Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    912 Northwest Hwy Ste 204 Fox River Grove, IL 60021

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $372,000

    Medical office suite available in a growing commercial area.

    Added:
    Mar 9, 2011
    Days on Market:
    5529
    Last Refresh:
    Jan 20 at 9:40 am

    Property Features for 912 Northwest Hwy Ste 204

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Wayne Kurchina
    Wayne Kurchina

    Listing agent Wayne Kurchina License #471000538

    Listing office ILrealty, Inc. Kurchina & Assoc.

    Listing date Mar 9, 2011

    Source Exprealty

    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 ILrealty, Inc. Kurchina & Assoc.

    Overview

    Medical Office Suite For Sale

    Located on Northwest Highway at Route 22, this medical office suite can be configured to specifications. Drawings are available for build out with a patient reception area, waiting room, private physician office, treatment and procedure rooms, as well as a medical records storage area. The property is situated in a growing residential and commercial area serving both Lake and McHenry Counties.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Similar Places Nearby

    • VCA Noyes Animal Hospital — 308 Lincoln Ave, Fox River Grove, IL 60021
    • VCA Noyes Animal Hospital — 710 Northwest Hwy, Fox River Grove, IL 60021

    Map

    City
    Fox River Grove
    County
    McHenry
    State
    Illinois
    Longitude
    -88.2237
    Latitude
    42.1928

    Nearby Similar for Sale

    • $224,900

      Turn-Key Medical Office Suite

      Move-in ready medical office in Riverpoint Professional Building.
      912 Northwest Highway, Fox River Grove, IL 60021
      View Details
    • $1,500,000

      Citgo Gas Station For Sale

      Thriving gas station with fuel agreement and potential for expansion.
      400 Northwest Highway, Fox River Grove, IL 60021
      View Details
    • $790,000

      Mixed-Use Building with Owner Financing

      Versatile mixed-use building with retail, warehouse, and residential spaces.
      700 Northwest Highway, Fox River Grove, IL 60021
      View Details
    • $2,250,000
      3,864 SF

      Freestanding Medical Office Near Jewel-Osco

      Freestanding, fully built-out medical office with ample parking.
      712 Northwest Hwy, Fox River Grove, IL
      View Details
    • $760,000
      5,200 SF

      Modern Medical Office Condo

      First-floor medical office condo with tenant in place.
      912 W Northwest HWY Suite 101, Fox River Grove, IL 60021
      View Details
    • $372,000
      1,425 SF

      Medical Office Suite For Sale

      New medical office suite in growing residential and commercial area.
      912 W Northwest Hwy Suite-204, Fox River Grove, IL 60021
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Medical office suite available in a growing commercial area.
    Where is this medical office space located?
    The property is located at 912 Northwest Hwy Ste 204 Fox River Grove, IL.
    What is the asking price?
    The asking price for this property is $372,000.
    What are key features of this property?
    This property features: New medical office suite: Opportunity to establish a practice in a brand new space.; Customizable configuration: Suite can be tailored to specific needs and drawings.; Strategic location: Centrally located on Northwest Highway at Route 22.
    (847) 912-1313
    We can help!
    Listing Contact
    Wayne Kurchina
    Wayne Kurchina
    Real Estate License ID: 471000538
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!