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

    2720 River Rd Des Plaines, IL 60016

    • Retail space
    • 5.54 lot acres
    For Lease
    View listing
    $9 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2654427
    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

    • Ridgeland Partners / Consultant
    • CSN LLC / Steel Distributor
    • First Midwest Insurance Group / Auto Insurance Agency
    • RAM Communications Inc / Telecommunications Service Provider / Computer Security Service
    • . / Club

    Property Details for 2720 River Rd

    Year built
    1966
    Lot size
    5.54 lot acres
    Property type
    Retail space
    Property subtype
    Storefront properties
    APN
    09-33-203-011
    APU
    933203011

    Description

    This three-story Class B office building, totaling 108,000 square feet, is located at 2720 S River Rd, Des Plaines, IL 60016, in the Suburban - O'Hare submarket of Cook County. The property offers multiple tenancy options with a minimum divisible space of 531 square feet and a maximum contiguous space of 2,499 square feet. Currently, 16,541 square feet of space is vacant and available for lease. Building amenities include a striking atrium lobby with a grand staircase, a convenient conference room, a tenant lounge, and abundant outdoor parking. The building enjoys excellent visibility and easy access to major expressways, I-294 and I-90. Its strategic location provides proximity to O'Hare International Airport, Rivers Casino, Donald E. Stephens Convention Center, Allstate Arena, and the Chicago Prime Outlets, making it an attractive option for businesses seeking convenient access to transportation and entertainment. The property is ideal for businesses seeking flexible office space in a well-maintained building with convenient amenities and a prime location.

    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
    Des Plaines
    County
    Cook
    State
    Illinois
    Longitude
    -87.8666
    Latitude
    42.0036
    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
    $294,119
    $1,085,652
    $57,378
    $1,143,030
    -
    $4,342,608
    $229,512
    $4,572,120

    Comparable in this City

    • Value Estimation by Request

      Des Plaines, IL 60018

      STORE, RETAIL OUTLET
      Des Plaines, IL 60018
      View Details
    • Value Estimation by Request

      3000 Riv Rd

      STORE, RETAIL OUTLET
      3000 Riv Rd, Des Plaines, IL 60018-4201
      View Details
    • Value Estimation by Request
      5.82 Acres

      2250 Devon Ave

      STORE, RETAIL OUTLET • 5.82 Acres
      2250 Devon Ave, Des Plaines, IL 60018-4511
      View Details
    • Value Estimation by Request

      2500 Devon Ave Ste, Unit 250

      STORE, RETAIL OUTLET
      2500 Devon Ave Ste, Des Plaines, IL 60018-4908
      View Details
    • Value Estimation by Request
      1.61 Acres

      1695 Riv Rd

      STORE, RETAIL OUTLET • 1.61 Acres
      1695 Riv Rd, Des Plaines, IL 60018-2205
      View Details
    • Value Estimation
      $510,000
      5.64 Acres

      2200 Devon Ave Ste, Unit 314

      STORE, RETAIL OUTLET • 5.64 Acres
      2200 Devon Ave Ste, Des Plaines, IL 60018-4510
      View Details

    Similar Nearby for Sale

    • $699,900

      Turnkey Restaurant Opportunity For Sale

      Freestanding building with equipment and parking in high-traffic area.
      1640 S River Rd, Des Plaines, IL 60018
      View Details
    • Contact for pricing
      16,246 SF

      Retail Center Anchored by Starbucks

      Multi-tenant retail center in prime commercial area near O’Hare.
      9500-9520 W Higgins Rd, Des Plaines, IL 60018
      View Details
    • $10,500,000
      6,865 SF

      Newer Retail Building Near Airport

      6,865 SF building near O’Hare International Airport.
      2392 S Wolf Rd, Des Plaines, IL 60018
      View Details
    • $559,000
      3,000 SF

      Established Auto Repair Facility

      Auto repair facility with excellent visibility in a mixed-use corridor.
      1580 S Cora St, Des Plaines, IL 60018
      View Details
    • $3,592,000
      2,818 SF

      Freestanding Raising Cane's Restaurant

      Single-tenant Raising Cane's on NNN ground lease.
      2777 Mannheim Rd, Des Plaines, IL 60018
      View Details
    • $1,475,000

      Des Plaines Mobil Station - Huge Potential

      High-traffic location, redevelopment opportunity.
      1602 River Rd, Des Plaines, IL 60018
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,625 SF

      Retail Space in Community Center

      Retail space in major community center with high traffic.
      1555-1591 Lee St, Des Plaines, IL 60018
      View Details
    • $22 SF/Yr
      1,504 SF

      Retail Space Near Highway 294

      Highly visible retail center with ample parking and pylon sign.
      1926 S River Rd, Des Plaines, IL 60018
      View Details
    • Contact for pricing
      2,250 SF

      Retail Space in Community Center

      Retail space available in a high-traffic community center.
      1521-1565 Lee St, Des Plaines, IL 60018
      View Details
    • Contact for pricing
      3,600 SF

      Oak Leaf Commons Retail Space

      Grocery-anchored center; two spaces available.
      1500 Lee St, Des Plaines, IL 60018
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space in Oak Leaf Commons

      Retail space available in a Jewel-anchored shopping center.
      1456-1500 Lee St, Des Plaines, IL 60018
      View Details
    • Contact for pricing
      32,595 SF

      Community Center Retail Space Available

      Retail space in a major community center with high traffic.
      1515 Lee St, Des Plaines, IL 60018
      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.
    2720 River Rd
    Des Plaines, IL 60016
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.