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    Move-in Ready Office Suites Title is generated by Realmo AI

    675 N North Ct, Palatine, IL 60067

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    Professional office suites in a well-established Palatine office park.

    Type:Office
    Added:
    Oct 4, 2024
    Days on Market:
    609
    Last Refresh:
    May 12 at 8:55 pm

    Property Features for 675 N North Ct

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1980

    Spaces For Lease

    at 675 N North Ct Contact us

    Suite 180 $22/Mo

    Size
    2,731 SF
    Type
    Office
    Move-In Ready: Fully built-out medical suite available now for immediate occupancy.n-4...
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    Contact us

    Suite 205 $25/Mo

    Size
    314 SF
    Type
    Office
    Single Private Office with a Shared Lobby and Shared Conference Roomn- Listed rate...
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    Contact us

    Suite 222 $22/Mo

    Size
    311 SF
    Type
    Office
    Single Private Office with a Shared Lobby and Shared Conference Roomn- Listed rate...
    show more
    Contact us

    Suite 272 $20/Mo

    Size
    274 SF
    Type
    Office
    - Listed rate may not include certain utilities, building services and property expensesn-...
    show more
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    Suite 320 $18/Mo

    Size
    1,213 SF
    Type
    Office
    - Fully Built-Out as Standard Officen- Space is in Excellent Conditionn- 3 Private...
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    Contact us

    Suite 360 $18/Mo

    Size
    1,068 SF
    Type
    Office
    - Fully Built-Out as Standard Officen- 2 private officesn- Space is in Excellent...
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    Contact us
    Show more

    We can help!

    Listing Contact
    Ryan Moats

    Listing agent Ryan Moats License #FLBO

    Listing office Moats Office Properties

    Listing date Oct 4, 2024

    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 Moats Office Properties

    HighLights

    • Move‑in ready, flexible suites suitable for medical, dental, technology, and professional service users.
    • Excellent location in the Office Park of Palatine with high visibility and monument signage.
    • Strong regional accessibility: under an hour to downtown Chicago and 25 minutes to O'Hare Airport.
    • Surrounded by major national retailers (Target, Jewel‑Osco, Walmart, etc.) offering convenience for staff and clients.
    • On‑site property management and 24/7 secure access.
    • Energy‑efficient upgrades and tenant‑controlled HVAC.

    Overview

    Located within the well-established Office Park of Palatine, the property at 675 N North Court offers a professional, move-in–ready environment suitable for medical, dental, technology, and professional service users. The property provides flexible, turnkey suites supported by modern amenities and regional accessibility. Tenants benefit from conveniences, including 24/7 secure access, on-site property management, energy-efficient upgrades, tenant-controlled HVAC, and multiple high-speed internet options, including DSL, cable, Comcast, and fiber optic. Flexible layouts are tailored for either medical or professional office use. Building and monument signage enhances visibility within a high-traffic suburban corridor. The location is surrounded by major national retailers, including Target, Jewel-Osco, Walmart, Best Buy, TJ Maxx, and The Home Depot. The surrounding five-mile radius boasts an average household income of $127,415. Downtown Chicago is under an hour away, and O’Hare International Airport is just 25 minutes from the property.
    Property Profile Location Intelligence

    Current Use by Public Records

    Foot Care Consultants Medical Clinic ERP Optimizers Consultant Doug Gow Real ... Real Estate Agency Wotal James A. Law Firm Pathway Nutrition Services Physician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Palatine
    County
    Cook
    State
    Illinois
    Longitude
    -88.0371228
    Latitude
    42.1213705

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    FAQs

    What type of property is this?
    Medical Office Space - Professional office suites in a well-established Palatine office park.
    Where is this medical office space located?
    The property is located at 675 N North Ct Palatine, IL.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: Move‑in ready, flexible suites suitable for medical, dental, technology, and professional service users.; Excellent location in the Office Park of Palatine with high visibility and monument signage.; Strong regional accessibility: under an hour to downtown Chicago and 25 minutes to O'Hare Airport.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Ryan Moats
    Real Estate License ID: FLBO
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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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