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    289 Peterson Rd Libertyville, IL 60048

    • Medical space
    For Lease
    View listing
    $21 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Medical space

    Property Details for 289 Peterson Rd

    Year built
    1987
    Property type
    Medical space

    Description

    Position your business for success in the heart of Libertyville’s thriving commercial corridor! This 1,150 sq. ft. modern office space is move-in ready and designed to meet the needs of today’s growing businesses. * Property Highlights: Professional Build-Out: Three private offices for team collaboration or client meetings Freshly Renovated: Brand-new flooring + fresh paint for a modern, polished look High Visibility: Frontage on Peterson Rd, with 32,000+ vehicles passing daily Convenient Access: Ground-level entry, ample parking, close to I-94 & public transit Flexible Use: Perfect for offices, professional services, startups, or specialty businesses 🌟 Why Choose This Space? Prime location near major retailers, restaurants, and neighborhoods A professional setting that makes the right impression on clients and employees 📍 Take advantage of this rare leasing opportunity! Establish your business in one of Libertyville’s most visible and accessible locations—where convenience, style, and practicality meet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Libertyville
    County
    State
    Illinois
    Longitude
    -87.9602576
    Latitude
    42.306028

    Comparable in this City

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    Similar Nearby for Lease

    • $22 SF/Yr

      287 Peterson Rd, Libertyville, IL - 60048 - Lease

      Prime Corner Office / Retail / Commercial Property with Exceptional Visibility
      287 Peterson Rd, Libertyville, IL 60048
      View Details
    • Contact for pricing
      3,500 SF

      Retail Space in Libertyville Center

      Retail location with high visibility and affluent neighborhood.
      1413-1451 Peterson Rd, Libertyville, IL 60048
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space in Libertyville Center

      Retail location with high visibility and affluent neighborhood.
      1443-1449 Peterson Rd, Libertyville, IL 60048
      View Details
    • $15 SF/Yr
      18,994 SF

      GreenTree Plaza: Libertyville Office Space

      Prime Libertyville Office Suites Available
      1153 Milwaukee Ave, Libertyville, IL 60048
      View Details
    • $22 SF/Yr
      1,353 SF

      Medical Space in Libertyville

      1,353 SF fully built-out medical space for lease.
      1742-1768 N Milwaukee Ave, Libertyville, IL 60048
      View Details
    • Contact for pricing
      151,840 SF

      Red Top Plaza: Libertyville Office Suites

      Grocery-anchored Libertyville office space available.
      1300-1440 Milwaukee Ave, Libertyville, IL 60048
      View Details
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    289 Peterson Rd
    Libertyville, IL 60048
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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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