600 Laurel AveHighland Park, IL 60035

Property Details for 600 Laurel Ave

Year built

1950

Construction

BRICK

Lot size

0.17 AC

Property size (Sq ft)

13,568 SF

Property type

Office buildings

APN

16-23-321-002

APU

1623321002

Description

This exceptional 2,500-square-foot office space, situated within a 14,000-square-foot mixed-use building at 600 Laurel Ave, Highland Park, IL 60035, presents a unique leasing opportunity. Located in the heart of Highland Park's vibrant commercial pedestrian core, this property benefits from its central location and proximity to a wealth of amenities. The building, constructed in 1960 and extensively renovated in 2017, offers a blend of modern updates and classic charm. The space itself boasts two bathrooms, two kitchens, a flexible layout encompassing both private offices and open work areas, and the potential for division into two 1,250-square-foot units. The B-5 Central Business District zoning allows for a variety of uses. This two-story building is ideally situated within a thriving retail environment, with nearby establishments including DeNuccis Restaurant, Bluemercury, Target, Eileen Fisher, NIC + ZOE, Orangetheory Fitness, Lou Malnati's Pizzeria, Anthropologie, and Sunset Foods, along with numerous boutiques, restaurants, and entertainment venues. Highland Park, an affluent North Shore suburb approximately 25 miles north of Chicago, offers a high-density population and excellent demographics. This is a rare opportunity to secure a well-appointed office space in a highly desirable location. The building is currently single-tenant occupied, with 2,500 square feet available for lease.

• CAP approach

  CAP return

  Valuation

  6%

  $2,449,864

  6.5%

  $2,261,412

  7%

  $2,099,883

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,377,466

  Geo Method

  $1,767,232

• Alternative Use

  Use

  Valuation

  Residential

  $2,804,152

  Hospitality

  $2,568,588

  Educational

  $2,137,035

  Medical

  $2,210,531

  Retail

  $3,324,276

Location Insight

City

Highland Park

County

Lake

State

Illinois

Latitude

42.1839

Longitude

-87.7995

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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