450 Skokie BlvdNorthbrook, IL 60062

Property Details for 450 Skokie Blvd

Year built

1986

Lot size

7.88 AC

Property type

Office properties

APN

04-02-400-005-1004

APU

4024000051004

Description

This exceptional single-story office condo in Northbrook, Illinois, offers 5,295 square feet of meticulously finished space, ideally suited for owner-occupancy or investment. Currently divided into two suites (approximately 1,375 and 3,920 square feet), both are available for lease, or the entire property can be purchased. The smaller suite is currently leased on a short-term basis, generating annual rent of $25,369. The larger space is immediately available. Located at 450 Skokie Blvd, this property boasts a prime location in a highly sought-after area, conveniently situated near I-94, abundant shopping and dining options, and the entire North Shore/North Suburban Chicago market. Built in 1975 and extensively renovated in 2014, this property is part of an 11-building office condo development, offering a beautiful, tree-lined setting with a stream and serene outdoor space. The property sits on a 343,253 square foot lot and is zoned C-5. Cook County APN is 04-02-400-005-1019. The surrounding area is affluent, with a 3-mile radius boasting average household incomes exceeding $172,000 annually and average home prices over $630,000. The property's proximity to the new NorthShore 770 development, featuring popular retailers like Mariano's and Chipotle, further enhances its desirability. This is a rare opportunity to acquire a high-quality office space in a thriving Northbrook location.

• CAP approach

  CAP return

  Valuation

  6%

  $103,324,824

  6.5%

  $95,376,760

  7%

  $88,564,136

• Comparable approach

  Method

  Valuation

  Relative Method

  $44,708,704

  Geo Method

  $44,708,704

• Alternative Use

  Use

  Valuation

  Residential

  $118,267,184

  Hospitality

  $108,332,104

  Educational

  $90,131,040

  Medical

  $93,230,784

  Retail

  $140,203,840

Location Insight

City

Northbrook

County

Cook

State

Illinois

Latitude

42.1421

Longitude

-87.7975

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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