Add Listing
    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

    311 N LOCUST Street unit 1 Aurora, IL 60506

    View on Map
    New
    For Lease
    Contact for pricing

    COMMERCIAL - Aurora, IL

    Type:Retail
    Property size:
    1,200 SF
    Added:
    Mar 25, 2026
    Days on Market:
    7
    Last Refresh:
    Mar 31 at 11:06 pm

    Property Features for 311 N LOCUST Street unit 1

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Zoning
    COMMR
    Standard status
    Active
    Size
    1,200 SF

    Taxes and HOA fees

    TaxYear
    2024
    TaxAnnualAmount
    6820

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1904
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Carpet, Parquet Wood
    Building materials
    Wood, Cedar

    We can help!

    Listing Contact
    Erik Barragan
    Erik Barragan

    Listing agent Erik Barragan

    Listing office Compass REO Incorporated 311 N Locust St, Suite #2, AURORA, IL

    Listing date Mar 25, 2026

    MLS# 12601068

    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.

    Overview

    Aurora Retail/Office Space Available

    This commercial space, suitable for retail or office use, is currently available. The property is located blocks from downtown Aurora on a busy street, offering great visibility. The available space encompasses 1200 square feet on the first floor. It features a reception area, a bathroom, front and side entrances, and a storage room. Lease terms and rent are negotiable.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Compass REO Inc. ... Real Estate Agency Marisa Barragan Real Estate Agency

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Aurora
    County
    Kane
    State
    Illinois
    Longitude
    -88.3205416
    Latitude
    41.7642092

    Nearby Similar for Lease

    • Contact for pricing

      Downtown Aurora Commercial Space

      Renovated 2,000 sq ft retail/office space in downtown Aurora.
      26 N BROADWAY, Aurora, IL 60505
      View Details
    • Contact for pricing

      Aurora Commercial Space Available

      Commercial space for rent in Aurora, Illinois.
      2 Hankes Road unit: B, Aurora, IL 60506
      View Details
    • Contact for pricing

      Aurora Retail/Office Space Available

      Vacant storefront suitable for retail, daycare, office, or studio.
      1054 S 5th Street unit: 1, Aurora, IL 60505
      View Details
    • $14/mo

      Prime Retail Space in Aurora

      Versatile retail space in downtown Aurora with river views.
      160 S River Street 112, Aurora, IL 60506
      View Details
    • Contact for pricing

      Former Daycare Space in Aurora

      1,500 SF daycare space with fenced outdoor play area.
      3691 DARLENE Court unit: 102, Aurora, IL 60504
      View Details
    • $2,400,000/mo

      Aurora, IL Investment Property

      Dual-tenant property with long-term leases in Aurora, Illinois.
      1313 N Lake St, Aurora, IL 60506
      View Details
    • Contact for pricing

      Aurora Retail Space Near University

      1,400 SF retail space near Aurora University.
      1118 Prairie Street unit: C, Aurora, IL 60506
      View Details
    • Contact for pricing

      Aurora Multi-Tenant Facility For Lease

      58,236 SF multi-tenant facility with flexible spaces and ample parking.
      657 Wolverine Dr, Aurora, IL 60502
      View Details
    • $14/mo

      Renovated Office Space Near Metra

      Office space with lake view, fully furnished and renovated in 2022.
      Aurora, IL 60504
      View Details
    • $21/mo

      Aurora Office Space Available

      Office space for rent featuring reception and office areas.
      75 Executive Dr, Aurora, IL
      View Details
    • $21/mo

      Accessible Office Space For Rent

      Office space for rent with utilities included.
      2 Hankes Road #B, Aurora, IL 60506
      View Details
    • Contact for pricing

      Aurora Industrial Facility For Lease

      18,528 SF single-tenant industrial facility in Meridian Business Park.
      510 Exchange Court, Aurora, IL 60504
      View Details

    FAQs

    What type of property is this?
    Retail space - First floor retail/office space near downtown Aurora.
    Where is this retail space located?
    The property is located at 311 N LOCUST Street unit 1 Aurora, IL.
    What are key features of this property?
    This property features: High‑visibility location on a busy street, blocks from downtown Aurora.; Large 1200 sq ft retail/office space.; Rent is negotiable depending on lease terms.
    (630) 202-3342
    We can help!
    Listing Contact
    Erik Barragan
    Erik Barragan
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!