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    Unknown Northfield, IL 60093
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    Unknown Northfield, IL 60093

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    • Residential income homes
    • 3,137 SF
    • 0.06 lot acres
    For Sale
    $579,000
    View Listing →
    Mixed-Use Building Near Interstate For Sale
    $579,000
    3,137 SF

    Mixed-Use Building Near Interstate

    Two-story mixed-use building with retail, office, and apartment.

    1652 Willow Road, Northfield, IL 60093
    View Listing
    Property ID
    US28-0493999
    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

    • Ums of Il & Solutions / Loan Service

    Property Details for Unknown

    Year built
    1940
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.06 lot acres
    Property size
    3,137 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    05-19-303-010
    APU
    519303010

    Description

    This exceptional 3,137 square foot mixed-use building presents a unique investment opportunity in the desirable Northfield, IL area. Situated on Willow Road, this two-story property boasts excellent street visibility and convenient access to major roadways and interstates, including easy commutes to O'Hare Airport and downtown Chicago. The first floor offers a spacious, updated commercial space currently leased for $2,500 per month under a month-to-month agreement, including a dedicated storage room. This provides immediate income potential for the new owner. The second floor comprises a comfortable two-bedroom, one-bathroom apartment with additional office space, ideal for owner occupancy or as a separate rental unit. The property is located within the highly-regarded Northfield School District, encompassing Sunset Middlefork Primary and New Trier schools. One to two rear parking spaces are included. This property offers a rare blend of residential and commercial space, making it perfect for an owner-operator seeking to combine living and business operations or an investor looking for a strong rental income stream in a prime Northwest suburban location. The building is in excellent condition and benefits from its proximity to major transportation arteries and highly-rated schools.

    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
    Northfield
    County
    Cook
    State
    Illinois
    Longitude
    -87.7655
    Latitude
    42.1011
    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
    $11,270
    $4,000
    $49,000
    $53,000
    -
    $40,000
    $490,000
    $530,000

    Comparable in this City

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      840 Grn Bay Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,948 SF
      840 Grn Bay Rd, Winnetka, IL 60093-1864
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    • Value Estimation by Request
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      803 Oak St

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,462 SF
      803 Oak St, Winnetka, IL 60093-2516
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    • Value Estimation
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      328 Frontage Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,352 SF
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    • Value Estimation by Request
      2,366 SF

      490 Ash St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,366 SF
      490 Ash St, Winnetka, IL 60093
      View Details
    • Value Estimation
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      5,452 SF

      964 Grn Bay Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,452 SF
      964 Grn Bay Rd, Winnetka, IL 60093-1716
      View Details

    Similar Nearby for Sale

    • $510,000
      2,500 SF

      Mixed-Use Building For Sale

      Retail space with apartments in a good location.
      1650 Willow Rd, Northfield, IL 60093
      View Details
    • $579,000
      3,137 SF

      Mixed-Use Building Near Interstate

      Two-story mixed-use building with retail, office, and apartment.
      Unknown, Northfield, IL 60093
      View Details
    • $1,290,000
      1.36 Acres

      Land in Northfield, Illinois

      1.36 acre commercial land for sale in Northfield.
      2033 Winnetka Rd, Northfield, IL 60093
      View Details
    • $1,390,000
      1.36 Acres

      Northfield Land For Sale

      1.36 acre commercial land available in Northfield, Illinois.
      118 Dickens Rd, Northfield, IL 60093
      View Details
    • $509,000
      2,500 SF

      Northfield Mixed-Use Investment Opportunity

      Prime location, two apartments, ground floor space.
      1650 Willow Rd, Northfield, IL 60093
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      3,315 SF

      Loft-Style Office Space Available

      Loft-style office space for short-term lease in Winnetka.
      1007 Tower Ct, Winnetka, IL 60093
      View Details
    • $10 SF/Yr

      Office Space Available For Rent

      Office space available for lease at 142 Green Bay Rd.
      142 Green Bay Rd, Winnetka, IL 60093
      View Details
    • Contact for pricing
      47,113 SF

      Northfield Retail Space For Lease

      47,113 SF retail space with dedicated parking.
      1822 Willow Rd, Northfield, IL 60093
      View Details
    • Contact for pricing
      732 SF

      Retail Space in Hubbard Woods

      Versatile retail space in high-traffic shopping district near Metra.
      940 Green Bay Rd, Winnetka, IL 60093
      View Details
    • Contact for pricing
      2,100 SF

      Retail Space in Winnetka Center

      Retail space available in Jewel-Osco anchored shopping center.
      304 3Rd St, Winnetka, IL 60093
      View Details
    • Contact for pricing

      Retail Space in Northfield

      Retail space in affluent Northfield near restaurants and amenities.
      314 Happ Rd, Northfield, IL 60093
      View Details
    View Listing
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    Northfield, IL 60093
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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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