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    1717 Deerfield Rd Deerfield, IL 60015

    Sponsored
    For Lease
    $26 SF/Yr

    Class B Office Space, Multiple Tenancies Available

    Lot size:
    147,096 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    404
    1717 Deerfield Road, Deerfield, IL 60015 presents a significant opportunity for investors and businesses seeking office space in Lake County. This Class B office building, constructed in 1986, offers a total of 147,096 square feet across multiple tenancies. The property sits on a generous 8.91 acres of land and is zoned I-1, providing flexibility for various uses. Currently, there are 11 individual spaces available, ranging in size from 716 square feet to a substantial 47,810 square feet. This allows for businesses of all sizes to find a suitable space, from smaller executive offices to larger traditional office setups. The building's location in Deerfield, Illinois offers convenient access to major transportation routes and amenities. The contiguous office space available ranges from 716 to 99,000 square feet, providing significant scalability options for expanding businesses. This property represents a compelling investment opportunity in a well-established and desirable location. The building's size and flexible space options make it suitable for a variety of tenants and business models. Further details regarding lease terms and pricing are available upon request.

    Property Features for 1717 Deerfield Rd

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    147,096 SF
    Class
    B
    Total Rate
    324837

    Building Details

    Year Built
    1986

    Unit(s) available at that property

    Space
    Suite 101
    Size
    3,102 SF
    Rate per SF
    $26
    Space
    Suite 102
    Size
    6,476 SF
    Rate per SF
    $26
    Space
    Suite 103
    Size
    4,340 SF
    Rate per SF
    $26
    Space
    Suite 104
    Size
    4,991 SF
    Rate per SF
    $26
    Space
    Suite 105
    Size
    4,827 SF
    Rate per SF
    $26
    Space
    Suite 106
    Size
    3,120 SF
    Rate per SF
    $26
    Space
    Suite 107
    Size
    9,196 SF
    Rate per SF
    $26
    Space
    Suite 108
    Size
    716 SF
    Rate per SF
    $26
    Space
    Suite 109
    Size
    2,571 SF
    Rate per SF
    $26
    Space
    Suite 200
    Size
    47,810 SF
    Rate per SF
    $26
    Space
    Suite 350
    Size
    11,470 SF
    Rate per SF
    $26

    We can help!

    Listing Contact
    Jack Reardon

    Learn more

    Property Insight Report

    HighLights

    • Minutes from Downtown Deerfield
    • Immediate access to I‑294 & I‑94 via Deerfield Road
    • Renovated common corridors
    • Up to 99,000 SF of contiguous office space available
    • Building top signage available
    • Low Lake County taxes
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Wholesale Shop Auto Repair Shop Hotel & Motel Gym & Fitness Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Deerfield
    County
    Lake
    State
    Illinois
    Longitude
    -87.8729272
    Latitude
    42.1649346

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    FAQs

    What type of property is this?
    Office Property / Space - Class B Office Space, Multiple Tenancies Available
    Where is this office property / space located?
    The property is located at 1717 Deerfield Rd Deerfield, IL.
    What is the lease rate?
    The lease rate is $26 SF/Yr.
    What are key features of this property?
    This property features: Minutes from Downtown Deerfield; Immediate access to I-294 & I-94 via Deerfield Road; Renovated common corridors
    Request Owner's contact information
    1717 Deerfield 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
    1717 Deerfield Rd Deerfield, IL 60015
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    We can help!
    Listing Contact
    Jack Reardon
    Real Estate License ID: 1234567890
    Learn more
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