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    Iconic Office Space Available Title is generated by Realmo AI

    1 & 2 Mid America Plaza, Oakbrook Terrace, IL 60181

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    For Lease
    $24 SF/Yr $43,788/Mo (calc)

    Premier suburban business district location with top-tier amenities.

    Type:office.office_building
    Property size:
    21,894 SF
    Added:
    Mar 7, 2026
    Days on Market:
    92
    Last Refresh:
    Mar 7 at 7:02 pm

    Property Features for 1 & 2 Mid America Plaza

    General Information

    Standard status
    Active
    Size
    21,894 SF
    Property subtype
    office.office_building

    Building Details

    Year Built
    1985

    We can help!

    Listing Contact
    Fred Ishler
    Fred Ishler

    Listing agent Fred Ishler

    Listing office Avison Young - US - IL - Chicago

    Listing date Mar 7, 2026

    Source Avisonyoung

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Avison Young - US - IL - Chicago

    HighLights

    • Premier location with exceptional regional access to Chicago and airports.
    • Top‑of‑market amenities include a renovated fitness center and conference facilities.
    • On‑site dining options at Ditka’s Oakbrook and Halsted Street Deli.
    • Iconic landmark with timeless granite architecture.
    • Covered parking, EV charging stations, and bike storage available.
    • Reverse‑commute advantage.

    Overview

    Mid America Plaza offers an urban-caliber headquarters experience in Chicagoland’s premier suburban business district. The property is strategically located at the crossroads of I-88, I-294, Route 83, and 22nd Street, providing exceptional regional access, a reverse-commute advantage, and efficient connectivity to downtown Chicago and both major airports. This iconic and highly visible landmark features timeless granite architecture, dramatic atriums, and exceptional window lines that allow natural light to flood the flexible floorplates. The property supports a modern, high-performance workplace with a strong institutional presence. Top-of-the-market amenities include covered parking, EV charging, bike storage, a renovated fitness center with locker rooms and showers, a golf simulator, conference facilities, Wi-Fi-enabled lounges, and hospitality-driven social spaces. On-site dining options include Ditka’s Oakbrook and Halsted Street Deli, with immediate access to Oakbrook Center’s 150+ retail and dining options. Mid America Plaza is situated in one of suburban Chicago’s most affluent and executive-oriented submarkets and is supported by a highly responsive, service-focused management team. Additional amenities include spec suites, outdoor terraces, a clubhouse with a game room featuring table tennis, foosball, and shuffleboard, underground parking, and on-site property management. The property offers 21,894 square feet of space and is available for lease.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Restaurant Real Estate Agency Building Supply Law Firm Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Dental Office Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Oakbrook Terrace
    County
    DuPage
    State
    Illinois
    Longitude
    -87.9751
    Latitude
    41.8812

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    FAQs

    What type of property is this?
    Office building - Premier suburban business district location with top-tier amenities.
    Where is this office building located?
    The property is located at 1 & 2 Mid America Plaza Oakbrook Terrace, IL.
    What is the lease rate?
    The lease rate is $24 SF/Yr.
    What are key features of this property?
    This property features: Premier location with exceptional regional access to Chicago and airports.; Top‑of‑market amenities include a renovated fitness center and conference facilities.; On‑site dining options at Ditka’s Oakbrook and Halsted Street Deli.
    (312) 796-0368
    We can help!
    Listing Contact
    Fred Ishler
    Fred Ishler
    Learn More
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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.

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