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    The Largest CRE Database in the US with Over 1 Million Listings

    4801 Peterson Ave Chicago, IL 60646

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    For Lease
    Contact for pricing

    Class A Medical & Executive Suites, Chicago

    Lot size:
    102,000 SF

    Property Features for 4801 Peterson Ave

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    102,000 SF
    Class
    A
    Total Rate
    187000

    Building Details

    Year Built/Renovated
    1974/2019
    Buildings
    1
    Stories
    6

    Spaces For Lease

    at 4801 Peterson Ave, Chicago, IL 60646 Contact us
    Unit 505

    $24 /Mo

    Size
    1,039 SF
    Contact us
    Unit 204

    $28 /Mo

    Size
    1,158 SF
    Contact us
    Unit 213

    $28 /Mo

    Size
    1,780 SF
    Contact us
    Unit 504

    $24 /Mo

    Size
    1,079 SF
    Contact us
    Unit 214

    $28 /Mo

    Size
    931 SF
    Contact us
    Unit 215

    $22 /Mo

    Size
    666 SF
    Contact us
    Unit 220

    $28 /Mo

    Size
    712 SF
    Contact us
    Unit 301

    $28 /Mo

    Size
    1,125 SF
    Contact us
    Unit 218

    $28 /Mo

    Size
    2,087 SF
    Contact us
    Unit 207

    $28 /Mo

    Size
    1,698 SF
    Contact us
    Unit 602

    $28 /Mo

    Size
    1,607 SF
    Contact us
    Unit 620

    $28 /Mo

    Size
    907 SF
    Contact us
    Unit 402

    $28 /Mo

    Size
    1,569 SF
    Contact us
    Unit 201

    $28 /Mo

    Size
    1,479 SF
    Contact us
    Unit 610

    $28 /Mo

    Size
    1,255 SF
    Contact us
    Unit 510

    $28 /Mo

    Size
    1,550 SF
    Contact us
    Unit 300

    $28 /Mo

    Size
    538 SF
    Contact us
    Unit 314

    $28 /Mo

    Size
    2,880 SF
    Contact us
    Unit 410-411

    $28 /Mo

    Size
    3,540 SF
    Contact us
    Unit 608

    $28 /Mo

    Size
    1,351 SF
    Contact us
    Unit 512

    $28 /Mo

    Size
    1,287 SF
    Contact us
    Unit 305

    $28 /Mo

    Size
    1,119 SF
    Contact us
    Unit 540

    $28 /Mo

    Size
    910 SF
    Contact us
    Unit 402A

    $28 /Mo

    Size
    2,363 SF
    Contact us
    Unit 403

    $22 /Mo

    Size
    847 SF
    Contact us
    Unit 630

    $28 /Mo

    Size
    2,175 SF
    Contact us
    Unit 315

    $28 /Mo

    Size
    1,770 SF
    Contact us
    Unit 303

    $28 /Mo

    Size
    915 SF
    Contact us
    Unit 515

    $28 /Mo

    Size
    2,352 SF
    Contact us
    Unit 601

    $28 /Mo

    Size
    1,756 SF
    Contact us
    Unit 404

    $28 /Mo

    Size
    1,734 SF
    Contact us
    Unit 612

    $28 /Mo

    Size
    1,106 SF
    Contact us
    Unit 318

    $28 /Mo

    Size
    891 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

    This exceptional Class A office building, Edens Office Plaza, offers 102,000 square feet of prime commercial space in Chicago's Sauganash neighborhood. Located at 4801 W Peterson Ave, Chicago, IL 60646, this six-story building boasts a prominent location at the southwest corner of Peterson Avenue and Cicero Avenue, providing excellent visibility and accessibility. Built in 1974 and extensively renovated in 2019, the property features one building with elevators and ample parking, including covered spaces. The building overlooks the Edens Expressway (I-94) and Forest Glen Forest Preserve, offering stunning views. Its convenient location is directly across from a Whole Foods Market and is served by the CTA's 54-A and 84 bus routes. Flexible suite sizes range from 538 to 3,540 square feet, accommodating a variety of business needs. The property sits on 5 acres of land and is zoned for commercial use. This location offers a unique blend of suburban tranquility and urban convenience, situated within a largely residential community featuring spacious homes and nearby parks. Multiple tenancy options are available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    GARLAND MEDICAL CENTER Medical Clinic Associates For Dental Care ... Dental Office Webster Dental Care ... Dental Office Saul D. Legator, ... Dental Office Charles Shulruff, D.D.S. Dental Office

    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
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.748215100109
    Latitude
    41.989830726631

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    FAQs

    What type of property is this?
    Medical office - Class A Medical & Executive Suites, Chicago
    Where is this medical office located?
    The property is located at 4801 Peterson Ave Chicago, IL.
    What is the lease rate?
    The lease rate is $22-$28 SF/Yr.
    What are key features of this property?
    This property features: Class A medical office building.; Ample covered parking.; Excellent visibility across from Whole Foods.
    (773) 736-6461 Call to check price and availability
    Request Owner's contact information
    4801 Peterson Ave Chicago, IL 60646
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    Chicago, IL 60646
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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
    4801 Peterson Ave Chicago, IL 60646
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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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