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    400 Lake Cook Rd Deerfield, IL 60015

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    For Lease
    Contact for pricing

    Prime Deerfield Office Space, Multiple Suites Available

    Lot size:
    34,765 SF

    Property Features for 400 Lake Cook Rd

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    34,765 SF
    Class
    B
    Total Rate
    39834.9

    Building Details

    Year Built/Renovated
    1975/2016
    Buildings
    1
    Stories
    2

    Spaces For Lease

    at 400 Lake Cook Rd, Deerfield, IL 60015 Contact us
    Unit Available Space 21

    $16 /Mo

    Size
    805 SF
    Contact us
    Unit 200E

    $16 /Mo

    Size
    745 SF
    Contact us
    Unit 222-D

    $16 /Mo

    Size
    367 SF
    Contact us
    Unit 100A

    $13 /Mo

    Size
    1,874 SF
    Contact us
    Unit 108

    $16 /Mo

    Size
    1,057 SF
    Contact us
    Unit 109

    $13 /Mo

    Size
    587 SF
    Contact us
    Unit 112

    $15 /Mo

    Size
    1,132 SF
    Contact us
    Unit 200

    $13 /Mo

    Size
    2,111 SF
    Contact us
    Unit 200B

    $15 /Mo

    Size
    926 SF
    Contact us
    Unit 200A

    $16 /Mo

    Size
    1,046 SF
    Contact us
    Unit 200C

    $16 /Mo

    Size
    628 SF
    Contact us
    Unit 200D

    $16 /Mo

    Size
    745 SF
    Contact us
    Unit 202

    $16 /Mo

    Size
    1,230 SF
    Contact us
    Unit 207

    $16 /Mo

    Size
    668 SF
    Contact us
    Unit 215

    $16 /Mo

    Size
    1,035 SF
    Contact us
    Unit 221

    $15 /Mo

    Size
    575 SF
    Contact us
    Unit 222A

    $15 /Mo

    Size
    427 SF
    Contact us
    Unit 106

    $16 /Mo

    Size
    805 SF
    Contact us
    Unit 217

    $16 /Mo

    Size
    518 SF
    Contact us
    Unit 219

    $16 /Mo

    Size
    575 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Theron May
    Theron May

    Listing Agent: Theron May

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    The 400 Center, located at 400 Lake Cook Road in Deerfield, Illinois (zip code 60015), offers a diverse range of office spaces for lease. This Class B building, totaling 34,765 square feet, sits on a 5-acre lot and features a two-story structure built in 1975, extensively renovated in 2016. The property is zoned for commercial use and includes convenient amenities such as elevators and ample parking. Suites range from 367 to 2,111 square feet, catering to various business needs. The building accommodates multiple tenants. Its strategic location offers excellent accessibility. The Metra train station (Milwaukee District North Line) is directly across the street, providing convenient access to Union Station. Pace Bus route 626 also serves the property, connecting Skokie and Lincolnshire. Major roadways are nearby, with the Tri-State Tollway (I-294) 1.4 miles west and the Edens Expressway (Route 41) 2.3 miles east. This versatile property is suitable for executive, creative, traditional, and medical office uses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Deerfield
    County
    Lake
    State
    Illinois
    Longitude
    -87.838227518652
    Latitude
    42.152808138163

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    FAQs

    What type of property is this?
    Medical office - Prime Deerfield Office Space, Multiple Suites Available
    Where is this medical office located?
    The property is located at 400 Lake Cook Rd Deerfield, IL.
    What is the lease rate?
    The lease rate is $13-$16 SF/Yr.
    What are key features of this property?
    This property features: Elevator building.; Ample parking.; Deerfield's best rental rates.
    (773) 736-6461 Call to check price and availability
    Request Owner's contact information
    400 Lake Cook Rd Deerfield, IL 60015
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    Deerfield, IL 60015
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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.

    More about this property
    400 Lake Cook Rd Deerfield, IL 60015
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Theron May
    Theron May
    Real Estate License ID: 471019986
    (773) 736-6461
    Learn more
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