Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2345 Waukegan Rd Bannockburn, IL 60015

    • Office buildings
    • 996 SF
    • 10.04 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-0035448
    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

    • Katz, Goldstein & Warren Law Firm / Law Firm
    • Pregis HQ / Corporate Office
    • Leica Microsystems Inc / Marketing & Advertising / Advertising Agency
    • Protective Life Insurance company / Insurance Agency
    • Modern Silicone Technologies / Business Service Center / Corporate Office

    Property Details for 2345 Waukegan Rd

    Year built
    1985
    Construction
    BRICK
    Lot size
    10.04 lot acres
    Property size
    996 SF
    Property type
    Office buildings
    APN
    16-20-100-047
    APU
    1620100047

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Bannockburn
    County
    Lake
    State
    Illinois
    Longitude
    -87.8573
    Latitude
    42.1955
    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
    $256,276
    $1,624,095
    $1,582,571
    $3,206,666
    -
    $4,872,772
    $4,748,188
    $9,620,960

    Comparable in this City

    • Value Estimation
      $530,000
      12.19 Acres

      1751 Lk Cook Rd

      OFFICE BUILDING (MULTI-STORY) • 12.19 Acres
      1751 Lk Cook Rd, Deerfield, IL 60015-5615
      View Details
    • Value Estimation
      $555,000
      6.74 Acres

      1417 Lk Cook Rd

      OFFICE BUILDING (MULTI-STORY) • 6.74 Acres
      1417 Lk Cook Rd, Deerfield, IL 60015-5238
      View Details
    • Value Estimation
      $3,550,000
      26,784 SF

      730 Osterman Ave

      OFFICE BUILDING • 26,784 SF
      730 Osterman Ave, Deerfield, IL 60015
      View Details
    • Value Estimation
      $10,745,000
      2.00 Acres

      111 Pfingsten Rd

      OFFICE BUILDING (MULTI-STORY) • 2.00 Acres
      111 Pfingsten Rd, Deerfield, IL 60015-5616
      View Details
    • Value Estimation by Request
      996 SF

      2355 Waukegan Rd

      OFFICE BUILDING • 996 SF
      2355 Waukegan Rd, Bannockburn, IL 60015-1503
      View Details
    • Value Estimation
      $5,100,000
      2,090 SF

      20276 Wilmot Rd

      OFFICE BUILDING • 2,090 SF
      20276 Wilmot Rd, Deerfield, IL 60015-5146
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Class A Office Building

      98,680 SF Class A office building in North Suburban Chicago.
      2801 Lakeside Dr, Bannockburn, IL 60015
      View Details
    • Contact for pricing

      Office Space Near Metra Station

      Office space with flexible floor plan and convenient transportation access.
      750 Estate Dr, Deerfield, IL 60015
      View Details
    • Contact for pricing

      Deerfield Office Space Available

      Contiguous office space available near downtown Deerfield with highway access.
      1717 Deerfield Rd, Deerfield, IL 60015
      View Details
    • $3,850,000

      Former Therapy Day School Available

      21,206 SF building ideal for educational, medical, community use.
      1161 Lake Cook Rd, Deerfield, IL 60015
      View Details
    • Contact for pricing

      Office/Flex Suites in Deerfield, IL

      Office and flex suites available for lease in Deerfield, Illinois.
      111 Deer Lake Rd, Deerfield, IL 60015
      View Details
    • $395,000
      1.84 Acres

      Bannockburn Land For Sale

      1.84 acre commercial land available in Bannockburn, Illinois.
      5 Dunsinane Ln, Bannockburn, IL 60015
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Renovated Property with Modern Amenities

      Newly renovated property with top-floor conference facilities and heated parking.
      570 Lake Cook Rd, Deerfield, IL 60015
      View Details
    • Contact for pricing

      Bannockburn Professional Center Office Space

      Professional office building near amenities and North Shore Hospital.
      2101 Waukegan Rd, Bannockburn, IL 60015
      View Details
    • Contact for pricing
      13,278 SF

      Six-Story Office Building For Rent

      Six-story office building with connected amenities in Deerfield, IL.
      520 Lake Cook Rd, Deerfield, IL 60015
      View Details
    • Contact for pricing

      Class A Office Building

      98,680 SF office building in North Suburban Chicago.
      2801 Lakeside Dr, Deerfield, IL 60015
      View Details
    • Contact for pricing

      Single-Story Office Building For Rent

      26,367 SF office building with convenient highway and local access.
      750 Estate Dr, Deerfield, IL 60015
      View Details
    • Contact for pricing
      21,253 SF

      Bannockburn Office Building For Rent

      Office building with ample parking and high visibility signage.
      1500 Lakeside Dr, Bannockburn, IL 60015
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2345 Waukegan Rd
    Bannockburn, IL 60015
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!