Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    9628 Forest Hills Rd Machesney Park, IL 61115
    Back to Search
    Property profile & analytics

    9628 Forest Hills Rd Machesney Park, IL 61115

    View on Map
    • Office Spaces
    • 30,000 SF
    • 3.22 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • CVS Coram / Telecommunications Service / Tech Support Center
    • Coinhub Bitcoin ATM Teller / Atm

    Property Details for 9628 Forest Hills Rd

    Lot size
    3.22 lot acres
    Property size
    30,000 SF
    Property type
    Office Spaces
    Property subtype
    Office Units

    Description

    This exceptional 30,000 square foot creative office building, located at 9628 Forest Hills Road in Machesney Park, Illinois, presents a unique investment opportunity. The single-story, Class B building sits on a generous 3.22-acre lot and is ideally situated near Machesney Park's main commercial corridor, offering excellent visibility and accessibility. The property boasts a 14-16 foot clear height, providing ample space for various uses, and includes a robust security system. Abundant parking is available on-site, catering to employees and clients alike. The flexible layout allows for easy conversion of office areas to flex space, adapting to evolving business needs. Its convenient location offers easy access to major transportation arteries, being just three miles from the intersection of I-90 and I-39, and situated north of Route 173. The property is zoned IG, providing versatility for a range of commercial applications. This vacant building presents a blank canvas for a discerning buyer or tenant seeking a well-located, adaptable space in a thriving commercial area. The property's size, features, and location make it an attractive prospect for businesses seeking to establish or expand their operations in Winnebago County, Illinois, zip code 61115.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Machesney Park
    County
    Winnebago
    State
    Illinois
    Longitude
    -89.0152
    Latitude
    42.3689

    Comparable in this City

    • 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
      $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
    • Value Estimation
      $890,000
      7,016 SF

      1700 Hutchins Rd

      OFFICE (GENERAL) • 7,016 SF
      1700 Hutchins Rd, Machesney Park, IL 61115-8360
      View Details
    • Value Estimation
      $1,405,000
      11,864 SF

      8900 2nd St

      OFFICE (GENERAL) • 11,864 SF
      8900 2nd St, Machesney Park, IL 61115-2086
      View Details
    • Value Estimation by Request
      2,666 SF

      6815 2nd St

      OFFICE (GENERAL) • 2,666 SF
      6815 2nd St, Machesney Park, IL 61115-3703
      View Details

    Similar Nearby for Sale

    • 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
    • $31,500
      0.35 Acres

      Residential Lot in Growing Community

      Spacious 0.35-acre lot for a dream home.
      Xxxx Brentwood, Machesney Park, IL 61115
      View Details
    • Contact for pricing
      10,918 SF

      Machesney Park Commercial Building For Sale

      Commercial building with showroom, warehouse, and cold storage.
      9924 N 2Nd St, 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
    • $3,000,000
      2.00 Acres

      Profitable Gas Station Opportunity

      Thriving gas station with strong sales and additional income.
      11225 N 2Nd St, Machesney Park, IL 61115
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,500 SF

      Machesney Park Flex Industrial Space

      Flex industrial building with warehouse, office, and lab space.
      9934 N Alpine Rd, Machesney Park, IL 61115
      View Details
    • Contact for pricing

      Commercial Land Lease Opportunity

      Land available for lease, ground lease, or build to suit.
      1601 W Lane Rd, Loves Park, IL 61115
      View Details
    • Contact for pricing

      Machesney Park Flex Space Available

      Flex space for lease in multi-tenant industrial building.
      9934 N Alpine 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
    • $12 SF/Yr
      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

      Industrial Land at I-90 Interchange

      Industrial land available for rent at a prime location.
      7200 West Lane Rd, 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.
    9628 Forest Hills 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

    Thank You for Inquiry
    9628 Forest Hills Rd, Machesney Park, IL, 61115
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!