Cedar View Plaza Office
95 W Grand Avenue Lake Villa, IL 60046
95 W Grand Avenue, Lake Villa, IL, 60046
$779,000
For Sale
$779,000
Professional office building with warehouse and ample parking near Metra.
Property Size15,280 SF
Lot Size1.13 Acres
Price / SF$50.98
Days on Market248
Property Features for 95 W Grand Avenue
General Information
- Standard status
- Active
- Size
- 15,280 SF
- Lot size
- 1.13 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1980
Listing Agency
ROBERT E. FRANK REAL ESTATE
(847) 356-5263
Listed by
ROBERT FRANK · License #471012445
Source
Corcoran
Added: Nov 15, 2025 Updated: Jul 6 at 10:04 am Checked: Jul 19 at 4:45 am
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 ROBERT E. FRANK REAL ESTATE
Investment Insights
Based on property information with market context.
Cedar View Plaza Office Building, encompassing 14,000 square feet with an additional 1,280-square-foot warehouse, is available for sale. Constructed as a medical office, the brick and frame building has evolved to accommodate professional and service businesses. The building features offices with natural light from large windows. Hallways are updated with fresh paint and carpeting. Common areas include tiled bathrooms on the first and second floors. Climate control is provided by four newer rooftop units for heat. A newer GacoFlex roof coating has been applied. Tenants are responsible for individual office electric, while the landlord covers heat, air conditioning, sewer, and water. The property includes a 32x40 garage with a fenced material yard on over one acre of land. Long-term tenants include Air Technicians, Brooks Allen, and Business to Business. The property is located within walking distance of downtown Lake Villa restaurants, bars, and the METRA station. Ample parking is available. Lake Villa may allow conversion of the second floor to apartments. The property is being sold by the original builder after 40-plus years of ownership.
Key Highlights
- Prime location: Walkable to downtown Lake Villa restaurants, bars, and METRA station.
- Flexible office space: Suitable for professional/service businesses, originally designed for medical offices.
- Substantial building size: 14,000 sq ft office building plus a 1,280 sq ft warehouse/garage.
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $99.0k | $6.48 |
| − Vacancy | −$5.0k | −$0.33 |
| EGI | $94.0k | $6.15 |
| − OpEx | −$28.2k | −$1.84 |
| NOI | $65.8k | $4.30 |
15,280 SF · lease $6.48/SF/yr · vacancy 5.10% · expense 30.00%
Alternative Uses
Best Use
Office B
$3.01M
$2.63M – $3.51M
NOI $210,686 @ 7.0% cap · market cap 27.05%
Second Best
Mixed Use
$2.26M
$1.98M – $2.64M
NOI $158,148 @ 7.0% cap · market cap 20.30%
Theoretical Best
Office A
$5.28M
$4.62M – $6.15M
NOI $369,284 @ 7.0% cap · market cap 47.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Office building - Professional office building with warehouse and ample parking near Metra.
Where is this office building located?
The property is located at 95 W Grand Avenue Lake Villa, IL.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: Prime location: Walkable to downtown Lake Villa restaurants, bars, and METRA station.; Flexible office space: Suitable for professional/service businesses, originally designed for medical offices.; Substantial building size: **14,000 sq ft office building plus a 1,280 sq ft warehouse/garage.**
