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

    8780 Golf Rd Niles, IL 60714

    • Office Properties & Spaces
    • 28,950 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dr. Stephen M. Conti, MD / Ophthalmologist
    • Lake Cook Neurological Consultants / Medical Clinic
    • Nicholas Lygizos MD / Physician
    • Jalal Rais-Dana, MD / Pediatrician / Medical Clinic
    • Dr. Jose Biller, MD / Physician / Medical Clinic

    Property Details for 8780 Golf Rd

    Property size
    28,950 SF
    Property type
    Office Properties & Spaces
    Property subtype
    Medical offices

    Description

    This exceptional Niles, Illinois office property, located at 8780 W Golf Rd, offers 28,950 square feet of prime commercial space. Currently, 23,572 square feet is available for lease, divisible into units ranging from 1,011 to a maximum contiguous 9,050 square feet. The building is ideally suited for both executive office and medical office uses, previously housing a Retina Institute & Surgical Center. Multiple tenancy options are available to accommodate various business needs. Situated on a 1.29-acre lot in Cook County, this property boasts convenient access and ample parking. Building amenities include elevators for easy access to all floors. The property's location in Niles, Illinois, zip code 60714, provides excellent visibility and accessibility for clients and employees. This is a rare opportunity to secure high-quality office space in a desirable location. The flexible floor plans allow for customization to meet specific business requirements. Inquire today to learn more about leasing opportunities and explore the potential of this exceptional property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Niles
    County
    Cook
    State
    Illinois
    Longitude
    -87.8445
    Latitude
    42.0548

    Comparable in this City

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      $565,000
      11.03 Acres

      5800 Touhy Ave

      OFFICE BUILDING (MULTI-STORY) • 11.03 Acres
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      1,103,175 SF

      239 Golf Mill Ctr

      Lifestyle centers • 1,103,175 SF
      239 Golf Mill Ctr, Niles, IL 60714
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      6.15 Acres

      7007 Austin Ave

      INDUSTRIAL (GENERAL) • 6.15 Acres
      7007 Austin Ave, Niles, IL 60714-4601
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    • Value Estimation by Request
      9.66 Acres

      7799 Caldwell Ave

      INDUSTRIAL (GENERAL) • 9.66 Acres
      7799 Caldwell Ave, Niles, IL 60714-3318
      View Details
    • Value Estimation by Request
      5.59 Acres

      7540 Caldwell Ave

      INDUSTRIAL (GENERAL) • 5.59 Acres
      7540 Caldwell Ave, Niles, IL 60714-3808
      View Details

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    Similar Nearby for Lease

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    • $18 SF/Yr
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      Niles Office Space Available

      28,950 square foot office space for lease.
      8780 West Golf Rd, Niles, IL 60714
      View Details
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    8780 Golf Rd
    Niles, IL 60714
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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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