450 Skokie Blvd Northbrook, IL 60062
- Office Properties & Spaces
- 7.88 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 450 Skokie Blvd
- Year built
- 1986
- Lot size
- 7.88 lot acres
- Property type
- Office Properties & Spaces
- APN
- 04-02-400-005-1004
- APU
- 4024000051004
Description
This exceptional single-story office condo in Northbrook, Illinois, offers 5,295 square feet of meticulously finished space, ideally suited for owner-occupancy or investment. Currently divided into two suites (approximately 1,375 and 3,920 square feet), both are available for lease, or the entire property can be purchased. The smaller suite is currently leased on a short-term basis, generating annual rent of $25,369. The larger space is immediately available. Located at 450 Skokie Blvd, this property boasts a prime location in a highly sought-after area, conveniently situated near I-94, abundant shopping and dining options, and the entire North Shore/North Suburban Chicago market. Built in 1975 and extensively renovated in 2014, this property is part of an 11-building office condo development, offering a beautiful, tree-lined setting with a stream and serene outdoor space. The property sits on a 343,253 square foot lot and is zoned C-5. Cook County APN is 04-02-400-005-1019. The surrounding area is affluent, with a 3-mile radius boasting average household incomes exceeding $172,000 annually and average home prices over $630,000. The property's proximity to the new NorthShore 770 development, featuring popular retailers like Mariano's and Chipotle, further enhances its desirability. This is a rare opportunity to acquire a high-quality office space in a thriving Northbrook location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $280,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $240,000
- 6.5%
- $270,000
- 7%
- $260,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $260,000
- Geo Method
- $250,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $285,000
- Retail
- $275,000
- Mixed-Use
- $205,000
- Hospitality
- $265,000
- Educational
- $285,000
- Residential Income
- $215,000
- Energy
- $245,000
- Income-Based Land
- $240,000
- Food Service
- $215,000
Location Insight
- Map
- Local Demand
- City
- Northbrook
- County
- Cook
- State
- Illinois
- Longitude
- -87.7975
- Latitude
- 42.1421
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA