1160 Park AveHighland Park, IL 60035

Property Details for 1160 Park Ave

Year built

1965

Construction

BRICK

Lot size

2.21 AC

Property size (Sq ft)

24,124 SF

Property type

Office buildings

APN

16-22-300-008

APU

1622300008

Description

This exceptional single-story medical office building, totaling 22,277 square feet, presents a rare opportunity. Situated less than a mile west of North Shore Highland Park Hospital and conveniently located east of Route 41, this Class B property boasts an enviable location. Built in 1979 and renovated in 2023, the building is impeccably maintained and features a strong tenant roster with an impressive average lease term of 20 years. Multiple suites are available, with a minimum divisible space of 1,650 square feet and a current vacancy of 4,339 square feet. The property sits on 2.2 acres of land and offers private storage for all tenants. This is an ideal investment opportunity for medical professionals seeking a well-established, high-demand location. The surrounding area demonstrates exceptional demographics, with an average household income exceeding $235,000, ensuring a stable and lucrative investment. The building's single-story design and ample parking provide convenient access for both patients and staff. Don't miss this chance to acquire a prime medical office space in a thriving community.

• CAP approach

  CAP return

  Valuation

  6%

  $4,355,874

  6.5%

  $4,020,807

  7%

  $3,733,607

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,449,145

  Geo Method

  $3,142,151

• Alternative Use

  Use

  Valuation

  Residential

  $4,985,801

  Hospitality

  $4,566,967

  Educational

  $3,799,663

  Medical

  $3,930,339

  Retail

  $5,910,586

Location Insight

City

Highland Park

County

Lake

State

Illinois

Latitude

42.1878

Longitude

-87.8186

CBSA code

16980

CBSA name

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

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].