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    1232 American Way Libertyville, IL 60048

    For Lease
    $16 SF/Yr

    Medical & Creative Office Suites Available

    Lot size:
    22,800 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional two-story, 22,800-square-foot Class B office complex in Libertyville, IL (60048), offers multiple suites ideal for medical, creative, or professional services. Located at 1232-1284 American Way, near RT 45 & American Way, this property boasts 9,325 square feet of immediately available space, divisible to a minimum of 1,200 square feet and with a maximum contiguous space of 3,032 square feet. Four total suites are available, ranging in size to accommodate various business needs. The building, constructed in 2005, sits on a 3.76-acre lot and features ample parking (8.06 spaces per 1,000 square feet, with over 100 open spaces). Its convenient location offers easy access to major transportation arteries, including Interstate I-94 and both Libertyville and Mundelein Metra stations. The property is zoned O-2 Office and is situated near prominent medical facilities such as the Encompass Rehab Center and Advocate Condell Hospital. Lease rates, modified gross, range from $16 to $24 per square foot and include base rent, taxes, and common area maintenance. Utilities are the responsibility of the tenant. The property's APN is 11-07-301-007 and is situated in the Lake County submarket. Available spaces include a 1,700-square-foot former therapy suite, a 2,294-square-foot executive office space, a 2,300-square-foot creative loft space, and a fully built-out 3,032-square-foot medical suite. This well-maintained complex presents a prime opportunity for businesses seeking a strategic location and versatile office space.

    Property Features for 1232 American Way

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    22,800 SF
    Class
    B
    Total Rate
    30400

    Building Details

    Year Built
    2005
    Stories
    2

    Unit(s) available at that property

    Space
    Unit 1266
    Size
    2,299 SF
    Rate per SF
    $16
    Space
    Unit 1264/68
    Size
    3,032 SF
    Rate per SF
    $26
    Space
    Unit 1280
    Size
    2,294 SF
    Rate per SF
    $24
    Space
    Unit 1260
    Size
    1,700 SF
    Rate per SF
    $23

    HighLights

    • 22,800 SF Class B multi‑tenant office complex in Libertyville, IL.
    • 9,325 SF of immediately available space, divisible to 1,200 SF minimum.
    • Four available suites: 1,700 SF former therapy suite, 2,294 SF executive office, 2,300 SF creative loft, and a 3,032 SF medical suite.
    • 2005 construction, brick/concrete, on a 3.76‑acre lot with over 100 open parking spaces (8.06/1,000 SF ratio).
    • Central HVAC, tenant‑controlled.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Libertyville
    County
    Lake
    State
    Illinois
    Longitude
    -88.0019313
    Latitude
    42.3000495

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    FAQs

    What type of property is this?
    Office space - Medical & Creative Office Suites Available
    Where is this office space located?
    The property is located at 1232 American Way Libertyville, IL.
    What is the lease rate?
    The lease rate is $16-$26 SF/Yr.
    What are key features of this property?
    This property features: 22,800 SF Class B multi-tenant office complex in Libertyville, IL.; 9,325 SF of immediately available space, divisible to 1,200 SF minimum.; Four available suites: 1,700 SF former therapy suite, 2,294 SF executive office, 2,300 SF creative loft, and a 3,032 SF medical suite.
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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
    1232 American Way Libertyville, IL 60048
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