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    3525 Peterson Ave Chicago, IL 60659

    • Office buildings
    • 49,800 SF
    • 0.76 lot acres
    For Lease
    View listing
    $5 SF/Yr
    Value Estimations
    $1,160,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1870605
    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

    • Draper and Kramer Mortgage Corp. / Mortgage Lender
    • Attorney Amina Khan / Attorney
    • Kim David K CPA / Accountant
    • Hwang Kwan Hong CPA / Accountant
    • Suleman Mohammad CPA / Accountant

    Property Details for 3525 Peterson Ave

    Year built
    1965
    Lot size
    0.76 lot acres
    Property size
    49,800 SF
    Property type
    Office buildings
    APN
    13-02-401-044
    APU
    1302401044

    Description

    The Peterson Corporate Center, a six-story Class B office building located at 3525 West Peterson Avenue in Chicago's North Park neighborhood, offers 60,000 square feet of versatile office space. This multi-tenant building provides a range of suite sizes, accommodating businesses needing anywhere from 48 to 8,370 square feet. The property boasts convenient access to public transportation, with bus routes #82 and #84 stopping directly at the building. Free tenant parking is available, a significant advantage in this location. Enjoy floor-to-ceiling windows offering breathtaking views, and the flexibility of partitioning to customize your space to meet specific business needs. The building's prime location offers easy access to major transportation arteries, including the Edens Expressway (I-94) and Lake Shore Drive, and is conveniently situated near O'Hare International Airport. The surrounding area is vibrant and well-established, with a mix of businesses, including retailers, catering to a large residential population. The proximity to Northeastern Illinois University and a short commute to the Chicago Loop adds to the property's appeal. North Park offers a unique blend of suburban tranquility and urban convenience, making it an attractive location for businesses of all sizes. The high daily traffic counts on Peterson Avenue further enhance the visibility and accessibility of this exceptional office building. One acre of land supports this impressive structure.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.717
    Latitude
    41.99
    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
    $211,513
    $149,265
    $875,441
    $1,024,706
    -
    $597,060
    $3,501,764
    $4,098,824

    Comparable in this City

    • Value Estimation
      $285,000
      0.06 Acres

      3514 Peterson Ave

      OFFICE BUILDING (MULTI-STORY) • 0.06 Acres
      3514 Peterson Ave, Chicago, IL 60659
      View Details
    • Value Estimation
      $845,000
      31,200 SF

      3500 Peterson Ave

      OFFICE BUILDING (MULTI-STORY) • 31,200 SF
      3500 Peterson Ave, Chicago, IL 60659-3306
      View Details
    • Value Estimation
      $665,000
      31,200 SF

      3504 Peterson Ave

      OFFICE BUILDING (MULTI-STORY) • 31,200 SF
      3504 Peterson Ave, Chicago, IL 60659
      View Details
    • Value Estimation
      $565,000
      7,500 SF

      6368 Lincoln Ave

      OFFICE BUILDING (MULTI-STORY) • 7,500 SF
      6368 Lincoln Ave, Chicago, IL 60659
      View Details
    • Value Estimation by Request
      7,500 SF

      6366 Lincoln Ave

      OFFICE BUILDING (MULTI-STORY) • 7,500 SF
      6366 Lincoln Ave, Chicago, IL 60659
      View Details
    • Value Estimation
      $705,000
      31,200 SF

      3506 Peterson Ave

      OFFICE BUILDING (MULTI-STORY) • 31,200 SF
      3506 Peterson Ave, Chicago, IL 60659
      View Details

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      Versatile Commercial Property Near Lincoln

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      Office Space on Peterson Avenue

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    Similar Nearby for Lease

    • $950 /Mo
      650 SF

      Professional Office Space Available

      First-floor office space in a professional building for rent.
      2726 W Peterson Ave, Chicago, IL 60659
      View Details
    • $21 SF/Yr
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      Lincoln Ave Office Suites

      Chicago Office Space: Flexible Options
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      View Details
    • $5 SF/Yr
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      Peterson Corporate Center: Chicago Office Space

      60,000 SF Office Building, 74 Suites Available
      3525 Peterson Ave, Chicago, IL 60659
      View Details
    • $8 SF/Yr
      30,000 SF

      Lincoln Ave Office Building

      Chicago Office Space: 47 Suites Available
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    • $9 SF/Yr
      5,000 SF

      Prime Chicago Office Space

      Versatile Suites, West Rogers Park
      2945 Peterson Ave, Chicago, IL 60659
      View Details
    • $15 SF/Yr
      25,000 SF

      Peterson Executive Center: Chicago Office Space

      Chicago Office Suites: Multiple sizes available.
      3500 Peterson Ave, Chicago, IL 60659
      View Details
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    Chicago, IL 60659
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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.

    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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