Updated Office Unit with Private
For Sale
$549,500
1 S280 Summit Avenue A, Oakbrook Terrace, IL 60181
Multi-level office configuration includes private entrances, meeting space, storage, and kitchen facilities.
Property Size3,600 SF
Price / SF$152.64
Days on Market13
Property Features for 1 S280 Summit Avenue A
General Information
Standard status
Active
Size
3,600 SF
Additional Details
Highway Access
Yes
Office Units
8
Amenities
private entrances
24/7 access
Building Details
Year Built
1985
Tenancy
Multi
Listing Agency:
Realty Partners
(708) 743-1552
Listed By:
Joseph Giannini · License #475191091
Source:
Amyboston.realtopiare
Added: Aug 19
Changed: Aug 27
Last Checked: Aug 30 at 7:28PM
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 Realty Partners
Investment Insights
Based on property information with market context.
This 3,600-square-foot office unit offers a multi-level layout suited to professional operations. The main floor includes four offices, a conference room, glass-panel doors, new carpeting, a remodeled bathroom, and fresh paint. The lower level adds three offices, open work area, storage, a kitchen, and men’s and women’s multi-stall restrooms.
Private entrances and 24/7 access support flexible occupancy and daily operations. The property is located near I-88, IL-83, and I-294, with access to Oakbrook Center Mall, hotels, dining, corporate offices, medical practices, and regional headquarters. The building was constructed in 1985 and contains eight total units.
Private entrances and 24/7 access support flexible occupancy and daily operations. The property is located near I-88, IL-83, and I-294, with access to Oakbrook Center Mall, hotels, dining, corporate offices, medical practices, and regional headquarters. The building was constructed in 1985 and contains eight total units.
Key Highlights
- 3,600 SF office unit with multi‑level configuration
- Main floor includes four offices and a conference room
- Lower level provides three additional offices, open space, storage, and a kitchen
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
$49,638
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
9.03%
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%
$992,760
$992.8K
Cap Rate 7%
$709,114
$709.1K
Cap Rate 9%
$551,533
$551.5K
Market Conditions
NOI Build-Up for 3,600 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
$88.1K $24.48/SF
− Vacancy
−$21.9K −$6.10/SF
EGI
$66.2K $18.38/SF
− OpEx
−$16.5K −$4.60/SF
NOI
$49.6K $13.79/SF
Area
DuPage County, IL
Vacancy
24.90%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
25.00%
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%
$992,760
Cap Rate 7%
$709,114
Cap Rate 9%
$551,533
Alternative Uses
Best Use
Office B
$709.1K
$620.5K – $827.3K
NOI $49,638 @ 7.0% cap · market cap 9.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $87,004 @ 7.0% cap · market cap 15.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,303
Businesses Nearby
Explore this area
Business Placement
Demographics for 60181, IL
29,821
Population
12,485
Households
2.4
Avg Household Size
38
Median Age
38%
College-Educated
92%
High-School Grad
6.5 sq mi
ZIP Area
4,588
Density / Sq Mi
$90,375
Median Household Income
$47,191
Median Earnings
$1,619
Median Rent
$294,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Multi-level office configuration includes private entrances, meeting space, storage, and kitchen facilities.
Where is this office units located?
The property is located at 1 S280 Summit Avenue A Oakbrook Terrace, IL.
What is the asking price?
The asking price for this property is $549,500.
What are key features of this property?
This property features: 3,600 SF office unit with multi‑level configuration; Main floor includes four offices and a conference room; Lower level provides three additional offices, open space, storage, and a kitchen
