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    Property profile & analytics

    1099 Lake St Addison, IL 60101

    • Commercial real estate
    • 5,328 SF
    • 0.51 lot acres
    For Sale
    View listing
    $874,900
    Last Sale
    May 21, 2025
    $790,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1372917
    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

    • Ducati Recording Studio / Recording Studio
    • MD Financial / Bank / Credit Union

    Property Details for 1099 Lake St

    Year built
    1988
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.51 lot acres
    Property size
    5,328 SF
    Zone code
    C
    Property type
    Commercial real estate
    APN
    03-20-112-027
    APU
    320112027

    Description

    This exceptional 5,328 square foot retail building is situated on highly desirable Lake Street in Addison, Illinois. Boasting unparalleled visibility with over 35,000 cars passing daily, this property offers a fantastic opportunity for a variety of businesses. The well-maintained, all-brick, free-standing structure features two storefronts with separate entrances, providing flexibility for multiple tenants or a single large operation. The rear of the building includes overhead doors opening to ceilings exceeding 16 feet in height, ideal for storage or specialized uses. The interior includes several private offices and bathrooms, catering to a range of business needs. Mechanical systems have been updated, and a new roof was installed in 2017, ensuring low maintenance costs and long-term value. This prime location, combined with the building's versatile layout and recent improvements, presents an exceptional investment opportunity for discerning buyers seeking high-traffic exposure and a well-maintained property. The property is offered at $824,900. Don't miss this chance to establish your business in a thriving Addison location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $696,000
      Market price range: $290k - $915k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,150,000
      Current use
      MEDICAL BUILDING
      $1,200,000
      Change: +4% Conversion: Easy
      RETAIL STORES
      $1,150,000
      Change: -0% Conversion: Easy
      OFFICE BUILDING
      $955,000
      Change: -17% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Addison
    County
    Dupage
    State
    Illinois
    Longitude
    -88.0155
    Latitude
    41.9432
    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
    $24,963
    $132,990
    $206,120
    $339,110
    -
    $398,970
    $618,360
    $1,017,330

    Comparable in this City

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      446 Lk St

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      6,240 SF

      603 Addison Rd

      COMMERCIAL (GENERAL) • 6,240 SF
      603 Addison Rd, Addison, IL 60101-4648
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    • Value Estimation
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      3,444 SF

      726 Lk St

      COMMERCIAL (GENERAL) • 3,444 SF
      726 Lk St, Addison, IL 60101-2002
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      4,576 SF

      19th Lk St

      COMMERCIAL (GENERAL) • 4,576 SF
      19th Lk St, Addison, IL 60101-2043
      View Details
    • Value Estimation
      $2,050,000
      15,974 SF

      601 Lk St, Unit 17

      COMMERCIAL (GENERAL) • 15,974 SF
      601 Lk St, Addison, IL 60101-2287
      View Details

    Similar Nearby for Sale

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      Addison Commercial Land - Lake St.

      Prime 0.64-acre commercial lot, B-2 zoning.
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      Addison Retail Investment Opportunity

      Lake Street Retail Building, Two Units
      1099 Lake St, Addison, IL 60101
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    • $125,000
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      Charming Condo with Private Balcony

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    Similar Nearby for Lease

    • $17 SF/Yr
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      Addison Retail Storefront For Lease

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    • Contact for pricing
      6,000 SF

      Retail Space on Lake Street

      Retail space available on busy Lake Street in Addison, IL.
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    • $13 SF/Yr
      53,200 SF

      Industrial Unit Near I-355

      Smaller industrial unit with drive-in door, near I-355.
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      View Details
    • $4,100 /Mo
      13,360 SF

      Industrial Unit For Rent

      Industrial unit perfect for contractors or overflow storage.
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      Addison Flex/Industrial Space Available

      Flex/industrial space for rent, conveniently located near I-355.
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    • Contact for pricing
      10,880 SF

      Addison Warehouse Space Available

      Institutionally owned warehouse space with high parking ratio.
      2100 W Corporate Dr, Addison, IL 60101
      View Details
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    1099 Lake St
    Addison, IL 60101
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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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