Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space in Buffalo Grove Title is generated by Realmo AI

    NEC Lake Cook Rd & Rte 83, Buffalo Grove, IL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Neighborhood retail opportunity serving Buffalo Grove and neighboring communities.

    Type:RETAIL
    Property size:
    5,950 SF
    Lot size:
    4.62 Acres
    Added:
    Feb 2, 2023
    Days on Market:
    1200
    Last Refresh:
    Apr 5 at 9:32 pm

    Property Features for NEC Lake Cook Rd & Rte 83

    General Information

    Standard status
    Active
    Size
    5,950 SF
    Lot size
    4.62 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at NEC Lake Cook Rd & Rte 83 Contact us

    We can help!

    Listing Contact
    Liz Krebs

    Listing agent Liz Krebs

    Listing office Mid-America Real Estate Group | Oakbrook Terrace

    Listing date Feb 2, 2023

    Source Moodyscre

    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 Mid-America Real Estate Group | Oakbrook Terrace

    HighLights

    • Anchored by Jewel‑Osco, a major grocery store.
    • Includes a mix of longstanding tenants such as Best Salon & Spa, Original Bagel & Bialy, and Chase Bank.
    • Convenient neighborhood retail location serving Buffalo Grove and surrounding communities.
    • Ample parking with 557 spaces.
    • Located 3 miles east of Illinois Route 53.
    • Located 2 miles west of US 45.

    Overview

    This retail space is located in a shopping center anchored by Jewel-Osco, along with other longstanding tenants including Best Salon & Spa, Original Bagel & Bialy, and Chase Bank. The property is situated 3 miles east of Illinois Route 53 and 2 miles west of US 45. The site provides 557 parking spaces. The available space measures 5,950 square feet and presents a convenient neighborhood retail opportunity serving Buffalo Grove and neighboring communities.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Map

    City
    Buffalo Grove
    County
    Lake
    State
    Illinois
    Longitude
    -87.9678
    Latitude
    42.1739

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      IL, Buffalo Grove - E Lake Cook Rd

      2150 Lake Cook Rd, Buffalo Grove, IL 60089
      View Details
    • $129-$3,936/Mo
      11-1,292 SF

      IL, Buffalo Grove - Busch Parkway

      1450 Busch Pkwy, Buffalo Grove, IL 60089
      View Details
    • $17 SF/Yr
      22,500 SF

      Retail, Office, Medical Space Available

      Neighborhood shopping center with suites for retail, office, and medical.
      1397-1501 West Dundee Road, Buffalo Grove, IL 60089
      View Details
    • Contact for pricing
      208,842 SF

      Buffalo Grove Warehouse with Office

      141,769 SF available for lease in Buffalo Grove.
      1400 Busch Parkway, Buffalo Grove, IL 60089
      View Details
    • Contact for pricing
      22,501 SF

      Modern Office and Warehouse Space

      22,501 SF single-tenant building with office and warehouse space.
      750 Hastings Dr, Buffalo Grove, IL 60089
      View Details
    • Contact for pricing
      6,250 SF

      Buffalo Grove Retail Space Available

      New construction retail space for lease in Buffalo Grove, Illinois.
      1355 - 1501 Dundee Road, Buffalo Grove, IL 60089
      View Details
    • $9 SF/Yr
      75,760 SF

      Buffalo Grove Business Park Space

      Professionally managed business park with ample parking and modern amenities.
      1367-1407 Barclay Blvd, Buffalo Grove, IL 60089
      View Details
    • Contact for pricing
      50,000 SF

      New Spec Building on Parkway

      50,000 SF spec building in Buffalo Grove, available Spring 2020.
      990 Deerfield Parkway, Buffalo Grove, IL 60089
      View Details
    • $9 SF/Yr
      75,760 SF

      Industrial Space in Business Park

      Professionally managed industrial space with excellent business park environment.
      Buffalo Grove, IL 60089
      View Details
    • $27 SF/Yr
      144 SF

      Corner Suite with Ample Amenities

      Office suite featuring a conference room, open area, and amenities.
      2150 E Lake Cook Rd, Buffalo Grove, IL
      View Details
    • $25 SF/Yr
      4,428 SF

      Office Space with Fitness Center

      Office space featuring a fitness center, conference rooms, and security.
      750 W Lake Cook Rd, Buffalo Grove, IL
      View Details
    • $20 SF/Yr
      435 SF

      Buffalo Grove Retail/Office Space

      Two-story shopping center with retail and office spaces for rent.
      1145-1217 McHenry Rd, Buffalo Grove, IL
      View Details

    FAQs

    What type of property is this?
    Shopping center - Neighborhood retail opportunity serving Buffalo Grove and neighboring communities.
    Where is this shopping center located?
    The property is located at NEC Lake Cook Rd & Rte 83 Buffalo Grove, IL.
    What are key features of this property?
    This property features: Anchored by Jewel‑Osco, a major grocery store.; Includes a mix of longstanding tenants such as Best Salon & Spa, Original Bagel & Bialy, and Chase Bank.; Convenient neighborhood retail location serving Buffalo Grove and surrounding communities.
    (630) 954-7300 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Liz Krebs
    Learn More
    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
    NEC Lake Cook Rd & Rte 83, Buffalo Grove, IL
    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!