Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2403 Us Highway 12 Spring Grove, IL 60081

    • Specialty properties
    • 20,000 SF
    For Lease
    View listing
    $25 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for 2403 Us Highway 12

    Year built
    2024
    Property size
    20,000 SF
    Property type
    Specialty properties
    Property subtype
    Retail properties

    Description

    This exceptional Class A retail development in Spring Grove, Illinois, offers a unique opportunity for businesses seeking high-visibility locations. Situated at 2403 US-12 in McHenry County (zip code 60081), this new shopping center boasts two buildings totaling 20,000 square feet and is scheduled to open in 2024. The property features both in-line retail spaces and prime drive-thru outlots, ideal for a variety of uses including restaurants and special purpose businesses. Spaces are available in sizes ranging from a minimum of 1,500 square feet to a maximum contiguous space of 18,000 square feet, providing flexibility for various business needs. The center is strategically located along Route 12, ensuring high traffic volume and excellent exposure. This development offers a chance to join established national tenants such as Jewel-Osco, McDonald's, and JP Morgan Chase, benefiting from the synergy of a thriving retail environment. The property's modern design and prime location in a growing market make it an exceptional investment opportunity. Don't miss the chance to be part of this exciting new development in Spring Grove. Contact us today to learn more about available spaces and leasing options.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Spring Grove
    County
    McHenry
    State
    Illinois
    Longitude
    -88.243
    Latitude
    42.4371

    Comparable in this City

    • Value Estimation by Request
      2.80 Acres

      2150 Us-12

      Land • 2.80 Acres
      2150 Us-12, Spring Grove, IL 60081
      View Details
    • Value Estimation by Request
      2,203 SF

      27980 Greenwood Ave

      BAR, TAVERN • 2,203 SF
      27980 Greenwood Ave, Spring Grove, IL 60081-9141
      View Details
    • Value Estimation by Request
      0.46 Acres

      2004 Holian Dr

      COMMERCIAL (GENERAL) • 0.46 Acres
      2004 Holian Dr, Spring Grove, IL 60081-7920
      View Details
    • Value Estimation by Request
      0.37 Acres

      37514 Us Hwy 12

      VACANT COMMERCIAL LAND • 0.37 Acres
      37514 Us Hwy 12, Spring Grove, IL 60081-9506
      View Details
    • Value Estimation by Request

      2900 Us Hwy 12

      COMMERCIAL (GENERAL)
      2900 Us Hwy 12, Spring Grove, IL 60081-8322
      View Details
    • Value Estimation by Request
      4.60 Acres

      10710 Wilmot Rd

      COMMERCIAL (GENERAL) • 4.60 Acres
      10710 Wilmot Rd, Spring Grove, IL 60081
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Red Oaks Subdivision One-Acre Lot

      One-acre lot in Red Oaks Subdivision, near Route 12 and 173.
      7369 English Oak Ln, Spring Grove, IL 60081
      View Details
    • Contact for pricing
      0.23 Acres

      Spring Grove Land Opportunity

      Two lots in Spring Grove, ideal for building a home.
      lot 11 & 12 Ravine Dr, Spring Grove, IL 60081
      View Details
    • $59,000
      2.03 Acres

      Prime Agricultural Land in Spring Grove, IL

      2.03 Acres, Scenic Views, Build Your Dream Home
      4223 Northgate Dr, Spring Grove, IL 60081
      View Details
    • New
      Contact for pricing
      0.24 Acres

      Residential Lots in Spring Grove

      Two residential lots in a desirable Spring Grove location.
      lot 8 & 9 Ravine Dr, Spring Grove, IL 60081
      View Details
    • Contact for pricing

      Residential Lot in Red Oak

      One acre lot in upscale Red Oak subdivision community.
      7397 English Oak Ln, Spring Grove, IL 60081
      View Details
    • $30,000
      1.12 Acres

      Red Oak Estates Land

      Secluded 1+ acre lot in Red Oak Estates.
      1711 Cedar Ln, Spring Grove, IL 60081
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      20,000 SF

      Spring Grove Retail Center Opportunity

      New 2024 Construction, Prime Outlots Available
      2403 Us Highway 12, Spring Grove, IL 60081
      View Details
    • Contact for pricing

      Spring Grove Commercial Space Available

      Highly visible storefront in Spring Creek Plaza, Spring Grove, IL.
      2450 N Us Highway 12, Spring Grove, IL 60081
      View Details
    • Contact for pricing

      Spring Grove Retail Space Available

      Highly visible storefront in Spring Creek Plaza, Spring Grove, IL.
      2450 N Us Highway 12, Spring Grove, IL 60081
      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.
    2403 Us Highway 12
    Spring Grove, IL 60081
    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.