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    43 E Jefferson Ave Naperville, IL 60540

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    Sponsored
    Source: https://svn.com
    For Sale
    $4,400,000

    The Jefferson Hill building is a mixed use restaurant, retail and office For Sale

    Property size:
    16,954 SF

    Property Features for 43 E Jefferson Ave

    General Information

    Property type
    Other mixed-use properties
    Square Feet
    16,954 SF
    Price / Square Foot
    $259
    Elevators
    N/A

    Building Details

    Year Built
    1845
    Buildings
    1
    Stories
    3

    Overview

    Mixed-Use Building in Downtown Naperville

    The Jefferson Hill building is a mixed-use property featuring restaurant, retail, and office spaces. This value-add investment offers immediate cash-flow with an actual NOI of $227,000 at 58% occupancy. There is immediate upside potential through the lease-up of over 6,500 square feet of retail and office space on the first and second floors. If fully occupied, the pro-forma NOI would exceed $440,000. The flexible B4 zoning allows for a variety of uses, and the location in Naperville’s parking district allows for development of the parking lot and expansion of the building to approximately 30,000 square feet. Onsite parking is available, and a public parking deck is located immediately across Jefferson Avenue. The property is located one block east of Washington Street on Jefferson Avenue in Downtown Naperville. Immediate area retail tenants include Athleta, Ramsay's Kitchen, Noodles and Co, Nando's Peri Peri, Gia Mia, ModPizza, Ulta Beauty, and Catch 35. Jefferson Hill is adjacent to North Central College, Naperville Community Concert Center, and Wentz Concert Hall. The original historic 1845 circa building was the home of Francis Kendall, Naperville's mayor from 1913 to 1917. The property size is 16,954 square feet. 2023 Taxes are $58,098.

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    Listing Contact
    Joel Miller, Ccim

    Learn more

    Property Insight Report

    HighLights

    • Value‑Add Mixed Use Building in Downtown Naperville 58% Occupancy - Strong Immediate Upside Future Opportunity to Expand or Redevelop the Building Onsite Parking + Public Parking Deck Immediately Across Jefferson Adjacent to North Central College Campus
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Jaels Luxury Hair ... Hair Salon Young Naperville Singers Association / Organization AMS Wellness Counselor Carolyn J. Atkinson, ... Physician Jefferson Hill Building Real Estate Agency

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Naperville
    State
    Illinois
    Longitude
    -109.638757
    Latitude
    47.3752671

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    FAQs

    What type of property is this?
    Mixed-use property - The Jefferson Hill building is a mixed use restaurant, retail and office For Sale
    Where is this mixed-use property located?
    The property is located at 43 E Jefferson Ave Naperville, IL.
    What is the asking price?
    The asking price for this property is $4,400,000.
    What are key features of this property?
    This property features: Value-Add Mixed Use Building in Downtown Naperville 58% Occupancy - Strong Immediate Upside Future Opportunity to Expand or Redevelop the Building Onsite Parking + Public Parking Deck Immediately Across Jefferson Adjacent to North Central College Campus
    (630) 270-6949
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    43 E Jefferson Ave Naperville, IL 60540
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    43 E Jefferson Ave Naperville, IL 60540
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    We can help!
    Listing Contact
    Joel Miller, Ccim
    (630) 270-6949
    Learn more
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