Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Deerfield Retail Space Title is generated by Realmo AI

    655 Deerfield Road, Deerfield, IL 60015

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail space in a thriving Deerfield commercial corridor.

    Type:retail.street_retail
    Added:
    Mar 7, 2026
    Days on Market:
    92
    Last Refresh:
    Mar 7 at 7:08 pm

    Property Features for 655 Deerfield Road

    General Information

    Standard status
    Active
    Property subtype
    retail.street_retail

    We can help!

    Listing Contact
    Tim Henry
    Tim Henry

    Listing agent Tim Henry

    Listing office Avison Young - US - IL - Chicago

    Listing date Mar 7, 2026

    Source Avisonyoung

    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 Avison Young - US - IL - Chicago

    HighLights

    • Prime location in Deerfield, a well‑established commercial corridor with Fortune 500 neighbors.
    • Convenient access to transportation: minutes from I‑94, served by Metra's Milwaukee District North Line, and easily accessible to O'Hare International Airport.
    • Balance of suburban ease and corporate credibility, offering a focused yet connected environment.
    • Walkable retail, green spaces, and diverse dining options for both casual and formal occasions.
    • Proximity to a highly educated workforce and a thriving business community.
    • Close proximity to Deerfield Metra station (0.4 miles).

    Overview

    Located in Deerfield, at 655 Deerfield Road, this retail space offers a blend of suburban convenience and corporate presence. The property is situated within one of Chicago’s established commercial areas, near Fortune 500 companies and various amenities. The location provides walkable retail options, green spaces, and dining establishments suitable for both casual and formal meetings. Commuting is facilitated by its proximity to I-94 and the Metra Milwaukee District North Line, with the Deerfield Metra station located 0.4 miles away and the Lake Cook Metra Station 1.8 miles away. O’Hare International Airport is also easily accessible. The surrounding area features a highly educated workforce and a business community.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Deerfield
    County
    Lake
    State
    Illinois
    Longitude
    -87.8437909
    Latitude
    42.1666958

    Nearby Similar for Lease

    • $20 SF/Yr
      7,500 SF

      Regional Shopping Destination in Deerfield

      Regional shopping destination with specialty medical and office suites for lease.
      401-499 Lake Cook Road, Deerfield, IL 60015
      View Details
    • $25 SF/Yr
      21,206 SF

      Former Therapy Day School

      21,206 SF space ideal for educational, medical, community use.
      1161 Lake Cook Rd, Deerfield, IL 60015
      View Details
    • Contact for pricing
      63,000 SF

      Office Building Leasing Opportunity

      Office space is available for lease in Deerfield, offering a range of suite sizes to support growing teams.
      1405 Lake Cook Rd, Deerfield, IL 60015
      View Details
    • Contact for pricing
      15,000 SF

      Office Building Leasing Opportunity

      Flexible office space ranging from 15,000 to 30,000 SF is available for lease on Lake Cook Road.
      1407 Lake Cook Rd, Deerfield, IL 60015
      View Details
    • $18 SF/Yr
      517 SF

      Office Suite in Deerfield

      Office suite featuring a windowed office, open area, and closet.
      1020 Milwaukee Ave, Deerfield, IL
      View Details
    • $33 SF/Yr

      Private Office in Deerfield Park

      Private office space available for sublease in Deerfield industrial park.
      151 S Pfingsten Road #T, Deerfield, IL 60015
      View Details
    • Contact for pricing
      2,350 SF

      Second-Generation Restaurant Space

      Second-generation restaurant suite with abundant parking in Downtown Deerfield for a fast, buildable restaurant concept.
      636 Deerfield Rd, Deerfield, IL 60015
      View Details
    • Contact for pricing
      125,000 SF

      Deerfield Shopping Center Sublease Opportunity

      7,500 SF space available for sublease in Deerfield, Illinois.
      405 Lake Cook Rd, Deerfield, IL 60015
      View Details
    • $23 SF/Yr
      8,336 SF

      Office Space For Lease

      Office space available for lease in Deerfield, Illinois.
      540 Lake Cook Rd, Deerfield, IL
      View Details
    • $23 SF/Yr
      1,353 SF

      Office Space For Lease

      Office space available for lease in Deerfield, Illinois.
      510 Lake Cook Rd, Deerfield, IL
      View Details
    • Contact for pricing
      2,590 SF

      Retail Space on Waukegan Road

      High-visibility retail space in affluent North Shore market.
      190 South Waukegan Road, Deerfield, IL, 60015
      View Details
    • Contact for pricing
      4,640 SF

      Retail Space on Milwaukee Avenue

      Retail spaces available in Deerfield with high traffic volume.
      20050 Milwaukee Avenue, Deerfield, IL, 60015
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space in a thriving Deerfield commercial corridor.
    Where is this retail space located?
    The property is located at 655 Deerfield Road Deerfield, IL.
    What are key features of this property?
    This property features: Prime location in Deerfield, a well‑established commercial corridor with Fortune 500 neighbors.; Convenient access to transportation: minutes from I‑94, served by Metra's Milwaukee District North Line, and easily accessible to O'Hare International Airport.; Balance of suburban ease and corporate credibility, offering a focused yet connected environment.
    (312) 273-9481
    We can help!
    Listing Contact
    Tim Henry
    Tim Henry
    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
    655 Deerfield Road, Deerfield, Illinois 60015
    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!