Northbrook Medical Office
For Sale
Contact for pricing
105 Revere Dr, Northbrook, IL 60062
Turnkey medical office condo in Northbrook ready for immediate use.
Property Size1,899 SF
Price / SF$350.18
Days on Market141
Property Features for 105 Revere Dr
General Information
Standard status
Active
Size
1,899 SF
Class
B
Property subtype
Office
Zoning
I-1
Investment Type
Owner/User
Building Details
Year Built
1986
Year Renovated
2007
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Leading Edge Realty Advisors
(847) 868-5745
Listed By:
Christopher Demas · License #IL 471019127
Source:
Crexi
Added: Mar 24
Changed: Aug 8
Last Checked: Aug 11 at 5:55AM
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 Leading Edge Realty Advisors
Investment Insights
Based on property information with market context.
This 1,899 square foot medical office condo is located in Northbrook and features a built-out layout suitable for immediate occupancy. The space includes an open treatment area with multiple stations, private exam rooms and office, a dedicated X-ray room, a welcoming reception area, and a built-out kitchenette. This property is suited for chiropractic, physical therapy, dental, or general medical practices seeking a turnkey medical office in the Northbrook and Chicago North Shore market.
Key Highlights
- Turnkey medical office condo ready for immediate use.
- Built‑out layout including open treatment area, private exam rooms, and office.
- Dedicated X‑ray room.
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
$26,555
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
3.99%
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%
$531,100
$531.1K
Cap Rate 7%
$379,357
$379.4K
Cap Rate 9%
$295,056
$295.1K
Market Conditions
NOI Build-Up for 1,899 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
$49.4K $26.04/SF
− Vacancy
−$5.2K −$2.73/SF
EGI
$44.3K $23.31/SF
− OpEx
−$17.7K −$9.32/SF
NOI
$26.6K $13.98/SF
Area
Adams County, IL
Vacancy
10.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
40.00%
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%
$531,100
Cap Rate 7%
$379,357
Cap Rate 9%
$295,056
Alternative Uses
Best Use
Healthcare Medical
$379.4K
$331.9K – $442.6K
NOI $26,555 @ 7.0% cap · market cap 3.99%
Second Best
Office B
$215.3K
$188.4K – $251.2K
NOI $15,074 @ 7.0% cap · market cap 2.27%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,548
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60062, IL
42,751
Population
17,892
Households
2.4
Avg Household Size
48
Median Age
71%
College-Educated
96%
High-School Grad
18.9 sq mi
ZIP Area
2,262
Density / Sq Mi
$142,759
Median Household Income
$77,188
Median Earnings
$1,921
Median Rent
$625,800
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?
Medical Office Space - Turnkey medical office condo in Northbrook ready for immediate use.
Where is this medical office space located?
The property is located at 105 Revere Dr Northbrook, IL.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: Turnkey medical office condo ready for immediate use.; Built‑out layout including open treatment area, private exam rooms, and office.; Dedicated X‑ray room.
