Building Details

Year built 1974

Floors in Building 2

Number of units 1

Flooring type Concrete

Building materials Steel Siding

Roof type Metal

Listing Agency: Thornton Properties of Chicago INC K***@ThorntonProperties.net Show Phone

Listed By: Kevin Thornton Show Phone

Added: Feb 24 Changed: Aug 4 Last Checked: Aug 12 at 8:06PM

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MLS# 12576027

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 freestanding steel flex facility at 50W485 IL Route 64 in Maple Park contains 10K SF across multiple functional areas. The building includes 850 SF of separate offices, an additional 850 SF of mezzanine offices, and a 7,500 SF shop with concrete flooring. A 14-foot by 14-foot overhead door and 1,600-amp, three-phase power support industrial operations. The current use is a national cabinet maker.

The 3.58-acre property is set back from Route 64 and includes parking for staff and visitors. It is near Routes 47, 90, and 88. The building was constructed in 1974 and has metal roofing, steel siding, a well water source, and a septic tank system.

Key Highlights

• 3.58 ac. lot with a 10K SF commercial building
• 7,500 SF shop plus 850 SF of separate offices and 850 SF of mezzanine offices
• 1‑14' x 14' overhead door

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

$66,088

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

7.43%

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%

$1,321,760 $1.3M

Cap Rate 7%

$944,114 $944.1K

Cap Rate 9%

$734,311 $734.3K

Market Conditions

NOI Build-Up for 10,000 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

$106.8K $10.68/SF

− Vacancy

−$5.1K −$0.51/SF

EGI

$101.7K $10.17/SF

− OpEx

−$35.6K −$3.56/SF

NOI

$66.1K $6.61/SF

Area

Kane County, IL

Vacancy

4.80%

Lease Rate

$10.68 /SF/Yr

Expense Ratio

35.00%

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%

$1,321,760

Cap Rate 7%

$944,114

Cap Rate 9%

$734,311

Alternative Uses

Best Use

Office B

$1.97M

$1.72M – $2.30M (±1% cap)

NOI $137,884 @ 7.0% cap · market cap 15.49%

Second Best

Flex RnD

$944.1K

$826.1K – $1.10M (±1% cap)

NOI $66,088 @ 7.0% cap · market cap 7.43%

Theoretical Best

Office A

$3.45M

$3.02M – $4.03M (±1% cap)

NOI $241,678 @ 7.0% cap · market cap 27.15%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Suggested Use

Top Pick Building Supply Auto Parts Store Storage Facility Kitchen & Bath Showroom Computer & Electronic Repair Tech Support Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Heavy power

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

19

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 60151, IL

3,997

Population

1,648

Households

2.4

Avg Household Size

44

Median Age

33%

College-Educated

96%

High-School Grad

82.5 sq mi

ZIP Area

48

Density / Sq Mi

$121,667

Median Household Income

$54,946

Median Earnings

$1,649

Median Rent

$334,200

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Steel commercial facility with office, mezzanine, shop, parking, and heavy three-phase electrical service.

Where is this flex space located?

The property is located at 50W485 Il Route 64 Maple Park, IL.

What is the asking price?

The asking price for this property is $890,000.

What are key features of this property?

This property features: 3.58 ac. lot with a 10K SF commercial building; 7,500 SF shop plus 850 SF of separate offices and 850 SF of mezzanine offices; 1‑14' x 14' overhead door