Property profile

440 Central Ave Highland Park, IL 60035

OFF-MARKET
Commercial real estate
Property ID
US28-0343580
12,762 SF 0.23 ac lot Built 1945
Entity Owned 3-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional executive office space, located at 440 Central Avenue in Highland Park, Illinois, offers 4,726 square feet of versatile space, currently entirely vacant and available for lease. The building, a two-story Class B structure built in 1945, features impressive 16-foot ceilings and boasts a desirable downtown location. The space is divisible to a minimum of 1,805 square feet, allowing for flexibility to suit various business needs. Amenities include exposed brick walls, hardwood floors, modern lighting, full wiring, Wi-Fi, and substantial backbone capacity. Each unit is equipped with a private kitchen, bathrooms, and a foyer, along with individually controlled HVAC systems and 24-hour access. Several private offices are already built-in, ideal for a variety of professional uses, including technology, architecture, legal, insurance, real estate, or accounting firms. The property is zoned B-4 and has a 200 AMP power supply. The building is conveniently located within walking distance of downtown Highland Park and the Metra train station, with ample public and private parking nearby. Tenants are responsible for their pro-rata share of taxes, CAM, and insurance. Short-term leases will be considered, and the large space is suitable for private events. The APN is 16234090070000.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1945
Construction BRICK
Total area 12,762 SF
Lot 0.23 ac (10,001 SF)
APN 16-23-409-007
UPID US28-0343580

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Law Firm
  • Electric Vehicle Charging Station
  • Association / Organization Business Management Consultant
  • Law Firm

Location

440 Central Ave Highland Park, IL 60035-2688
Highland Park metro Census 865502 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$2.21M
CAP Approach CAP
$2.03M
Comparable Approach Comparable
$2.86M
Blend (final) Blend
$2.13M

Owner & transaction history

since 2022
Last sale
$2.0M
7 recorded transactions
2023
Price N/A
2022
$2.0M
2022
Price N/A
2022
Price N/A
2015
Price N/A
2014
Price N/A
2014
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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