Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Upgraded Office and Retail Building Title is generated by Realmo AI

    1300 Greenbrook Blvd, Hanover Park, IL 60133

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Three-story building near expressway and Metra station with renovations underway.

    Type:Retail, Office
    Added:
    Sep 16, 2021
    Days on Market:
    1724
    Last Refresh:
    May 12 at 10:49 pm

    Property Features for 1300 Greenbrook Blvd

    General Information

    Standard status
    Active
    Property subtype
    Retail, Office

    Building Details

    Year Built
    1979

    Spaces For Lease

    at 1300 Greenbrook Blvd Contact us

    We can help!

    Listing Contact
    Jason Shibata

    Listing agent Jason Shibata License #IL 471011705

    Listing office JBS Commercial Real Estate

    Listing date Sep 16, 2021

    Source Crexi

    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 JBS Commercial Real Estate

    HighLights

    • Renovations Underway: Building is being upgraded inside and out by a professional ownership group, including common areas, mechanical systems, and scheduled parking lot, signage, and landscaping improvements.
    • Excellent Visibility: The only three‑story building in the area, providing high visibility from the Elgin‑O’Hare Expressway.
    • Strategic Location: Located directly off the Elgin‑O’Hare Expressway.
    • Proximity to Transportation: Near Hanover Park’s Metra Station.
    • Nearby Amenities: Close to a variety of retailers, restaurants, and hotels.
    • Recently Purchased: Indicates fresh investment and proactive management.

    Overview

    This three-story building, suitable for office and retail use, is undergoing extensive renovations by a professional ownership group. Upgrades are being made to both the interior and exterior of the property. Planned renovations for the spring include a new parking lot, monument signage, and landscaping. Common areas, such as the lobby and restrooms, are also being renovated, along with all mechanical systems. The building is located off the Elgin-O’Hare Expressway and near Hanover Park’s Metra Station. Its height provides excellent visibility from the expressway. Nearby amenities include Hanover Park's Metra station on West Lake St, retailers, restaurants and hotels.
    Property Profile Location Intelligence

    Current Use by Public Records

    Benefits Management Team, ... Insurance Agency Janine Mistretta | Healthcare ... Insurance Agency DigiTek Media LLC Marketing & Advertising Skin by Kim ... Medical Clinic Fairview Tax Service Tax Preparation

    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
    Hanover Park
    County
    Cook
    State
    Illinois
    Longitude
    -88.1371317
    Latitude
    41.9795341

    Nearby Similar for Lease

    • Contact for pricing
      1,100 SF

      Renovated Office Space Available

      Recently renovated office/medical space with included utilities in high-traffic area.
      1645 Irving Park Road, Hanover Park, IL 60133
      View Details
    • Contact for pricing
      900 SF

      Renovated Office Space For Rent

      Recently renovated office/medical space with kitchen, bathroom, and storage.
      1645 Irving Park Road, Hanover Park, IL 60133
      View Details
    • Contact for pricing
      46,559 SF

      Hanover Park Industrial Sublease

      46,559 SF industrial building for sublease through 4/30/2028.
      865 Muirfield Drive Hanover, Park, IL 60133
      View Details
    • Contact for pricing
      6,300 SF

      Retail Space in Hanover Park

      Retail space available in a highly trafficked shopping area.
      7580 Barrington Road, Hanover Park, IL, 60133
      View Details
    • Contact for pricing

      Office Space in Hanover Park

      Office space for lease with basement storage in Hanover Park.
      1255 Bamberg Court, Hanover Park, IL 60133
      View Details
    • Contact for pricing

      Office Space in Hanover Park

      Office space with basement storage in convenient Hanover Park location.
      1255 Bamberg Court, Hanover Park, IL 60133
      View Details
    • $20 SF/Yr
      2,265 SF

      Retail Space in Hanover Park

      Retail space available for lease in Hanover Park, Illinois.
      1190-1250 E Lake St, Hanover Park, IL
      View Details
    • Contact for pricing
      18,495 SF

      Crane Building for Lease

      18,495 SF crane building with expansion potential.
      Hanover Park, IL 60133
      View Details
    • Contact for pricing
      18,495 SF

      Industrial Property with Crane and Land

      Industrial property featuring a crane, ample power, and expansion potential.
      900 Muirfield Dr, Hanover Park, IL
      View Details
    • Contact for pricing
      2,600 SF

      QSR End Cap with Drive-Thru

      First generation restaurant space with drive-thru, connected to Thorntons.
      823 W Lake St, Hanover Park, IL
      View Details
    • Contact for pricing
      166,573 SF

      New Industrial Building in Bartlett

      166,573 SF industrial building divisible to 50,000 SF.
      2305-2325 Kenyon Rd., Bartlett, IL 60103
      View Details
    • Contact for pricing
      2,537 SF

      Retail Spaces Available For Lease

      Retail spaces available in busy shopping center.
      799-891 S Illinois Route 59, Bartlett, IL, 60103
      View Details

    FAQs

    What type of property is this?
    Office building - Three-story building near expressway and Metra station with renovations underway.
    Where is this office building located?
    The property is located at 1300 Greenbrook Blvd Hanover Park, IL.
    What are key features of this property?
    This property features: Renovations Underway: Building is being upgraded inside and out by a professional ownership group, including common areas, mechanical systems, and scheduled parking lot, signage, and landscaping improvements.; Excellent Visibility: The only three‑story building in the area, providing high visibility from the Elgin‑O’Hare Expressway.; Strategic Location: Located directly off the Elgin‑O’Hare Expressway.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jason Shibata
    Real Estate License ID: IL 471011705
    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

    Thank You for Inquiry
    1300 Greenbrook Blvd, Hanover Park, IL 60133
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!