Historic Multi-Tenant Office
For Sale
$249,000
100 E Knox Street, Morrison, IL 61270
Multi-suite office property with commercial zoning and space suited to professional services or small businesses.
Property Size37,650 SF
Price / SF$132.03
Days on Market139
Property Features for 100 E Knox Street
General Information
Standard status
Active
Size
37,650 SF
Property subtype
Commercial
Zoning
COMMR
Building Details
Building Size
37,650 SF
Year Built
1910
Stories
1
Units
9
Tenancy
Multi
Listing Agency:
Kophamer & Blean Realty
(815) 772-2728
Listed By:
Ken Kophamer
(815) 772-2728
Source:
Cavanaghrealty
Added: Mar 31
Changed: Aug 13
Last Checked: Aug 15 at 1:41PM
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 Kophamer & Blean Realty
Investment Insights
Based on property information with market context.
Built in 1910, this multi-tenant office property provides multiple suites within an established commercial building. The configuration is suited to professional services, small businesses, and investment use, with a practical layout that supports separate office occupancies.
The property is located at 100 E Knox Street in Morrison, Illinois, within Whiteside County’s county seat. Its long-standing presence contributes to the building’s historic character and established community identity. The property measures 1,886 square feet and carries COMMR zoning.
The property is located at 100 E Knox Street in Morrison, Illinois, within Whiteside County’s county seat. Its long-standing presence contributes to the building’s historic character and established community identity. The property measures 1,886 square feet and carries COMMR zoning.
Key Highlights
- 1,886‑square‑foot office property
- Built in 1910
- Multi‑tenant configuration with multiple office suites
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
$12,578
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
5.05%
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%
$251,560
$251.6K
Cap Rate 7%
$179,686
$179.7K
Cap Rate 9%
$139,756
$139.8K
Market Conditions
NOI Build-Up for 1,886 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
$21.5K $11.40/SF
− Vacancy
−$4.7K −$2.51/SF
EGI
$16.8K $8.89/SF
− OpEx
−$4.2K −$2.22/SF
NOI
$12.6K $6.67/SF
Area
Whiteside County, IL
Vacancy
22.00%
Lease Rate
$11.40 /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%
$251,560
Cap Rate 7%
$179,686
Cap Rate 9%
$139,756
Alternative Uses
Best Use
Office B
$179.7K
$157.2K – $209.6K
NOI $12,578 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$352.8K
$308.7K – $411.6K
NOI $24,697 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
396
Businesses Nearby
Explore this area
Business Placement
Demographics for 61270, IL
7,055
Population
2,965
Households
2.4
Avg Household Size
46
Median Age
30%
College-Educated
93%
High-School Grad
151.0 sq mi
ZIP Area
47
Density / Sq Mi
$82,782
Median Household Income
$44,199
Median Earnings
$981
Median Rent
$165,000
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 building - Multi-suite office property with commercial zoning and space suited to professional services or small businesses.
Where is this office building located?
The property is located at 100 E Knox Street Morrison, IL.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 1,886‑square‑foot office property; Built in 1910; Multi‑tenant configuration with multiple office suites
