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    1220 Mdw Rd Northbrook, IL 60062

    Sponsored
    For Sale
    $2,950,000

    Downtown Northbrook, High NOI, 8.01% Cap Rate

    Property size:
    16,659 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This three-story, 16,659 square foot medical office building in downtown Northbrook, IL, presents a compelling investment opportunity. Boasting an 8.01% cap rate and a strong NOI of $236,309, the property is anchored by five established dental and orthodontic practices, a Huntington Bank branch, and Franz Jewelers. The building, constructed in 1979, sits on a 0.84-acre lot and offers ample parking. A 1,150 square foot move-in-ready medical suite with sinks and abundant natural light is currently available. Conveniently located near the Northbrook Metra station, Village Hall, library, and numerous restaurants and retailers, this property benefits from a prime downtown location and high visibility. The building also includes a lower-level conferencing room and basement storage. The current occupancy is 94%, with potential for 100% occupancy. This property offers a blend of stable income and significant upside potential in a highly desirable location. The asking price is $2,950,000.

    Property Features for 1220 Mdw Rd

    General Information

    Property type
    Medical offices
    Square Feet
    16,659 SF
    Lot Size
    36,590 SF

    Building Details

    Year Built
    1979
    Stories
    3

    HighLights

    • Strong rent roll anchored by five dental/orthodontic practices, Huntington Bank, and Franz Jewelers.
    • Prime Northbrook, IL location near Metra station, Village Hall, library, and numerous amenities.
    • 1,150 SF move‑in ready medical suite with sinks and abundant natural light.
    • Financing available through Marcus & Millichap Capital Corporation.
    • Lower‑level conferencing room.
    • Ample parking and basement storage.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Northbrook
    County
    Cook
    State
    Illinois
    Longitude
    -87.8286871
    Latitude
    42.1305059

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    FAQs

    What type of property is this?
    Medical office - Downtown Northbrook, High NOI, 8.01% Cap Rate
    Where is this medical office located?
    The property is located at 1220 Mdw Rd Northbrook, IL.
    What is the asking price?
    The asking price for this property is $2,950,000.
    What are key features of this property?
    This property features: Strong rent roll anchored by five dental/orthodontic practices, Huntington Bank, and Franz Jewelers.; Prime Northbrook, IL location near Metra station, Village Hall, library, and numerous amenities.; 1,150 SF move-in ready medical suite with sinks and abundant natural light.
    Request Owner's contact information
    1220 Mdw Rd Northbrook, IL 60062
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    Northbrook, IL 60062
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    Realmo Value Estimation

    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.

    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.

    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
    1220 Mdw Rd Northbrook, IL 60062
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