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    Property profile & analytics

    Milwaukee Ave & Deerfield Rd Riverwoods, IL 60015

    • Office Properties & Spaces
    • 540,000 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 0 Milwaukee Ave & Deerfield Rd

    Property size
    540,000 SF
    Property type
    Office Properties & Spaces

    Description

    This exceptional 37.32-acre Lake County office campus presents a rare opportunity for businesses seeking substantial space in a prime location. The property boasts a total of 540,000 square feet of executive office space, currently entirely vacant and available for lease. The flexible layout allows for multiple tenants, with minimum divisible space of 220,000 square feet and a maximum contiguous space of 320,000 square feet, catering to a variety of business needs and expansion plans. Ample parking is provided with 564 spaces, ensuring convenient access for employees and clients. Situated at the intersection of Milwaukee Avenue and Deerfield Road in Riverwoods, Illinois (zip code 60015), this property offers unparalleled visibility and accessibility. The property is classified as an Executive Office building and is ideally suited for large corporations or organizations requiring significant space in a prestigious location within Lake County. This is a unique opportunity to secure a substantial and highly visible office presence in a thriving business community. The property's size and location make it an exceptional investment for long-term growth and stability. Contact us today to learn more about this remarkable opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Riverwoods
    County
    Lake
    State
    Illinois
    Longitude
    -87.9217
    Latitude
    42.1677

    Comparable in this City

    • Value Estimation by Request
      37.32 Acres

      Milwaukee Ave & Deerfield Rd

      Land • 220,000 SF
      0 Milwaukee Ave & Deerfield Rd, Riverwoods, IL 60015
      View Details
    • Value Estimation by Request
      38,655 SF

      1125-1147 Milwaukee Ave

      Office Properties & Spaces • 38,655 SF
      1125-1147 Milwaukee Ave, Riverwoods, IL 60015
      View Details
    • Value Estimation
      $530,000
      12.19 Acres

      1751 Lk Cook Rd

      OFFICE BUILDING (MULTI-STORY) • 12.19 Acres
      1751 Lk Cook Rd, Deerfield, IL 60015-5615
      View Details
    • Value Estimation
      $555,000
      6.74 Acres

      1417 Lk Cook Rd

      OFFICE BUILDING (MULTI-STORY) • 6.74 Acres
      1417 Lk Cook Rd, Deerfield, IL 60015-5238
      View Details
    • Value Estimation
      $3,550,000
      26,784 SF

      730 Osterman Ave

      OFFICE BUILDING • 26,784 SF
      730 Osterman Ave, Deerfield, IL 60015
      View Details
    • Value Estimation
      $10,745,000
      2.00 Acres

      111 Pfingsten Rd

      OFFICE BUILDING (MULTI-STORY) • 2.00 Acres
      111 Pfingsten Rd, Deerfield, IL 60015-5616
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      37.32 Acres

      Riverwoods Executive Office Campus

      Prime IL location, large development site
      0 Milwaukee Ave & Deerfield Rd, Riverwoods, IL 60015
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    • Contact for pricing
      26,367 SF

      Office Space Near Metra Station

      Office space with flexible floor plan and convenient transportation access.
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      98,680 SF

      Class A Office Building

      98,680 SF Class A office building in North Suburban Chicago.
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      60,000 SF

      Office/Flex Suites in Deerfield, IL

      Office and flex suites available for lease in Deerfield, Illinois.
      111 Deer Lake Rd, Deerfield, IL 60015
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    • Contact for pricing
      147,096 SF

      Deerfield Office Space Available

      Contiguous office space available near downtown Deerfield with highway access.
      1717 Deerfield Rd, Deerfield, IL 60015
      View Details
    • Contact for pricing
      38 SF

      38 Acres Land For Development

      38-acre land site for development in Lake County, Illinois.
      Milwaukee Rd And Deerfield Rd, Riverwoods, IL 60015
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      26,367 SF

      Deer Park Business Center Office Space

      Prime Lake County Office Building; 13,339 SF Available
      750 Estate Dr, Deerfield, IL 60015
      View Details
    • $15 SF/Yr
      60,000 SF

      Deerfield Office Building for Lease

      Prime Deerfield office space, multiple suites available.
      111 Deer Lake Rd, Deerfield, IL 60015
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    • $26 SF/Yr
      147,096 SF

      Deerfield Office Building For Sale

      Class B Office Space, Multiple Tenancies Available
      1717 Deerfield Rd, Deerfield, IL 60015
      View Details
    • $23 SF/Yr
      98,680 SF

      Lakeside Executive Office Suites

      Prestigious Bannockburn Office Space
      2801 Lakeside Dr, Bannockburn, IL 60015
      View Details
    • Contact for pricing
      540,000 SF

      Prime Riverwoods Office Campus

      540,000 SF Executive Office Space
      0 Milwaukee Ave & Deerfield Rd, Riverwoods, IL 60015
      View Details
    • $19 SF/Yr
      137,492 SF

      Deerfield Executive Office Suites

      Lake Cook Rd Office Space Available
      570 Lake Cook Rd, Deerfield, IL 60015
      View Details
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    Riverwoods, IL 60015
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    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
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