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1021-1057 Fountain View Dr, Carol Stream, IL 60188
Retail property with a 4.75-year weighted average lease term and multiple named occupants.
Property Size14,755 SF
Price / SF$253.54
Days on Market7
Property Features for 1021-1057 Fountain View Dr
General Information
Standard status
Active
Size
14,755 SF
Property subtype
RETAIL
Financials
Asking Price
$3,741,000
Cap Rate
7.5%
Building Details
Tenancy
Multi
Listing Agency:
Greenstone Partners - Corporate
(312) 614-1498
Listed By:
Brewster Hague
(312) 614-1498
Source:
Moodyscre
Added: Aug 12
Changed: Aug 15
Last Checked: Aug 17 at 11:25AM
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 Greenstone Partners - Corporate
Investment Insights
Based on property information with market context.
The Fountains at Town Center is a 14,755-square-foot shopping center comprising multi-tenant retail space. The offering includes a fee-simple ownership interest and is free and clear of debt. Named occupants include Ten:21 Bar & Grill, Simmies Golf, Prima Nails, and Isabella's.
The property is located at 1021-1057 Fountain View Dr in Carol Stream, Illinois, within DuPage County and the Chicago MSA. Its weighted average lease term is 4.75 years, and the property is reported at a 7.50% cap rate. The surrounding five-mile area includes 253,355 residents, with average household income of $130,495 and median home value of $340,963.
The property is located at 1021-1057 Fountain View Dr in Carol Stream, Illinois, within DuPage County and the Chicago MSA. Its weighted average lease term is 4.75 years, and the property is reported at a 7.50% cap rate. The surrounding five-mile area includes 253,355 residents, with average household income of $130,495 and median home value of $340,963.
Key Highlights
- 14,755‑square‑foot multi‑tenant shopping center
- 7.50% cap rate
- 4.75‑year weighted average lease term
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
$204,802
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
5.47%
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%
$4,096,040
$4.1M
Cap Rate 7%
$2,925,743
$2.9M
Cap Rate 9%
$2,275,578
$2.3M
Market Conditions
NOI Build-Up for 14,755 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
$318.7K $21.60/SF
− Vacancy
−$26.1K −$1.77/SF
EGI
$292.6K $19.83/SF
− OpEx
−$87.8K −$5.95/SF
NOI
$204.8K $13.88/SF
Area
DuPage County, IL
Vacancy
8.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$4,096,040
Cap Rate 7%
$2,925,743
Cap Rate 9%
$2,275,578
Alternative Uses
Best Use
Retail
$2.93M
$2.56M – $3.41M
NOI $204,802 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.09M
$4.46M – $5.94M
NOI $356,596 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
580
Businesses Nearby
43k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 50%
Apparel 42%
Dining 6%
Hotels & Casinos 2%
Zips Car Wash
Shops & Services
21,182 visits/mo
0.5 miles
Savers Thrift Store
Apparel
17,851 visits/mo
0.4 miles
SUBWAY
Dining
2,139 visits/mo
0.4 miles
WoodSpring Suites Carol Stream
Hotels & Casinos
1,031 visits/mo
0.3 miles
Ray's Pizza
Dining
526 visits/mo
0.5 miles
Demographics for 60188, IL
43,053
Population
15,710
Households
2.7
Avg Household Size
39
Median Age
44%
College-Educated
90%
High-School Grad
10.1 sq mi
ZIP Area
4,263
Density / Sq Mi
$107,560
Median Household Income
$47,343
Median Earnings
$1,465
Median Rent
$311,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Retail property with a 4.75-year weighted average lease term and multiple named occupants.
Where is this shopping center located?
The property is located at 1021-1057 Fountain View Dr Carol Stream, IL.
What is the asking price?
The asking price for this property is $3,741,000.
What are key features of this property?
This property features: 14,755‑square‑foot multi‑tenant shopping center; 7.50% cap rate; 4.75‑year weighted average lease term
