Three-Unit Brick Office
For Sale
$999,000
1041 Bonaventure Drive, Elk Grove Village, IL 60007
Commercial Sale, Elk Grove Village, IL
Property Size5,700 SF
Lot Size0.58 Acres
Price / SF$175.26
Days on Market10
Property Features for 1041 Bonaventure Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
OFFIC
Directions
Nerge Rd to Bonaventure, Right Turn to building on left hand side
Subdivision
Elk Grove Village
Standard status
Active
APN
08314000450000
Lot size
0.58 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
39647
Utilities
Cooling system
Zoned, Central Air
Building Details
Year built
1990
Floors in Building
1
Number of units
3
Building materials
Brick
Listing Agency:
Berkshire Hathaway HomeServices American Heritage · Prudential Real Estate
(847) 364-6030
Listed By:
Rosanna DeFrenza · License #471019679
(847) 806-8336
Added: Sep 15
Changed: Sep 17
Last Checked: Sep 24 at 5:06PM
MLS# 12757397
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 5,700-square-foot brick office building contains three units on a 0.58-acre site. One unit underwent full demolition, while the other two received remodeling work. Improvements include new flooring, paint, plumbing, electrical components, insulation, fire alarm updates, LED lighting and fixtures, plus three remodeled full bathrooms. A full kitchen with new appliances was also installed. The property was built in 1990 and features zoned central air.
Two units are currently rented, and the remaining unit may be leased or occupied by an owner. Site work includes a resurfaced parking lot and new fencing. The property offers access to I-290 and I-390 and carries OFFIC zoning.
Two units are currently rented, and the remaining unit may be leased or occupied by an owner. Site work includes a resurfaced parking lot and new fencing. The property offers access to I-290 and I-390 and carries OFFIC zoning.
Key Highlights
- 5,700‑square‑foot brick office building with 3 units
- 0.58‑acre site with a resurfaced parking lot and new fence
- 2 units are rented; 1 unit is available for lease or owner occupancy
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
$78,594
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
7.87%
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%
$1,571,880
$1.6M
Cap Rate 7%
$1,122,771
$1.1M
Cap Rate 9%
$873,267
$873.3K
Market Conditions
NOI Build-Up for 5,700 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
$139.5K $24.48/SF
− Vacancy
−$34.7K −$6.10/SF
EGI
$104.8K $18.38/SF
− OpEx
−$26.2K −$4.60/SF
NOI
$78.6K $13.79/SF
Area
Cook County, IL
Vacancy
24.90%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
25.00%
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%
$1,571,880
Cap Rate 7%
$1,122,771
Cap Rate 9%
$873,267
Alternative Uses
Best Use
Office B
$1.12M
$982.4K – $1.31M
NOI $78,594 @ 7.0% cap · market cap 7.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.97M
$1.72M – $2.30M
NOI $137,757 @ 7.0% cap · market cap 13.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
963
Businesses Nearby
Explore this area
Business Placement
Demographics for 60007, IL
33,670
Population
13,580
Households
2.5
Avg Household Size
45
Median Age
41%
College-Educated
92%
High-School Grad
18.1 sq mi
ZIP Area
1,860
Density / Sq Mi
$95,240
Median Household Income
$54,762
Median Earnings
$1,574
Median Rent
$334,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Updated office property with two leased units and one available for lease or owner occupancy.
Where is this office building located?
The property is located at 1041 Bonaventure Drive Elk Grove Village, IL.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 5,700‑square‑foot brick office building with 3 units; 0.58‑acre site with a resurfaced parking lot and new fence; 2 units are rented; 1 unit is available for lease or owner occupancy
