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    1184 W Roosevelt Rd Glen Ellyn, IL 60137

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    1184 W Roosevelt Rd Glen Ellyn, IL 60137

    View on Map
    • Retail space
    • 23,108 SF
    • 1.97 lot acres
    For Lease
    $1,640,000
    View Listing →
    Glen Ellyn Retail Center Redevelopment For Lease
    $1,640,000
    22,630 SF

    Glen Ellyn Retail Center Redevelopment

    22,630 SF retail center undergoing redevelopment in 2025.

    1184 W Roosevelt Rd, Glen Ellyn, IL 60137
    View Listing
    Property ID
    US28-2342016
    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.
    Value Estimations
    $1,640,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 1184 W Roosevelt Rd

    Year built
    1988
    Lot size
    1.97 lot acres
    Property size
    23,108 SF
    Zone code
    C
    Property type
    Retail space
    APN
    06-18-305-013
    APU
    618305013

    Description

    Legacy Shops of Glen Ellyn offers exceptional retail space in a prime DuPage County location. This 22,630 square foot, single-story Class B shopping center, built in 1983, is undergoing a complete redevelopment in 2023, including a new roof, parking lot, and modern facades. The property boasts a highly visible location on Roosevelt Road (38,000 daily vehicles), one block from I-355 access ramps, within the bustling Lombard/Glen Ellyn retail corridor. Units range from 800 to 3,200 contiguous square feet, with a minimum divisible space of 800 square feet. The redevelopment plan features an attractive outdoor patio and new, large signage for maximum visibility. The center is already anchored by Fry The Coop, a regional Nashville Hot Chicken restaurant, occupying an endcap space and serving as a commissary for other locations. Lure Lofts, a high-end salon and beauty studio, has also signed a lease. This strategic location benefits from high traffic counts and proximity to key businesses including a Mariano's Grocery Store, Cadillac Dealership, Crowne Plaza Hotel, and a Toyota dealership, all within a one-block radius. The property is also surrounded by numerous residential complexes and subdivisions, ensuring a strong customer base. Annual property taxes are $4 per square foot. This is a unique opportunity to be part of a revitalized shopping center in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,620,000
      ML approach
      $1,600,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,056,000
      Market price range: $1.06M - $3.63M

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

    Location Insight

    • Map
    • Local Demand
    City
    Glen Ellyn
    County
    Dupage
    State
    Illinois
    Longitude
    -88.0327
    Latitude
    41.8602
    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
    $45,353
    $376,900
    $178,070
    $554,970
    -
    $1,130,700
    $534,210
    $1,664,910

    Comparable in this City

    • Value Estimation by Request
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      View Details
    • Value Estimation
      $32,060,000
      0.24 Acres

      599 Roosevelt Rd, Unit 615

      RETAIL STORES (PERSONAL SERVICES) • 0.24 Acres
      599 Roosevelt Rd, Glen Ellyn, IL 60137-5797
      View Details
    • Value Estimation
      $945,000
      5,106 SF

      515 Cres Blvd

      RETAIL STORES (PERSONAL SERVICES) • 5,106 SF
      515 Cres Blvd, Glen Ellyn, IL 60137-4502
      View Details
    • Value Estimation
      $1,615,000
      0.18 Acres

      479 Roosevelt Rd, Unit 483

      RETAIL STORES (PERSONAL SERVICES) • 0.18 Acres
      479 Roosevelt Rd, Glen Ellyn, IL 60137-5641
      View Details
    • Value Estimation
      $615,000
      4,017 SF

      803 Main St, Unit 07

      RETAIL STORES (PERSONAL SERVICES) • 4,017 SF
      803 Main St, Glen Ellyn, IL 60137-3909
      View Details
    • Value Estimation
      $610,000
      3,770 SF

      488 Cres Blvd

      RETAIL STORES (PERSONAL SERVICES) • 3,770 SF
      488 Cres Blvd, Glen Ellyn, IL 60137-4544
      View Details

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      2,893 SF

      Glen Ellyn Retail Opportunity

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    • $28 SF/Yr

      Glen Ellyn Retail Redevelopment

      Retail center redevelopment with drive-thru, available Summer 2022.
      1184 Roosevelt Rd, Glen Ellyn, IL 60137
      View Details
    View Listing
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    Glen Ellyn, IL 60137
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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.

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    1184 W Roosevelt Rd, Glen Ellyn, IL, 60137

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