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    1300 W Higgins Rd Park Ridge, IL 60068
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    1300 W Higgins Rd Park Ridge, IL 60068

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    • Retail space
    • 3.08 lot acres
    For Lease
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    Class-A Office Near O'Hare Airport For Lease
    Contact for pricing

    Class-A Office Near O'Hare Airport

    Class-A office and medical building near O'Hare and public transit.

    1300 W Higgins Rd, Park Ridge, IL 60068
    View Listing
    Property ID
    US28-0179977
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Koch Foods Inc / Corporate Office
    • First American Title Insurance Company / Title Company / Escrow Service
    • Mantas Law, LLC / Law Firm
    • Edward Jones - Financial Advisor: R.J. Lopez, CFP®|ChFC® / Financial Advisor
    • Hamilton Law Firm / Law Firm

    Property Details for 1300 W Higgins Rd

    Year built
    1984
    Lot size
    3.08 lot acres
    Property type
    Retail space
    Property subtype
    Storefront properties
    APN
    12-02-300-111
    APU
    1202300111

    Description

    This prestigious Class A office building, the O'Hare Corporate Centre, offers exceptional executive office space in Park Ridge, Illinois. Located at 1300 Higgins Road, this three-story building boasts 95,600 square feet of total space, with 23,896 square feet currently available for lease. The building features a stunning three-story atrium with skylights, providing abundant natural light throughout. Its prime location at the four-way interchange of Cumberland Avenue and I-90 ensures high visibility and the opportunity for prominent monument signage. The property sits on a 3.08-acre lot and was built in 1987. Suites range from a minimum of 3,650 square feet to a maximum contiguous space of 9,660 square feet, making it suitable for a variety of business needs. The building has a total of four suites and offers a generous parking ratio of 4 spaces per 1,000 square feet. Cook County location provides easy access to O'Hare International Airport and other major transportation arteries. This is an unparalleled opportunity to secure high-quality office space in a highly desirable location. Contact us today to learn more about available suites and leasing options.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Park Ridge
    County
    Cook
    State
    Illinois
    Longitude
    -87.8422
    Latitude
    41.9878
    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
    $547,944
    $578,582
    $1,497,115
    $2,075,697
    -
    $2,314,328
    $5,988,460
    $8,302,788

    Comparable in this City

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      1550 Nnw Hwy

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      $2,875,000
      18,220 SF

      950 Nnw Hwy

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    • Value Estimation by Request
      0.19 Acres

      10 Cumberland Ave

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      600 Busse Hwy

      STORE, RETAIL OUTLET • 5,500 SF
      600 Busse Hwy, Park Ridge, IL 60068-2568
      View Details
    • Value Estimation
      $1,375,000
      0.09 Acres

      400 Higgins Rd

      STORE, RETAIL OUTLET • 0.09 Acres
      400 Higgins Rd, Park Ridge, IL 60068-5751
      View Details

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      Prime Development Opportunity Near O'Hare

      Development site near transportation, convention center, and airport.
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    View Listing
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    Park Ridge, IL 60068
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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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