Two-Suite Office
For Sale
$598,000
1001 E Chicago Avenue, Naperville, IL 60540
Commercial Sale, Naperville, IL
Property Size3,895 SF
Price / SF$153.53
Days on Market67
Property Features for 1001 E Chicago Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
OFFIC
Directions
Washington E on Chicago 1.2 mile to building on N side of street
Subdivision
Naperville
Standard status
Active
APN
0818427007
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11512
Utilities
Cooling system
Central Air
Building Details
Year built
1995
Floors in Building
2
Number of units
2
Flooring type
Carpet
Building materials
Block, Synthetic Stucco
Listing Agency:
Century 21 Circle · Century 21 Real Estate
(630) 369-2000
Listed By:
Diane Simmons · License #475141472
(844) 884-1500
Added: Jul 2
Changed: Aug 19
Last Checked: Sep 6 at 4:06AM
MLS# 12694098
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office condominium contains approximately 3,895 square feet across two professionally finished suites. The upper-level unit measures approximately 1,895 square feet and is leased, while the approximately 2,000-square-foot ground-level unit is available for lease. Each suite has a separate entrance, with an interior staircase connecting the two levels.
Interior features include private offices, conference rooms, media rooms, restrooms, a full kitchen, and open flex workspace. Neutral finishes, wood-and-glass privacy doors, carpeted floors, and central air support a professional office environment. The upper level includes 10-foot ceilings. Constructed in 1995, the building uses block and synthetic stucco construction and provides on-site parking.
The property is located in Naperville, near downtown Naperville and the 5th Avenue BNSF Metra Station, with access to I-88 in less than five minutes. Zoning is OFFIC.
Interior features include private offices, conference rooms, media rooms, restrooms, a full kitchen, and open flex workspace. Neutral finishes, wood-and-glass privacy doors, carpeted floors, and central air support a professional office environment. The upper level includes 10-foot ceilings. Constructed in 1995, the building uses block and synthetic stucco construction and provides on-site parking.
The property is located in Naperville, near downtown Naperville and the 5th Avenue BNSF Metra Station, with access to I-88 in less than five minutes. Zoning is OFFIC.
Key Highlights
- Approximately 3,895 SF divided between two office condominium suites
- Upper level: approximately 1,895 SF; ground level: approximately 2,000 SF
- Separate suite entrances with an interior staircase connecting both levels
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$53,284
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.91%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,065,680
$1.1M
Cap Rate 7%
$761,200
$761.2K
Cap Rate 9%
$592,044
$592.0K
Market Conditions
NOI Build-Up for 3,895 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$93.5K $24.00/SF
− Vacancy
−$4.7K −$1.20/SF
EGI
$88.8K $22.80/SF
− OpEx
−$35.5K −$9.12/SF
NOI
$53.3K $13.68/SF
Area
Naperville, IL
Vacancy
5.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,065,680
Cap Rate 7%
$761,200
Cap Rate 9%
$592,044
Alternative Uses
Best Use
Healthcare Medical
$761.2K
$666.1K – $888.1K
NOI $53,284 @ 7.0% cap · market cap 8.91%
Second Best
Office B
$657.9K
$575.7K – $767.5K
NOI $46,052 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$879.2K
$769.3K – $1.03M
NOI $61,543 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
268
Businesses Nearby
Explore this area
Business Placement
Demographics for 60540, IL
44,201
Population
16,253
Households
2.7
Avg Household Size
41
Median Age
72%
College-Educated
98%
High-School Grad
13.2 sq mi
ZIP Area
3,349
Density / Sq Mi
$155,866
Median Household Income
$70,026
Median Earnings
$1,982
Median Rent
$504,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Flexible layout includes private offices, conference rooms, and open workspace.
Where is this office units located?
The property is located at 1001 E Chicago Avenue Naperville, IL.
What is the asking price?
The asking price for this property is $598,000.
What are key features of this property?
This property features: Approximately 3,895 SF divided between two office condominium suites; Upper level: approximately 1,895 SF; ground level: approximately 2,000 SF; Separate suite entrances with an interior staircase connecting both levels
