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    Property profile & analytics

    9933 Lawler Ave Skokie, IL 60077

    • Office properties & Spaces
    • 120,000 SF
    • 3.05 lot acres
    For Lease
    View listing
    $20 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2651811
    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

    • Quality Dental Castings / Dental Office
    • Jessie Kunnel, DDS - Kunnel Dental Center / Dental Office
    • David Center DDS / Dental Office
    • Chicagoland Endodontics Ltd / Dental Office
    • Dr. Robert A. Bressman, DDS / Dental Office

    Property Details for 9933 Lawler Ave

    Year built
    1978
    Lot size
    3.05 lot acres
    Property size
    120,000 SF
    Property type
    Office properties & Spaces
    Property subtype
    Office Units

    Description

    The Westmoreland Building, a six-story Class B office building totaling 120,000 square feet, offers a diverse range of office spaces suitable for executive, traditional, medical, and creative businesses. Located in Skokie, Illinois, this property boasts a prime location adjacent to Old Orchard Mall, providing unparalleled access to over 170 retailers, restaurants, and community attractions. Its strategic placement at the intersection of I-94 (Edens Expressway) and Old Orchard Road ensures convenient access for employees and clients. Currently, 12,000 square feet of space is available for lease, with individual suites ranging from 45 to 5,837 square feet, accommodating businesses of various sizes. Built in 1978 and extensively renovated in 2016, the building features elevators and ample parking. The property sits on 3.05 acres of land and benefits from excellent public transportation access via multiple CTA and Pace bus routes. Future expansion of the Chicago Transit Authority's Yellow Line is planned nearby, further enhancing accessibility. Skokie's strong population and commercial growth, coupled with its high ranking as a desirable place to live, make this a compelling investment opportunity. This location offers a blend of convenience, amenities, and accessibility, making it an ideal choice for businesses seeking a thriving and well-connected environment.

    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
    Skokie
    County
    Cook
    State
    Illinois
    Longitude
    -87.751
    Latitude
    42.0626

    Comparable in this City

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      5020 Dempster St

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      5020 Dempster St, Skokie, IL 60077
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      16,790 SF

      5301 Dempster St

      Medical Office Space • 16,790 SF
      5301 Dempster St, Skokie, IL 60077
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    • Value Estimation by Request
      15,656 SF

      5250 Old Orchard Rd

      Office Units • 15,656 SF
      5250 Old Orchard Rd, Skokie, IL 60077
      View Details
    • Value Estimation by Request
      1.80 Acres

      4954 Oakton St

      CONDOMINIUM OFFICES • 1.80 Acres
      4954 Oakton St, Skokie, IL 60077-2905
      View Details
    • Value Estimation by Request

      9725 Woods Dr

      CONDOMINIUM OFFICES
      9725 Woods Dr, Skokie, IL 60077-4441
      View Details

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    9933 Lawler Ave
    Skokie, IL 60077
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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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