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    1910 1St St Highland Park, IL 60035
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    Property profile & analytics

    1910 1St St Highland Park, IL 60035

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    • Office buildings
    • 25,400 SF
    • 0.17 lot acres
    For Lease
    $20 SF/Yr
    View Listing →
    Mixed-Use Building in Downtown Highland For Lease
    $20 SF/Yr

    Mixed-Use Building in Downtown Highland

    Mixed-use retail and office building in downtown Highland Park.

    1910 1st St, Highland Park, IL 60035
    View Listing
    Property ID
    US28-1527713
    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

    • Blue Margarita's Mexican Restaurant / Restaurant
    • Little Steps Pediatric Therapy / Physician
    • KAIZEN Electrolysis / Hair Salon / Skin Care Clinic
    • Little Steps Pediatric Therapy - ABA Therapy / Medical Clinic
    • Ana Shpilman Facial Clinic: Lymphatic Drainage, Microcurrent, Microneedling, Che / Spa & Massage Center / Skin Care Clinic

    Property Details for 1910 1St St

    Year built
    1990
    Construction
    BRICK
    Lot size
    0.17 lot acres
    Property size
    25,400 SF
    Property type
    Office buildings
    APN
    16-23-309-020
    APU
    1623309020

    Description

    This four-story, 28,000 square foot Class B building offers a mix of executive, traditional, creative, and medical office spaces, along with retail options. Located at 1910 1st St, Highland Park, IL 60035, this multi-tenant property sits on 0.19 acres in Lake County. The building features elevators and boasts stunning downtown views from the upper two floors. Available office suites range from 663 to 1,049 square feet. The building's prime location in downtown Highland Park offers easy access to over 100 retailers, award-winning restaurants, and benefits from a high employment rate. Highland Park's vibrant downtown area has been recognized for its excellence, consistently ranking among the best places to live and work in Illinois. This mixed-use building presents a unique opportunity to establish a presence in a thriving and desirable community. The building's retail space complements the office offerings, creating a dynamic and convenient environment for tenants. Contact us today to learn more about available spaces and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,213,000
      Market price range: $897k - $2.83M

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

    Location Insight

    • Map
    • Local Demand
    City
    Highland Park
    County
    Lake
    State
    Illinois
    Longitude
    -87.801
    Latitude
    42.187
    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
    $47,139
    $145,635
    $547,506
    $693,141
    -
    $436,949
    $1,642,682
    $2,079,631

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      1292 Old Skokie Rd

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      2665 Waukegan Ave

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      777 Central Ave

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      View Details
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      33,721 SF

      445 Central Ave

      OFFICE BUILDING • 33,721 SF
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      View Details

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      Mixed-Use Development Site Opportunity

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    Similar Nearby for Lease

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      Mixed-Use Building in Downtown Highland

      Mixed-use retail and office building in downtown Highland Park.
      1910 1St St, Highland Park, IL 60035
      View Details
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      Highland Park Professional Office Space

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      Premier Office Space in Highland

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      View Details
    View Listing
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    Highland Park, IL 60035
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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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