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    475 162Nd St South Holland, IL 60473

    Sponsored
    For Lease
    $12 SF/Yr

    Class A Office Space, Multiple Suites Available

    Lot size:
    22,051 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional Class A office building, totaling 22,051 square feet, is situated on 2.31 acres in South Holland, Illinois. Built in 1983 and extensively renovated in 2023, the property boasts a striking marble exterior and offers multiple suite options ranging from 500 to 6,000 contiguous square feet. The building features three total suites, with 6,000 square feet currently vacant. Amenities include 75 parking spaces, an elevator, and high ceilings (14 feet). Modern upgrades include new strobes, horns, and emergency lighting

    Property Features for 475 162Nd St

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    22,051 SF
    Class
    A
    Total Rate
    22051

    Building Details

    Year Built/Renovated
    1983/2023
    Buildings
    1
    Stories
    2

    Unit(s) available at that property

    Space
    200
    Size
    6,960 SF
    Rate per SF
    $20
    Space
    #A
    Size
    3,671 SF
    Rate per SF
    $12
    Space
    #201
    Size
    2,819 SF
    Rate per SF
    $21
    Property Profile Location Intelligence

    Current Use by Public Records

    Fifth Third Business ... Bank Fifth Third Bank ... Bank Fifth Third Securities ... Financial Planner Fifth Third Business ... Bank

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    South Holland
    County
    Cook
    State
    Illinois
    Longitude
    -87.605366949673
    Latitude
    41.6008711191

    Nearby Comparable

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      South Holland Warehouse Space Available

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      Adaptable Space in South Holland

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      Retail Space in Dolton, IL

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    Nearby Similar for Lease

    • Contact for pricing

      South Holland Commercial Space Available

      Three warehouse units for lease in South Holland, Illinois.
      15526 Wentworth Ave, South Holland, IL 60473
      View Details
    • Contact for pricing
      149,456 SF

      South Holland Warehouse Space Available

      149,456 SF Warehouse, 45,098 SF Vacant
      410 169Th St, South Holland, IL 60473
      View Details
    • $3,550,000
      50,204 SF

      South Holland Warehouse with Storage

      50,204 SF warehouse with fenced outdoor storage available for lease.
      525 W 169Th St, South Holland, IL 60473
      View Details
    • $8,801 /Mo
      2,816 SF

      New Retail Space Available

      New construction retail space with high traffic exposure.
      911 E 162Nd St, South Holland, IL 60473
      View Details
    • $4,400 /Mo
      3,094 SF

      Adaptable Space in South Holland

      Office, showroom, or mixed-use space with ample parking.
      17005 Westview Ave, South Holland, IL 60473
      View Details
    • Contact for pricing
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      Industrial Warehouse Near CN Intermodal

      Industrial warehouse with easy access to major interstates and intermodal.
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      View Details
    • Contact for pricing
      45,098 SF

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      Industrial warehouse space for lease in South Holland, Illinois.
      410-470 W 169Th St, South Holland, IL 60473
      View Details
    • Contact for pricing
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      South Holland Industrial Space

      Industrial property available for lease in South Holland, Illinois.
      350-358 W Armory Dr, South Holland, IL 60473
      View Details
    • Contact for pricing
      95,515 SF

      Renovated Industrial Warehouse Space

      Newly renovated industrial warehouse space available for lease.
      17005-17045 S Wallace Ave, South Holland, IL 60473
      View Details
    • $27 SF/Yr
      1,304 SF

      South Holland Office Space Available

      Office space available for lease in South Holland, Illinois.
      401 E 162Nd St, South Holland, IL 60473
      View Details

    FAQs

    What type of property is this?
    Office space - Class A Office Space, Multiple Suites Available
    Where is this office space located?
    The property is located at 475 162Nd St South Holland, IL.
    What is the lease rate?
    The lease rate is $12-$21 SF/Yr.
    Request Owner's contact information
    475 162Nd St South Holland, IL 60473
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    South Holland, IL 60473
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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.

    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
    475 162Nd St South Holland, IL 60473
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