Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1001 Lane Rd Machesney Park, IL 61115

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1001 Lane Rd Machesney Park, IL 61115

    View on Map
    • Retail properties & Spaces
    • 150,000 SF
    • 11.47 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • kitchen & cocktails / Restaurant
    • FREE Rapid And PCR Drive-Thru Testing Machesney Park / Medical Laboratory
    • Onyx Bar and Grill / Bar & Pub / Restaurant

    Property Details for 1001 Lane Rd

    Year built
    2005
    Lot size
    11.47 lot acres
    Property size
    150,000 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Office properties & Spaces

    Description

    This exceptional multi-tenant medical office and retail property, located at 1001 West Lane Rd in Machesney Park, IL 61115, offers a prime opportunity for businesses seeking high-visibility space in a thriving commercial corridor. The property boasts a total of 150,000 square feet across three single-story buildings, constructed in 2005, situated on 11.47 acres of land. With ample parking (830 spaces, a 5.53 ratio), the property provides convenient access for patients and customers. Individual suites range from a minimum of 1,102 square feet to a maximum contiguous space of 7,458 square feet, with 14,439 square feet currently vacant. The property is zoned CG and benefits from excellent visibility, situated at the corner of West Lane Rd/Rt. 173 and Highway 251, experiencing over 40,000 vehicles daily. This location offers immediate proximity to a variety of national retailers including TJ Maxx, Michaels, Ulta, Famous Footwear, Maurices, Hallmark, Kay Jewelers, Lens Crafters, Starbucks, Noodles & Co, Target, Kohl's, Home Depot, Lowe's, and Office Depot, ensuring high traffic and strong consumer demographics. The property features no elevators. This is an ideal location for medical practices and retail businesses seeking a prominent presence in a busy and established retail center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Machesney Park
    County
    Winnebago
    State
    Illinois
    Longitude
    -89.0335
    Latitude
    42.3646

    Comparable in this City

    • Value Estimation by Request
      19,067 SF

      1307-1335 Lane Rd

      Individual retail properties • 19,067 SF
      1307-1335 Lane Rd, Machesney Park, IL 61115
      View Details
    • Value Estimation by Request
      8,442 SF

      600 Wood Ave

      Individual retail properties • 8,442 SF
      600 Wood Ave, Machesney Park, IL 61115
      View Details
    • Value Estimation by Request
      1,449 SF

      605 Ramona Ter

      Automotive properties • 1,449 SF
      605 Ramona Ter, Machesney Park, IL 61115
      View Details
    • Value Estimation by Request

      1770 Lane Rd

      Retail properties & Spaces
      1770 Lane Rd, Machesney Park, IL 61115
      View Details
    • Value Estimation
      $2,495,000
      13,090 SF

      4055 Steele Dr

      OFFICE (GENERAL) • 13,090 SF
      4055 Steele Dr, Machesney Park, IL 61115-8358
      View Details
    • Value Estimation by Request
      30,000 SF

      9628 Forest Hills Rd

      Flex space • 30,000 SF
      9628 Forest Hills Rd, Machesney Park, IL 61115
      View Details

    Similar Nearby for Sale

    • $220,000
      4,364 SF

      Machesney Park Commercial Property

      Commercial property in Machesney Park with high visibility.
      7836 N 2Nd St, Machesney Park, IL 61115
      View Details
    • Contact for pricing
      3,000 SF

      Drive-Thru Church’s Chicken Investment Property

      NNN leased Church’s Chicken in Machesney Park, Illinois.
      1586 W Lane Rd, Machesney Park, IL 61115
      View Details
    • Contact for pricing

      Machesney Park Retail Opportunity

      Retail property for sale in Machesney Park, Illinois.
      1526-1548 West Lane Rd, Machesney Park, IL 61115
      View Details
    • Contact for pricing
      10,918 SF

      Machesney Park Showroom/Warehouse For Sale

      Showroom and warehouse with overhead doors and redevelopment potential.
      9924 N 2Nd St, Machesney Park, IL 61115
      View Details
    • Contact for pricing
      30,090 SF

      Machesney Park Flex/Office Asset

      Flex/office asset in Machesney Park with income potential.
      4055 Steele Dr, Machesney Park, IL 61115
      View Details
    • Contact for pricing
      22,000 SF

      Adaptable Office and Industrial Facility

      22,000 SF facility with office and industrial adaptability.
      9942 N Alpine Rd, Machesney Park, IL 61115
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,500 SF

      Machesney Park Retail Space Available

      Retail space available for sublease in Machesney Park, IL.
      7507 N 2Nd St, Machesney Park, IL 61115
      View Details
    • Contact for pricing
      4,000 SF

      Retail Outlot with Drive-Thru Potential

      Prime retail space with drive-thru opportunity and high visibility.
      Burden Rd, Machesney Park, IL 61115
      View Details
    • $12 SF/Yr

      Machesney Park Retail Space Available

      Retail and office spaces available in neighborhood shopping center.
      613-633 Harlem Rd, Machesney Park, IL 61115
      View Details
    • Contact for pricing
      1,075 SF

      Retail Space Near Major Retailers

      1,075 SF retail space near Machesney Park retail corridor.
      10121 N 2Nd St, Machesney Park, IL 61115
      View Details
    • Contact for pricing

      Machesney Park Neighborhood Shopping Center

      Neighborhood center with multiple units available for lease.
      613 Harlem Rd, Machesney Park, IL 61115
      View Details
    • Contact for pricing

      Retail Space in High-Traffic Area

      Retail space in Machesney Park's shopping corridor with high visibility.
      10017 N 2Nd St, Machesney Park, IL 61115
      View Details
    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.
    1001 Lane Rd
    Machesney Park, IL 61115
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!