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    Western Springs Commercial Space Available Title is generated by Realmo AI

    901 Burlington Avenue, Western Springs, IL 60558

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    COMMERCIAL - Western Springs, IL

    Type:Office
    Property size:
    850 SF
    Added:
    May 14, 2026
    Days on Market:
    3
    Last Refresh:
    May 16 at 11:06 pm

    Property Features for 901 Burlington Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    OFFIC
    Standard status
    Active
    Size
    850 SF

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1926
    Floors in Building
    2
    Building materials
    Brick

    We can help!

    Listing Contact
    Thoma Socrates Panos

    Listing agent Thoma Socrates Panos License #475211627

    Listing office Pearson Realty Group 1000 N. MILWAUKEE AVE, Chicago, IL

    Listing date May 14, 2026

    MLS# 12648620

    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

    • Turnkey hair salon with existing plumbing and kitchenette.
    • Rent includes electricity, heat, AC, and water.
    • Unmatched commuter convenience directly across from the Western Springs Metra station.
    • Option to combine with adjacent unit for a total of approximately 850 sq ft.
    • Elevator‑served building with abundant street parking.
    • Situated in charming Old Town, above BMO, offering visibility and prestige.

    Overview

    A built-out hair salon is available for rent. The suite includes a kitchenette and existing plumbing infrastructure, presenting a turnkey opportunity for similar businesses. The rent covers electricity, heat, AC, and water. The space can be combined with unit 2BR, which is approximately 400 square feet, to create a total area of approximately 850 square feet. Located on the second floor above BMO and directly across from the Western Springs Metra station in Old Town, the property offers commuter convenience, visibility, and prestige. Multiple suites are available, ranging from approximately 400 to 1,900 square feet, providing flexibility for established firms and growing businesses. The building is elevator-served and offers street parking directly in front, enhancing accessibility for clients and employees. These offices combine a professional presence with the charm and accessibility of a walkable downtown setting. The property is zoned OFFIC and suitable for office units, office properties and spaces, spa and wellness properties, healthcare properties, and general commercial real estate use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wieczorek Lawrence M Foster Care Service Gildea & Coghlan Law Firm Bresnahan Lin Foster Care Service BMO Bank N.A ... Bank BMO Harris Bank ... Loan Service

    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
    Western Springs
    County
    Cook
    State
    Illinois
    Longitude
    -87.9007622
    Latitude
    41.8087516

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    FAQs

    What type of property is this?
    Office units - Turnkey salon space for rent in Western Springs, Illinois.
    Where is this office units located?
    The property is located at 901 Burlington Avenue Western Springs, IL.
    What are key features of this property?
    This property features: Turnkey hair salon with existing plumbing and kitchenette.; Rent includes electricity, heat, AC, and water.; Unmatched commuter convenience directly across from the Western Springs Metra station.
    (773) 325-2800
    We can help!
    Listing Contact
    Thoma Socrates Panos
    Real Estate License ID: 475211627
    Learn More
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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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