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    Milwaukee Ave & Deerfield Rd Riverwoods, IL 60015
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    Milwaukee Ave & Deerfield Rd Riverwoods, IL 60015

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    • Office Spaces
    • 540,000 SF
    For Lease
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    Prime Riverwoods Office Campus For Lease
    Contact for pricing

    Prime Riverwoods Office Campus

    540,000 SF Executive Office Space

    Bannockburn, IL 60015
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 0 Milwaukee Ave & Deerfield Rd

    Property size
    540,000 SF
    Property type
    Office 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 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

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    Similar Nearby for Lease

    • 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
    • $25 SF/Yr

      Former Therapy Day School

      21,206 SF space ideal for educational, medical, community use.
      1161 Lake Cook Rd, Deerfield, IL 60015
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    • $20 SF/Yr

      Mixed-Use Office and Warehouse Space

      Mixed-use office and warehouse building near Metra and Pace bus.
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      21,253 SF

      Bannockburn Office Space Available

      Office building in Bannockburn, IL, offering 21,253 square feet.
      1500 S Lakeside Dr, Bannockburn, IL 60015
      View Details
    • Contact for pricing
      10,362 SF

      Office Space For Lease

      Office space available for lease in Deerfield, Illinois.
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      View Details
    • Contact for pricing
      15,127 SF

      Deerfield Office Space Available

      Conveniently located office space near major transportation routes.
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      View Details
    View Listing
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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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    Milwaukee Ave & Deerfield Rd, Riverwoods, IL, 60015
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