Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    5202 Old Orchard Rd Skokie, IL 60077

    • Office buildings
    For Lease
    View listing
    $1.00 SF/Yr
    Last Sale
    Mar 26, 2024
    $7,850,000
    Value Estimations
    $7,850,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-3069465
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Kaufman Hall / Business Management Consultant / Corporate Office
    • Edwin L Feld & Associates, LLC / Bankruptcy Attorney
    • Zeller Realty / Real Estate Agency
    • Scheck & Siress: A Hanger Clinic Company / Orthotics & Prosthetics Service / Orthopedic Clinic
    • Dr. Robert Shapiro / Surgeon

    Property Details for 5202 Old Orchard Rd

    Property type
    Office buildings
    APN
    10-09-102-063
    APU
    1009102063

    Description

    This exceptional Skokie, IL property, Old Orchard Towers, offers 170,000 square feet of prime office space across two Class A buildings. Located at 5202 Old Orchard Rd (North Tower), this multi-tenant property boasts a highly desirable North Shore location, convenient to the Edens Expressway (I-94). The buildings, constructed in 1987 and extensively renovated in 2022, feature 7 stories each, 7 elevators, and 1100 parking spaces in an attached 5-story structure. Units range from 1,500 to 120,000 contiguous square feet, with 120,000 square feet currently vacant. The property sits on 10 acres of land and is zoned commercial. Amenities include LEED Gold certification, full sprinkler systems, ADA compliance, and proximity to Life Time Fitness, Old Orchard Mall (with over 140 stores and restaurants), and Endeavor Health Skokie Hospital (NorthShore Hospital). The location is further enhanced by its proximity to four hotels with over 870 rooms. This versatile property is ideal for medical offices, traditional offices, coworking spaces, and executive suites. The property's strategic location and modern amenities make it an unparalleled opportunity in the competitive North Shore market. The property is easily accessible from I-94 and offers a variety of space options to suit diverse business needs.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,850,000
      ML approach
      $7,850,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Skokie
    County
    Cook
    State
    Illinois
    Longitude
    -87.7579
    Latitude
    42.064
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $2,310,769
    $1,145,084
    $8,357,834
    $9,502,918
    -
    $4,580,336
    $33,431,336
    $38,011,672

    Comparable in this City

    • Value Estimation
      $450,000
      2.21 Acres

      5500 Touhy Ave

      OFFICE BUILDING (MULTI-STORY) • 2.21 Acres
      5500 Touhy Ave, Skokie, IL 60077-3234
      View Details
    • Value Estimation by Request

      9933 Woods Dr

      OFFICE BUILDING (MULTI-STORY)
      9933 Woods Dr, Skokie, IL 60077-1049
      View Details
    • Value Estimation
      $3,415,000

      9801 Woods Dr

      OFFICE BUILDING (MULTI-STORY)
      9801 Woods Dr, Skokie, IL 60077-1074
      View Details
    • Value Estimation by Request

      Skokie, IL 60077

      OFFICE BUILDING (MULTI-STORY)
      Skokie, IL 60077
      View Details
    • Value Estimation by Request

      Skokie, IL 60077

      OFFICE BUILDING (MULTI-STORY)
      Skokie, IL 60077
      View Details
    • Value Estimation
      $515,000
      0.34 Acres

      64 Old Orch Shopping Ctr

      OFFICE BUILDING (MULTI-STORY) • 0.34 Acres
      64 Old Orch Shopping Ctr, Skokie, IL 60077-1425
      View Details

    Similar Nearby for Sale

    • $2,385,000
      0.35 Acres

      Skokie Office Building For Sale

      Office building near Old Orchard Shopping Center and Skokie Hospital.
      5135 Golf Rd, Skokie, IL 60077
      View Details
    • $10,000,000
      105,000 SF

      Downtown Skokie Development Opportunity

      Prime 3.2-acre site, redevelopment potential
      8001 Lincoln Ave, Skokie, IL 60077
      View Details
    • $320,000
      1,628 SF

      Skokie Office Space For Sale

      Office space in Skokie's Lincoln Avenue corridor, ideal for owner/user.
      8035 Lincoln Ave, Skokie, IL 60077
      View Details
    • $579,000
      0.07 Acres

      Skokie Mixed-Use Live/Work Opportunity

      Mixed-use property in Skokie's business district with live/work potential.
      4811 Main St, Skokie, IL 60077
      View Details
    • $1,000,000
      6,326 SF

      Skokie Retail Building: Prime Investment

      Four-unit retail building, fully leased, high returns.
      8046 Lincoln Ave, Skokie, IL 60077
      View Details
    • $2,050,000
      2.52 Acres

      Skokie Development Opportunity

      2.52 Acres, Prime Location, $2.05M
      10070 Lockwood Ave, Skokie, IL 60077
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr

      Skokie Professional Office Building

      Six-story office building near Old Orchard Mall available for lease.
      9933 Lawler Ave, Skokie, IL 60077
      View Details
    • $18 SF/Yr

      Skokie Office Building For Rent

      Eight-story office building with parking in downtown Skokie.
      8001 Lincoln Ave, Skokie, IL 60077
      View Details
    • $22 SF/Yr
      15,656 SF

      Regus Old Orchard Office Suites

      Modern Cook County office space, flexible options.
      5250 Old Orchard Rd, Skokie, IL 60077
      View Details
    • $20 SF/Yr
      120,000 SF

      Skokie Office Building for Lease

      Prime Skokie location, multiple suites available
      9933 Lawler Ave, Skokie, IL 60077
      View Details
    • $18 SF/Yr
      4,996 SF

      Skokie Office Space For Rent

      Office space with easy access to transportation and amenities.
      5215 Old Orchard Rd, Skokie, IL 60077
      View Details
    • Contact for pricing
      6,098 SF

      Skokie Mixed-Use Building For Lease

      Mixed-use building in Skokie's downtown entertainment corridor, built in 2000.
      7880 Lincoln Ave, Skokie, IL 60077
      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.
    5202 Old Orchard Rd
    Skokie, IL 60077
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.