Technical
Financial
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Property profile

701 Lee St Des Plaines, IL 60016

OFF-MARKET
Office buildings
Property ID
US28-2700542
0.53 ac lot Built 1978
Entity Owned 7-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional Class A office building, located at 701 Lee Street in downtown Des Plaines, offers 174,154 square feet of versatile space. The ten-story building features a variety of office configurations, suitable for executive, traditional, medical, and creative office uses, with 59 spaces currently available, ranging from 20 to 11,900 square feet. Multiple tenancy options are available. The property boasts a convenient location, just half a block from the Metra train station providing easy access to downtown Chicago via the Union Pacific Northwest line. Public transportation is readily available with Pace Bus routes #226, #230, and #250 servicing the building. On-site amenities include a four-level attached parking garage, high-speed elevators, upgraded common areas, a breakroom, and full ADA accessibility. The building is fully sprinklered for enhanced safety. Des Plaines is highly ranked as a desirable place to live and work, and the downtown area offers a variety of restaurants, retailers, and essential services within walking distance, including the Des Plaines Public Library, City Hall, Police Department, and the USPS. The property enjoys excellent access to major transportation arteries, with O'Hare International Airport a short 10-minute drive away, I-294 (Tri-State Tollway) one mile east, and I-90 (Jane Addams Memorial Tollway) 2.4 miles south. The 0.58-acre site is situated in Cook County.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING (MULTI-STORY)
Year built 1978
Lot 0.53 ac (23,163 SF)
APN 09-17-419-030
UPID US28-2700542

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
  • Financial Advisor
  • Big Box & Wholesale Store
  • Counselor
  • Engineering Consultant
  • Business Management Consultant

Location

701 Lee St Des Plaines, IL 60016-4539
Des Plaines metro Census 806202 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$8.50M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$8.50M

Owner & transaction history

since 2018
Last sale
$8.5M
7 recorded transactions
2018
$8.5M
2004
Price N/A
2003
Price N/A
1998
$5.5M
1969
Price N/A
1969
Price N/A
1969
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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