Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1600 16Th St Oak Brook, IL 60523

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available in a high-traffic suburban market.

    We can help!

    Listing Contact
    Sean Mccourt
    Sean Mccourt
    Source: Cbre

    Listing Agency: CBRE | Chicago Listing Agent: Sean Mccourt

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Retail Space Near Oakbrook Center

    This retail space is positioned across the street from Oakbrook Center. The location benefits from high visibility with 60,000 vehicles per day on Route 83. Full signalized access is available, along with Route 83 pylon signage. A façade renovation has been completed. The property offers 1,560 square feet of space in Oak Brook, Illinois.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ayara Threading {The Art ... Hair Salon Nathan Sels, DPT Physician Alexander Soto, United ... Real Estate Agency Blackberry Market Restaurant Michelle Lewan Physician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Oak Brook
    County
    DuPage
    State
    Illinois
    Longitude
    -87.9589653
    Latitude
    41.8546114

    Nearby Similar for Lease

    • Contact for pricing

      Countryside Office Suites For Rent

      Office suites available for rent with included amenities.
      6502 Joliet Rd, Countryside, IL 60525
      View Details
    • New
      Contact for pricing

      IL, Oak Brook - Oak Brook Pointe

      Discover many ways to work your way in IL, Oak Brook - Oak Brook Pointe
      700 Commerce Dr Oak Brk, Oak Brook, IL 60523
      View Details
    • Sponsored
      New
      Contact for pricing

      Regency Towers

      Discover many ways to work your way in Regency Towers
      1415 22 St Tower Fl Oak Brk, Oak Brook, IL 60523
      View Details
    • $22 SF/Yr
      35,000 SF

      Oak Brook Office Technology Campus

      Office space for rent in the heart of Oak Brook.
      810 Jorie Blvd, Oak Brook, IL 60523
      View Details
    • $22 SF/Yr
      46,875 SF

      Oak Brook Office Technology Campus

      Office space in the heart of Oak Brook.
      800 Jorie Blvd, Oak Brook, IL 60523
      View Details
    • $25 SF/Yr

      Renovated Office Space in Oak Brook

      2,154 SF office condo near Oak Brook Center.
      600 Enterprise Dr, Oak Brook, IL 60523
      View Details
    • $17 SF/Yr

      Modernist Office Building in Oak Brook

      Unique office building with prominent signage and flexible floorplan.
      2200-2222 Kensington Ct, Oak Brook, IL 60523
      View Details
    • $24 SF/Yr
      24,972 SF

      Premier Office and Retail Space

      Office and retail space with many amenities and convenient location.
      1301 22Nd St, Oak Brook, IL 60523
      View Details
    • $19 SF/Yr
      31,457 SF

      Premier Office and Retail Space

      Office and retail space with many amenities and convenient location.
      1315 West 22Nd St, Oak Brook, IL 60523
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space available in a high-traffic suburban market.
    Where is this retail space located?
    The property is located at 1600 16Th St Oak Brook, IL.
    What are key features of this property?
    This property features: - Fantastic positioning across the street from Oakbrook Center, one of the nation’s top producing retail assets.; - Excellent visibility to huge 60,000 VPD on Route 83.; - Space available in Chicagoland’s best suburban retail market.
    (312) 297-7688
    Request Owner's contact information
    1600 16Th St Oak Brook, IL 60523
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1600 16Th St
    Oak Brook, IL 60523
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1600 16Th St Oak Brook, IL 60523
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Sean Mccourt
    Sean Mccourt
    (312) 297-7688 (312) 935-1400
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!