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

    715 Ela Rd Lake Zurich, IL 60047

    • Commercial real estate
    • 0.32 lot acres
    For Lease
    View listing
    $14 SF/Yr
    Value Estimations
    $405,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-0642489
    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

    • Lanier Masonry And Concrete / Concrete Contractor
    • Dr. Nechama Brand / Dentist
    • Village Square Dentistry / Dentist
    • HRB Solutions, Inc. / Health Insurance Agency
    • American Medical Resource / Adult Education School / Emergency Training

    Property Details for 715 Ela Rd

    Lot size
    0.32 lot acres
    Property type
    Commercial real estate
    APN
    14-19-402-107
    APU
    1419402107

    Description

    715 Ela Road, Lake Zurich, IL 60047, presents a fantastic opportunity for businesses seeking office space in a prime Lake County location. This three-story, multi-tenant building offers a total of 14,130 square feet of space, with multiple suites available. Currently, three move-in ready suites are available, ranging from 844 to 1,780 square feet. Additionally, a 1,852-square-foot open space is available for build-to-suit options, providing flexibility for tenants with specific needs. The building features an elevator for convenient access to all three floors. The minimum divisible space is 1,434 square feet, while the maximum contiguous space available is 3,484 square feet. The building comprises six total suites, catering to a variety of business sizes. Located on Ela Road (Rt. 12), this property boasts ample parking, a significant advantage in this market. This attractive and competitively priced office building offers a compelling opportunity for businesses seeking efficient and well-located office space in Lake Zurich. The property is classified as both office and land, making it a versatile option for various business types.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $405,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Zurich
    County
    Lake
    State
    Illinois
    Longitude
    -88.1022
    Latitude
    42.1856
    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
    $42,821
    $43,468
    $510,794
    $554,262
    -
    $130,417
    $1,532,535
    $1,662,952

    Comparable in this City

    • Value Estimation
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      View Details
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      $305,000
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      145 Old Mchenry Rd

      COMMERCIAL (GENERAL) • 0.64 Acres
      145 Old Mchenry Rd, Long Grove, IL 60047-8860
      View Details
    • Value Estimation
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      201 Buesching Rd

      COMMERCIAL (GENERAL) • 8.07 Acres
      201 Buesching Rd, Lake Zurich, IL 60047-2581
      View Details
    • Value Estimation
      $320,000
      0.11 Acres

      71 Old Rand Rd

      COMMERCIAL (GENERAL) • 0.11 Acres
      71 Old Rand Rd, Lake Zurich, IL 60047-2306
      View Details
    • Value Estimation
      $335,000
      0.30 Acres

      900 Il Rte 22900-3

      COMMERCIAL (GENERAL) • 0.30 Acres
      900 Il Rte 22900-3, Lake Zurich, IL 60047-3416
      View Details
    • Value Estimation
      $515,000
      4.89 Acres

      4190 Il Rte 83

      COMMERCIAL (GENERAL) • 4.89 Acres
      4190 Il Rte 83, Long Grove, IL 60047-9563
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      7.33 Acres

      Lake Zurich Commercial Land - 7.33 Acres

      Prime Lake Zurich location, ideal for development.
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    • $750,000

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    Similar Nearby for Lease

    • $14 SF/Yr
      14,130 SF

      Lake Zurich Office Building

      Three-story office building with ample parking.
      715 Ela Rd, Lake Zurich, IL 60047
      View Details
    • $16 SF/Yr
      9,680 SF

      Lake Zurich Retail Space Available

      High-traffic retail space, 1,600 sq ft
      890 Rand Rd, Lake Zurich, IL 60047
      View Details
    • Contact for pricing
      2,500 SF

      Lake Zurich Retail Space Available

      Retail space in a major Lake Zurich retail hub.
      479 Ela Rd, Lake Zurich, IL 60047
      View Details
    • Contact for pricing

      Lake Zurich Office Space Available

      Single office spaces for rent in downtown Lake Zurich.
      83 W Main St, Lake Zurich, IL 60047
      View Details
    • New
      Contact for pricing
      Pending

      Retail Space in Kildeer, IL

      Retail space in a thriving Northern Suburbs market.
      20370 N Rand Rd, Kildeer, IL 60047
      View Details
    • $7 SF/Yr
      85,263 SF

      Lake Zurich Warehouse - 85,263 SF

      Spacious warehouse, ideal for industrial use. Excellent location.
      635 Oakwood Dr, Lake Zurich, IL 60047
      View Details
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    Lake Zurich, IL 60047
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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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