517
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    450 Route 31 Highway, Crystal Lake, IL 60012
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!