Sign Up Successful!
You now have access to more from Realmo!
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

    240 Town Ctr Ln, Unit 90 Glendale Heights, IL 60139-1750

    • Commercial real estate
    • 59,854 SF
    • 5.81 lot acres
    OFF-MARKET
    Last Sale
    Nov 16, 2022
    $6,250,000
    Value Estimations
    $6,870,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-0141503
    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

    • Shiki Buffet - Glendale Heights / Buffet Restaurant

    Property Details for 240 Town Ctr Ln

    Year built
    1986
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    5.81 lot acres
    Property size
    59,854 SF
    Zone code
    C
    Property type
    Commercial real estate
    APN
    02-22-413-020
    APU
    222413020

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,760,000
      ML approach
      $7,040,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,043,000
      Market price range: $7.04M - $13.0M
      AI Estimate
      $4,334,000
      Market price range: $2.78M - $11.4M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $9,935,000
      Current use
      OFFICE BUILDING
      $10,840,000
      Change: +9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Glendale Heights
    County
    Dupage
    State
    Illinois
    Longitude
    -88.0781
    Latitude
    41.9377
    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
    $138,511
    $672,930
    $787,890
    $1,460,820
    -
    $2,018,790
    $2,363,670
    $4,382,460

    Comparable in this City

    • Value Estimation by Request
      84,830 SF

      500-554 North Ave

      Retail properties • 84,830 SF
      500-554 North Ave, Glendale Heights, IL 60139
      View Details
    • Value Estimation
      $2,325,000
      19,283 SF

      484 En Ave

      COMMERCIAL (GENERAL) • 19,283 SF
      484 En Ave, Glendale Heights, IL 60139-3412
      View Details
    • Value Estimation
      $2,825,000
      23,359 SF

      271 En Ave

      COMMERCIAL (GENERAL) • 23,359 SF
      271 En Ave, Glendale Heights, IL 60139-3790
      View Details
    • Value Estimation
      $1,725,000
      11,580 SF

      808 En Ave

      COMMERCIAL (GENERAL) • 11,580 SF
      808 En Ave, Glendale Heights, IL 60139
      View Details
    • Value Estimation by Request
      2,484 SF

      Nn Ave

      COMMERCIAL (GENERAL) • 2,484 SF
      Nn Ave, Glendale Heights, IL 60139
      View Details
    • Value Estimation by Request
      2,095 SF

      270 Army Trl Rd

      COMMERCIAL (GENERAL) • 2,095 SF
      270 Army Trl Rd, Glendale Heights, IL 60139-1756
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      18,800 SF

      Glendale Heights Flex Space For Lease

      18,800 SF Flex/Warehouse in prime location.
      121 Exchange Blvd, Glendale Heights, IL 60139
      View Details
    • $339,900
      1,556 SF

      Spacious Townhome in Glendale Lakes

      Rare, spacious end-unit townhome with modern amenities and convenient location.
      1400 Club Dr, Glendale Heights, IL 60139
      View Details
    • Contact for pricing
      6,775 SF

      Glendale Heights Retail Showroom

      Prime Retail Space, High Visibility, Warehouse
      168 Army Trail Rd, Glendale Heights, IL 60139
      View Details
    • $179,900
      843 SF

      Updated Condo Overlooking Courtyard

      Move-in ready condo with new carpet, paint, and updated fixtures.
      186 Dunteman Dr, Glendale Heights, IL 60139
      View Details
    • $1,500,000

      Land Near I-355 Interchange

      Multifamily residential land with high traffic visibility.
      1211 President St, Glendale Hts, IL 60139
      View Details
    • $1,125,000
      1.00 Acre

      High-End Office Space Available

      Premium office space with flexible layout and high-end finishes.
      2005 S Bloomingdale Rd, Glendale Heights, IL 60139
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      18,800 SF

      Manufacturing Facility in Glen Pointe

      18,800 SF manufacturing facility with office space for lease.
      121 Exchange Blvd, Glendale Heights, IL 60139
      View Details
    • $44 SF/Yr

      Remodeled Office Space For Rent

      Remodeled office space ideal for professionals, all-inclusive pricing.
      1140 N Main St, Glendale Heights, IL 60139
      View Details
    • $16 SF/Yr
      120,565 SF

      Glendale Heights Medical Office Space

      Prime Medical Office Suites Available
      2164 Bloomingdale Rd, Glendale Heights, IL 60139
      View Details
    • Contact for pricing
      1,000 SF

      Retail Space on Army Trail

      High-traffic shopping center with excellent tenant mix and accessibility.
      314 E Army Trail Rd, Glendale Heights, IL 60139
      View Details
    • $21 SF/Yr
      17,564 SF

      Retail Space in Westlake Plaza

      Retail leasing opportunity in high-traffic Glendale Heights location.
      2240 Bloomingdale Rd, Glendale Heights, IL 60139
      View Details
    • $17 SF/Yr
      15,000 SF

      Newly Renovated Retail Center

      Renovated shopping center with high visibility and diverse tenants.
      1554 Bloomingdale Rd, Glendale Heights, IL 60139
      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.
    240 Town Ctr Ln, Unit 90
    Glendale Heights, IL 60139-1750
    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.