Remodeled Office
For Sale
$320,000
124 E Oak Knoll Drive, Hampshire, IL 60140
Commercial Sale, Hampshire, IL
Property Size1,289 SF
Lot Size0.48 Acres
Price / SF$248.25
Days on Market178
Property Features for 124 E Oak Knoll Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
COMMR
Directions
Oak Knoll Dr. is Route 72. Property is on the North Side of the Street. Two doors from the Chick N Dip Resturant.
Subdivision
Hampshire / Pingree Grove
Standard status
Active
APN
0127151031
Lot size
0.48 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6719
Utilities
Utilities
Water Available
Cooling system
Window Unit(s)
Building Details
Year built
1960
Floors in Building
1
Number of units
1
Flooring type
Vinyl, Wood
Building materials
Aluminum Siding
Listing Agency:
Keller Williams Inspire - Geneva · Keller Williams Realty
(630) 262-9500
Listed By:
Alissa Roy · License #475161511
(630) 377-6200
Added: Mar 31
Changed: Sep 14
Last Checked: Sep 24 at 2:06PM
MLS# 12606670
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 remodeled office building at 124 E Oak Knoll Drive offers a flexible commercial layout with modern finishes, updated flooring, contemporary lighting, and substantial natural light. The main level contains 1,289 square feet, while a full 1,289-square-foot unfinished basement provides additional storage or workspace. An attached two-car garage expands the functional utility of the property. Construction includes aluminum siding, with wood and vinyl flooring and window-unit cooling.
The 0.48-acre site fronts Illinois Route 72 and includes an established curb cut, convenient ingress and egress, and on-site parking. Approximately 12,000 vehicles per day travel along the corridor. Water is available at the property, and the site is positioned in Hampshire within Kane County.
The 0.48-acre site fronts Illinois Route 72 and includes an established curb cut, convenient ingress and egress, and on-site parking. Approximately 12,000 vehicles per day travel along the corridor. Water is available at the property, and the site is positioned in Hampshire within Kane County.
Key Highlights
- 1,289‑square‑foot main level plus a full 1,289‑square‑foot unfinished basement
- 0.48‑acre site with Illinois Route 72 frontage
- Approximately 12,000 vehicles per day of traffic exposure
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
$17,773
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
5.55%
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%
$355,460
$355.5K
Cap Rate 7%
$253,900
$253.9K
Cap Rate 9%
$197,478
$197.5K
Market Conditions
NOI Build-Up for 1,289 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
$31.6K $24.48/SF
− Vacancy
−$7.9K −$6.10/SF
EGI
$23.7K $18.38/SF
− OpEx
−$5.9K −$4.60/SF
NOI
$17.8K $13.79/SF
Area
Kane 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%
$355,460
Cap Rate 7%
$253,900
Cap Rate 9%
$197,478
Alternative Uses
Best Use
Office B
$253.9K
$222.2K – $296.2K
NOI $17,773 @ 7.0% cap · market cap 5.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$445.0K
$389.4K – $519.2K
NOI $31,152 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
Explore this area
Business Placement
Demographics for 60140, IL
21,902
Population
7,325
Households
3
Avg Household Size
37
Median Age
38%
College-Educated
93%
High-School Grad
81.0 sq mi
ZIP Area
270
Density / Sq Mi
$114,675
Median Household Income
$58,111
Median Earnings
$1,379
Median Rent
$316,900
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 commercial property with a flexible interior, Route 72 frontage, on-site parking, and an attached garage.
Where is this office building located?
The property is located at 124 E Oak Knoll Drive Hampshire, IL.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 1,289‑square‑foot main level plus a full 1,289‑square‑foot unfinished basement; 0.48‑acre site with Illinois Route 72 frontage; Approximately 12,000 vehicles per day of traffic exposure
