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    Property profile & analytics

    2801 Pfingsten Rd Glenview, IL 60026

    • Retail properties
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Chase Bank / Bank / Atm
    • Chase ATM / Atm
    • Chase Mortgage / Mortgage Lender
    • Ryan Brooks Peschke - Chase Home Lending Advisor - NMLS ID 668069 / Mortgage Lender
    • Kevin Duffy - Chase Home Lending Advisor - NMLS ID 219903 / Mortgage Lender

    Property Details for 2801 Pfingsten Rd

    Property type
    Retail properties
    Property subtype
    Retail space

    Description

    This exceptional retail opportunity presents three available spaces within the Willows Crossing development, located at 2801 Pfingsten Rd, Glenview, IL 60026. Situated at the prominent corner of Willow Road and Pfingsten Road, this multi-tenant property offers unparalleled visibility to the high traffic volume of 47,000 vehicles per day. Space sizes range from 2,600 square feet to 12,000 square feet, providing flexibility for a variety of retail concepts. The property benefits from its ideal location in one of Chicago's most desirable suburban submarkets, the North Shore. This area boasts a significant daytime population fueled by major employers such as Allstate, Allstellas Pharma, North Shore Hospital, and Anixtar, ensuring a robust customer base. The development is described as an exciting new retail opportunity, presenting a rare chance to establish a presence in this thriving community. The property's excellent corner location ensures unobstructed visibility, maximizing exposure for tenants. This is a truly unique opportunity to secure retail space in a high-traffic, high-demand area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Glenview
    County
    Cook
    State
    Illinois
    Longitude
    -87.8491
    Latitude
    42.1057

    Comparable in this City

    • Value Estimation by Request
      413,997 SF

      1820 Tower Dr

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    • Value Estimation
      $4,125,000
      2.62 Acres

      3701 Lk Ave

      STORE, RETAIL OUTLET • 2.62 Acres
      3701 Lk Ave, Glenview, IL 60026-1216
      View Details
    • Value Estimation
      $8,095,000
      1.69 Acres

      2501 Compass Rd

      RETAIL STORES (PERSONAL SERVICES) • 1.69 Acres
      2501 Compass Rd, Glenview, IL 60026-8000
      View Details
    • Value Estimation
      $320,000
      1.87 Acres

      1300 Patriot Blvd

      RETAIL STORES (PERSONAL SERVICES) • 1.87 Acres
      1300 Patriot Blvd, Glenview, IL 60026-7777
      View Details
    • Value Estimation
      $400,000
      0.72 Acres

      2100 Pfingsten Rd

      STORE, RETAIL OUTLET • 0.72 Acres
      2100 Pfingsten Rd, Glenview, IL 60026-1301
      View Details
    • Value Estimation
      $325,000
      3,824 SF

      2160 Chestnut Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,824 SF
      2160 Chestnut Ave, Glenview, IL 60026-1611
      View Details

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    2801 Pfingsten Rd
    Glenview, IL 60026
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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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