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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2815 Forbs Ave Hoffman Estates, IL 60192

    • Retail space
    • 9.01 lot acres
    For Lease
    View listing
    $22 SF/Yr
    Last Sale
    Jul 07, 2022
    $4,000,000
    Value Estimations
    $4,315,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1005630
    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

    • Suburban Boiler Inc. / Hvac Contractor / Air Conditioning Contractor
    • U.S GOLDEN LUBES CORP / Oil Wholesaler
    • DuraShield Roofing & Contracting / Roofing Contractor
    • E3-Tec.com / Chemical Engineering Service
    • AVANSYS / Software Company

    Property Details for 2815 Forbs Ave

    Year built
    2007
    Lot size
    9.01 lot acres
    Property type
    Retail space
    Property subtype
    Storefront properties
    APN
    01-33-300-008
    APU
    133300008

    Description

    This exceptional Class A office space, located at 2815 Forbs Avenue, Suite 107, Hoffman Estates, IL 60192, offers a variety of flexible options within a 12,924 square foot building. The property, renovated in 2019, features 350 suites, with a minimum divisible space of 10 square feet and a maximum contiguous space of 1,300 square feet. Currently, 5,970 square feet are available. The building boasts an impressive glass entrance, large windows providing ample natural light in each suite, and a convenient business lounge. Situated in Cook County, this low-rise building offers easy access to O'Hare International Airport and benefits from excellent road and rail connections to Chicago. The location is ideally situated near a shopping center and a flagship hotel, providing added convenience. Amenities include elevators. The property is categorized as Executive Office, Coworking, and Creative Office space, suitable for a range of professional needs. This prime location combines the tranquility of a scenic forest preserve setting with the accessibility of a major metropolitan area. The building's modern design and convenient amenities make it an ideal choice for businesses seeking a productive and comfortable work environment. Contact us today to explore leasing opportunities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,315,000
      ML approach
      $4,415,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Hoffman Estates
    County
    Cook
    State
    Illinois
    Longitude
    -88.1975
    Latitude
    42.0727
    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
    $261,817
    $686,504
    $313,496
    $1,000,000
    -
    $2,746,016
    $1,253,984
    $4,000,000

    Comparable in this City

    • Value Estimation
      $450,000
      7.30 Acres

      5115 Sedge Blvd

      STORE, RETAIL OUTLET • 7.30 Acres
      5115 Sedge Blvd, Hoffman Estates, IL 60192-3708
      View Details
    • Value Estimation
      $475,000
      5.01 Acres

      5101 Trillium Blvd

      STORE, RETAIL OUTLET • 5.01 Acres
      5101 Trillium Blvd, Hoffman Estates, IL 60192
      View Details
    • Value Estimation
      $520,000
      18.99 Acres

      2600 Forbs Ave

      STORE, RETAIL OUTLET • 18.99 Acres
      2600 Forbs Ave, Hoffman Estates, IL 60192-3723
      View Details
    • Value Estimation
      $525,000
      4.73 Acres

      5450 Pr Stone Pkwy

      STORE, RETAIL OUTLET • 4.73 Acres
      5450 Pr Stone Pkwy, Hoffman Estates, IL 60192-3403
      View Details
    • Value Estimation
      $475,000
      6.82 Acres

      2870 Forbs Ave

      STORE, RETAIL OUTLET • 6.82 Acres
      2870 Forbs Ave, Hoffman Estates, IL 60192-3702
      View Details
    • Value Estimation
      $380,000
      1.96 Acres

      2675 Pratum Ave

      STORE, RETAIL OUTLET • 1.96 Acres
      2675 Pratum Ave, Hoffman Estates, IL 60192-3703
      View Details

    Similar Nearby for Sale

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      Two-story end unit condo with pond views and finished basement.
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      90,000 SF

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      90,000 SF Class A facility in Prairie Stone Business Park.
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      65,000 SF

      Hoffman Estates Medical Office Building

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      90,000 SF

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      90,000 SF Class A Warehouse/R&D
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    Similar Nearby for Lease

    • Contact for pricing
      12,647 SF

      Hoffman Estates Retail Space Available

      Retail space for rent in Hoffman Estates, Illinois.
      2610 Sutton Rd, Hoffman Estates, IL 60192
      View Details
    • Contact for pricing
      4,000 SF

      Retail Space in Hoffman Estates

      Retail space available in Poplar Creek-Prairie Stone Crossing Outlot.
      2500-2530 N Sutton Rd, Hoffman Estates, IL 60192
      View Details
    • Contact for pricing
      1,600 SF

      Restaurant Space with Pylon Signage

      Second generation restaurant space near new developments and strong demographics.
      3029-3041 Barrington Rd, Hoffman Estates, IL 60192
      View Details
    • Contact for pricing
      4,261 SF

      Hoffman Estates Retail Space Available

      Retail space for lease in Hoffman Estates, Illinois.
      2720-2726 Sutton Rd, Hoffman Estates, IL 60192
      View Details
    • $20 SF/Yr
      38,980 SF

      Charles Plaza Retail Center

      Hoffman Estates Retail Space Available
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      View Details
    • Contact for pricing
      1,300 SF

      Hoffman Estates Retail Space Available

      Retail spaces available in Hoffman Estates with high traffic volume.
      2708 N Sutton Rd, Hoffman Estates, IL 60192
      View Details
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    Hoffman Estates, IL 60192
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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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