Two-Story Office
734 Central Ave. Highland Park, IL 60035
734 Central Ave., Highland Park, IL, 60035
Contact for pricing
For Sale
Contact for pricing
Two-story office building with a full finished basement on a corner site in Highland Park.
Property Size6,400 SF
Lot Size0.23 Acres
Price / SF$217.97
Days on Market35
Property Features for 734 Central Ave.
General Information
- Standard status
- Active
- Size
- 6,400 SF
- Lot size
- 0.23 Acres
- Property subtype
- Office
Listing agency
Millennium Properties R/E
(312) 338-3000
Listed by
Susan Silver · License #IL 475136992
Source
Crexi
Added: Jun 17 Updated: Jul 21 at 1:50PM Checked: Jul 21 at 1:50PM
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 Millennium Properties R/E
Investment Insights
Based on property information with market context.
Available for sale, this two-story office building totals 6,400 square feet and includes a full finished basement, set on a 10,000 square foot site. The first floor is currently occupied by Trans World Travel, and the second floor is occupied by Chausow Shafer P.C., which is on a month-to-month lease.
The property sits at the corner of Central and McGovern Avenues with visibility along the main thoroughfare in Highland Park. The location is positioned near the area’s central business district and benefits from nearby shops, restaurants, and public transportation.
In addition to office use, the property is described as having potential for residential redevelopment with city approval.
The property sits at the corner of Central and McGovern Avenues with visibility along the main thoroughfare in Highland Park. The location is positioned near the area’s central business district and benefits from nearby shops, restaurants, and public transportation.
In addition to office use, the property is described as having potential for residential redevelopment with city approval.
Key Highlights
- 6,400 SF two‑story office building with a full finished basement on a 10,000 SF corner site
- Corner of Central and McGovern Avenues in Highland Park, located on the main thoroughfare
- First floor is leased to Trans World Travel
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $156.7k | $24.48 |
| − Vacancy | −$39.0k | −$6.10 |
| EGI | $117.7k | $18.38 |
| − OpEx | −$29.4k | −$4.60 |
| NOI | $88.2k | $13.79 |
6,400 SF · lease $24.48/SF/yr · vacancy 24.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.26M
$1.10M – $1.47M
NOI $88,246 @ 7.0% cap · market cap 6.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.21M
$1.93M – $2.58M
NOI $154,674 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Starkopf & Silverman
Law Firm
Central Avenue Printing
Marketing & Advertising
Trans World Travel ...
Travel Agency
Sage Counsel Family ...
Law Firm
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FAQs
What type of property is this?
Office building - Two-story office building with a full finished basement on a corner site in Highland Park.
Where is this office building located?
The property is located at 734 Central Ave. Highland Park, IL.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: 6,400 SF two‑story office building with a full finished basement on a 10,000 SF corner site; Corner of Central and McGovern Avenues in Highland Park, located on the main thoroughfare; First floor is leased to Trans World Travel
