Palatine Mixed-Use Multi-Tenant
For Sale
$5,395,000
110 N Brockway Street, Palatine, IL 60067
Architecturally distinct mixed-use building in downtown Palatine with Metra access.
Property Size37,890 SF
Price / SF$142.39
Days on Market162
Property Features for 110 N Brockway Street
General Information
Standard status
Active
Size
37,890 SF
Property subtype
Retail
Zoning
B-2
Building Details
Building Size
37,890 SF
Year Built
2005
Listing Agency:
Chicagoland Commercial Real Estate
Listed By:
Randy Olczyk · License #471018001
(847) 338-2022
Source:
Commercialcafe
Added: Mar 27
Changed: Sep 4
Last Checked: Aug 29 at 10:01PM
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 Chicagoland Commercial Real Estate
Investment Insights
Based on property information with market context.
Constructed in 2005, the 37,890 square foot mixed-use building at 110 N. Brockway Street was developed as a permanent fixture within Palatine's downtown environment and as part of the Village's broader effort to establish a walkable, transit-oriented core. The building features brick and steel construction, elevator service, modern life-safety systems, and flexible floorplates. Approximately 75% of the office suites have been refreshed within the past three to five years. The ground floor is anchored by Emmett's Brewing Co., while the upper floors are occupied by professional office tenants that benefit from the property's transit adjacency and downtown setting. The property benefits from city-owned adjacent parking with secured owner parking rights. The building is located approximately 2.5 miles northwest of the proposed Chicago Bears $6 Billion stadium and redevelopment project. The property has a long-term anchor tenant, Emmett’s Brewing Company & Restaurant, operating since 2005 with a lease expiring in December 2034. The property has direct access to the Metra Train. The roof surface area limits unexpected future capital expenses. The property is ideal for 1031 buyers and yield-focused investors. The building is 100% occupied with a 2026 scheduled net income of approximately $403,516.
Key Highlights
- 100% Occupancy with strong tenant retention and stable historical occupancy consistently outperforming the market.
- Anchored by Long Term lease to Emmett's Restaurant & Micro Brew (17,890 SF) lease expire December 2034, providing consistent foot traffic and long‑term visibility.
- Unmatched Downtown Palatine Location with Direct access to Metra Train, establishing a walkable, transit‑oriented core.
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
$163,104
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
3.02%
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%
$3,262,080
$3.3M
Cap Rate 7%
$2,330,057
$2.3M
Cap Rate 9%
$1,812,267
$1.8M
Market Conditions
NOI Build-Up for 37,890 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
$245.5K $6.48/SF
− Vacancy
−$12.5K −$0.33/SF
EGI
$233.0K $6.15/SF
− OpEx
−$69.9K −$1.84/SF
NOI
$163.1K $4.30/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /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%
$3,262,080
Cap Rate 7%
$2,330,057
Cap Rate 9%
$1,812,267
Alternative Uses
Best Use
Mixed Use
$9.13M
$7.99M – $10.66M
NOI $639,394 @ 7.0% cap · market cap 11.85%
Second Best
Office B
$7.46M
$6.53M – $8.71M
NOI $522,441 @ 7.0% cap · market cap 9.68%
Theoretical Best
Office A
$13.08M
$11.45M – $15.26M
NOI $915,718 @ 7.0% cap · market cap 16.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,305
Businesses Nearby
Explore this area
Business Placement
Demographics for 60067, IL
39,324
Population
16,039
Households
2.5
Avg Household Size
43
Median Age
59%
College-Educated
96%
High-School Grad
13.0 sq mi
ZIP Area
3,025
Density / Sq Mi
$121,572
Median Household Income
$64,520
Median Earnings
$1,521
Median Rent
$427,900
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?
Mixed-use property - Architecturally distinct mixed-use building in downtown Palatine with Metra access.
Where is this mixed-use property located?
The property is located at 110 N Brockway Street Palatine, IL.
What is the asking price?
The asking price for this property is $5,395,000.
What are key features of this property?
This property features: 100% Occupancy with strong tenant retention and stable historical occupancy consistently outperforming the market.; Anchored by Long Term lease to Emmett's Restaurant & Micro Brew (17,890 SF) lease expire December 2034, providing consistent foot traffic and long‑term visibility.; Unmatched Downtown Palatine Location with Direct access to Metra Train, establishing a walkable, transit‑oriented core.
