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    501 Oakley Ave Streator, IL 61364

    Sponsored
    For Sale
    $330,000

    COMMERCIAL - Streator, IL

    Property size:
    6,300 SF
    Lot size:
    1.93 Acres
    Days on Market:
    1
    Last Refresh:
    Feb 24 at 8:06 pm

    Property Features for 501 Oakley Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    COMMR
    APN
    3323277000
    Size
    6,300 SF
    Lot size
    1.93 Acres

    Utilities

    Utilities
    Natural Gas Available
    Cooling system
    Central Air

    Building Details

    Year built
    2004
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Vinyl, Carpet
    Building materials
    Brick, Concrete, Steel Siding, Aluminum Siding

    We can help!

    Listing Contact
    David Welter
    David Welter

    RE/MAX Top Properties (815) 942-1133

    Listing agent David Welter (815) 791-1672

    Listing date Feb 24, 2026

    MLS# 12576287

    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

    Turnkey Commercial Building in Streator

    This 6300 square foot commercial building offers a turnkey opportunity in an A+ location. The custom office build-out includes numerous workstations in multiple private offices, a conference room, an employee lounge with a kitchenette, and ample storage. A large reception area and waiting room are present, along with restrooms. The property provides ample parking in the front and private parking in the rear. Originally designed as a doctor's office on one half and a physical therapy office on the other, the open canvas allows for many options. The building features two separate HVAC units and a special electric hook-up for a previous MRI unit. Constructed with a brick and steel exterior, the building sits on a slab. The site is just under 2 acres, with 169 feet of frontage on Oakley Ave. A loading dock and vacant lot in the back offer potential for future expansion. The property is available for lease either as a whole building or divided into two separate units. Previously fully rented, the property is now vacant. The zoning is COMMR.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Skin Care Clinic

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

    Similar Places Nearby

    Countryside Animal Clinic

    Location Insight

    • Map
    • Local Demand
    City
    Streator
    County
    LaSalle
    State
    Illinois
    Longitude
    -88.843143
    Latitude
    41.149928

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    FAQs

    What type of property is this?
    Medical office - 6300 SF commercial building with A+ location in Streator.
    Where is this medical office located?
    The property is located at 501 Oakley Ave Streator, IL.
    What is the asking price?
    The asking price for this property is $330,000.
    What are key features of this property?
    This property features: - A+ Location with **high visibility** (169 ft frontage on Oakley Ave).; - 6300 sq ft building suitable for various business types (former doctor's and physical therapy office).; - **Turnkey custom office build-out** with private offices, conference room, employee lounge, reception area, and ample storage.
    (815) 791-1672
    Request Owner's contact information
    501 Oakley Ave Streator, IL 61364
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    Streator, IL 61364
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    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
    501 Oakley Ave Streator, IL 61364
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    We can help!
    Listing Contact
    David Welter
    David Welter
    Real Estate License ID: 475183240
    (815) 791-1672 (815) 942-1133
    Learn more
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