Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    209 Grove St Dekalb, IL 60115

    Sponsored
    For Lease
    Contact for pricing

    COMMERCIAL - DeKalb, IL

    Type:Office
    Days on Market:
    46
    Last Refresh:
    Jan 22 at 3:06 am

    Property Features for 209 Grove St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Standard status
    Active
    Zoning
    COMMR

    Building Details

    Year built
    1920
    Floors in Building
    1
    Building materials
    Brick

    We can help!

    Listing Contact
    Carrie Ottum

    Spirit Realty DBA Signature Real Estate Professionals (815) 739-1275 [email protected]

    Listing agent Carrie Ottum (815) 739-1275

    Listing date Dec 8, 2025

    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.

    Learn more

    Property Insight Report

    Overview

    Updated Commercial Building Near Downtown

    This recently updated commercial building is available for rent, situated one block south of downtown DeKalb. Its location is near a church, restaurants, and a car dealership, which contribute to traffic and potential clientele in the area. The building is suitable for a professional office or retail space. It features a little over 1100 square feet of space, including two rooms, a utility room, and a bathroom. The building is ADA compatible, and the owner is willing to assist with signage and painting if desired. Existing furniture and wall hangings can remain if the tenant prefers. The layout includes one large room with storefront windows and another room suitable for an office or lounge. It has a private entrance. The tenant is responsible for all utilities. The building is close to multiple city parking areas, with a few spots available in front of the building. The unit is located on the south side of DeKalb.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Whizzer Fun Inc Atv Dealer

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Dekalb
    County
    DeKalb
    State
    Illinois
    Longitude
    -88.752588
    Latitude
    41.929301

    Nearby Similar for Lease

    • Contact for pricing

      DeKalb Retail/Bar Space Available

      Prime DeKalb location suitable for bar, retail, or entertainment.
      156 E Lincoln Hwy, Dekalb, IL 60115
      View Details
    • Contact for pricing
      9,290 SF

      Retail Space Near Northern Illinois University

      Retail space anchored by Target with high visibility and foot traffic.
      2341-2371 Sycamore Rd, Dekalb, IL 60115
      View Details
    • $8 SF/Yr
      21,650 SF

      DeKalb Office Space for Lease

      Prime DeKalb location, flexible lease terms.
      2350 Sycamore Rd, DeKalb, IL 60115
      View Details
    • Contact for pricing
      281,977 SF

      DeKalb Industrial Space For Lease

      Large industrial space, multiple tenants possible.
      1900 Pleasant St, DeKalb, IL 60115
      View Details
    • Contact for pricing
      27,756 SF

      DeKalb Market Square Retail Space

      High-traffic storefront, 13,505 SF available.
      2058-2068 Sycamore Rd, DeKalb, IL 60115
      View Details
    • Contact for pricing
      96,283 SF

      DeKalb Retail Center Investment

      Prime DeKalb retail space available.
      1680-1730 Sycamore Rd, DeKalb, IL 60115
      View Details
    • $16 SF/Yr
      7,735 SF

      Downtown DeKalb Retail Space

      Class A retail/office suites, 1820-5655 sq ft.
      228 4Th St, DeKalb, IL 60115
      View Details
    • $9 SF/Yr
      2,519 SF

      DeKalb Office Space: Two Units Available

      Prime DeKalb location, furnished office, flexible lease terms.
      126 4Th St, DeKalb, IL 60115
      View Details
    • Contact for pricing
      9,797 SF

      DeKalb Retail Center - Lincoln Hwy

      High-traffic retail space, 3 units available
      1015 Lincoln Hwy, DeKalb, IL 60115
      View Details
    • $20 SF/Yr
      1,296 SF

      Prime DeKalb Retail/Office Space

      High-traffic location, 1296 sq ft, Class A
      452 Lincoln Hwy, DeKalb, IL 60115
      View Details
    • $6 SF/Yr
      15,453 SF

      DeKalb Retail Space - Prime Location

      Multiple suites available, high traffic area.
      901 Lucinda Ave, DeKalb, IL 60115
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Schnucks Anchored Center

      Retail space available in DeKalb, IL, near Interstate 88.
      901-975 S Annie Glidden Rd, Dekalb, IL 60115
      View Details

    FAQs

    What type of property is this?
    Office space - Updated commercial building near downtown DeKalb, suitable for office or retail.
    Where is this office space located?
    The property is located at 209 Grove St Dekalb, IL.
    What are key features of this property?
    This property features: - Recently updated commercial building in a high-traffic location near downtown DeKalb.; - Approximately 1100 square feet of flexible space suitable for office or retail.; - ADA compatible with owner assistance for signage and painting.
    (815) 739-1275
    Request Owner's contact information
    209 Grove St Dekalb, IL 60115
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    209 Grove St
    Dekalb, IL 60115
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    209 Grove St Dekalb, IL 60115
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Carrie Ottum
    Real Estate License ID: 471001655
    (815) 739-1275
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.