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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1060 Lk St Hanover Park, IL 60133-5400

    • Office buildings
    • 9,157 SF
    • 0.99 lot acres
    OFF-MARKET
    Value Estimations
    $1,640,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2906736
    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

    • Kristen Forbes at CrossCountry Mortgage / Loan Service / Bank
    • Todd Holzknecht at CrossCountry Mortgage, LLC / Loan Service / Bank
    • HANOVER Park / Medical Laboratory
    • Rocky DiTuri at CrossCountry Mortgage | NMLS# 224750 / Loan Service / Bank
    • Begum C / Specialty Food Shop

    Property Details for 1060 Lk St

    Year built
    1987
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.99 lot acres
    Property size
    9,157 SF
    Zone code
    C
    Property type
    Office buildings
    APN
    02-06-406-009
    APU
    206406009

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,245,000
      6.5%
      $2,070,000
      7%
      $1,925,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,634,000
      Market price range: $1.07M - $2.36M
      AI Estimate
      $1,214,000
      Market price range: $571k - $1.89M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,640,000
      Current use
      MEDICAL BUILDING
      $2,065,000
      Change: +26% Conversion: Easy
      RETAIL STORES
      $1,975,000
      Change: +20% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Hanover Park
    County
    Dupage
    State
    Illinois
    Longitude
    -88.1307
    Latitude
    41.9767
    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
    2023
    $29,865
    $133,190
    $209,110
    $342,300
    -
    $399,570
    $627,330
    $1,026,900

    Comparable in this City

    • Value Estimation by Request
      1,469 SF

      25th Army Trl Rd

      OFFICE BUILDING • 1,469 SF
      25th Army Trl Rd, Hanover Park, IL 60133-6236
      View Details
    • Value Estimation
      $4,275,000
      35,422 SF

      1515 Lk St

      OFFICE BUILDING • 35,422 SF
      1515 Lk St, Hanover Park, IL 60133-4869
      View Details
    • Value Estimation by Request
      0.77 Acres

      7310 Barrington Rd

      RETAIL STORES (PERSONAL SERVICES) • 0.77 Acres
      7310 Barrington Rd, Hanover Park, IL 60133-3313
      View Details
    • Value Estimation by Request
      0.22 Acres

      1920 Elm Ct

      GARDEN APT, COURT APT (5+ UNITS) • 0.22 Acres
      1920 Elm Ct, Hanover Park, IL 60133-6820
      View Details
    • Value Estimation by Request
      0.32 Acres

      2331 Walnut Ave

      AUTO REPAIR, GARAGE • 0.32 Acres
      2331 Walnut Ave, Hanover Park, IL 60133-3833
      View Details
    • Value Estimation by Request
      0.26 Acres

      7450 Jensen Blvd

      AUTO REPAIR, GARAGE • 0.26 Acres
      7450 Jensen Blvd, Hanover Park, IL 60133-2251
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      13,500 SF

      Tenant-Occupied Office Building For Sale

      Tenant-occupied office building with an 8.5% cap rate.
      1060 E Lake St, Hanover Park, IL 60133
      View Details
    • Contact for pricing
      6,600 SF

      Hanover Park Medical/Office Building

      6,600 SF building with move-in ready dental space.
      2071 Irving Park Rd, Hanover Park, IL 60133
      View Details
    • Contact for pricing
      6,600 SF

      Move-In Ready Dental Space

      Dental space available for sale with signage opportunities.
      2071 Irving Park Rd, Hanover Park, IL 60133
      View Details
    • $550,000
      0.66 Acres

      Commercial Property in Hanover Park

      Commercial property for sale in Hanover Park, Illinois.
      2630 Lake St W, Hanover Park, IL 60133
      View Details
    • Contact for pricing

      Prime Land For Sale

      0.66-acre commercial land with high visibility and redevelopment potential.
      2630 W Lake St, Hanover Park, IL 60133
      View Details
    • $99,900
      0.02 Acres

      Turn-Key Restaurant Hanover Park

      Fully equipped restaurant for sale on busy Barrington Road.
      6602 N Barrington Rd, Hanover Park, IL 60133
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Upgraded Office and Retail Building

      Three-story building near expressway and Metra station with renovations underway.
      1300 Greenbrook Blvd, Hanover Park, IL 60133
      View Details
    • Contact for pricing

      Renovated Office Space For Rent

      Recently renovated office/medical space with kitchen, bathroom, and storage.
      1645 Irving Park Rd, Hanover Park, IL 60133
      View Details
    • Contact for pricing
      43,560 SF

      Office Space in Hanover Park

      Office space with basement storage in convenient Hanover Park location.
      1255 Bamberg Ct, Hanover Park, IL 60133
      View Details
    • Contact for pricing
      43,560 SF

      Office Space in Hanover Park

      Office space for lease with basement storage in Hanover Park.
      1255 Bamberg Ct, Hanover Park, IL 60133
      View Details
    • Contact for pricing

      Renovated Office/Medical Spaces Available

      Recently renovated office and medical spaces for lease.
      1645 W Irving Park Rd, Hanover Park, IL 60133
      View Details
    • Contact for pricing

      Renovated Office Space Available

      Recently renovated office/medical space with included utilities in high-traffic area.
      1645 Irving Park Rd, Hanover Park, IL 60133
      View Details
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    1060 Lk St
    Hanover Park, IL 60133-5400
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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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