B-2 Office
For Sale
$319,000
118 E Oak Knoll Dr, Hampshire, IL 60140
Established commercial property with parking, Route 72 exposure, and flexible use potential for office and professional services.
Property Size1,450 SF
Price / SF$220
Days on Market48
Property Features for 118 E Oak Knoll Dr
General Information
Standard status
Active
Size
1,450 SF
Zoning
B-2
Building Details
Year Built
1956
Listing Agency:
RE/MAX Deal Makers
Listed By:
Bruce Burklow · License #471018907
(847) 514-3992
Source:
Grandviewrealtyservices
Added: Aug 26
Changed: Sep 13
Last Checked: Oct 7 at 3:46PM
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 RE/MAX Deal Makers
Investment Insights
Based on property information with market context.
This office building at 118 E Oak Knoll Dr was constructed in 1956 and is designated B-2. The property offers 1,450 of stated property size along with on-site parking and a configuration that can support office, medical professional, service, retail, or restaurant uses as identified for the property.
Positioned on Route 72 in Hampshire, the building benefits from a busy commercial roadway and daily traffic. It is next to Chick N Dip and surrounded by residential and commercial development. The Hampshire, IL 60140 location provides a visible setting for an owner-user, investor, or redevelopment project.
Positioned on Route 72 in Hampshire, the building benefits from a busy commercial roadway and daily traffic. It is next to Chick N Dip and surrounded by residential and commercial development. The Hampshire, IL 60140 location provides a visible setting for an owner-user, investor, or redevelopment project.
Key Highlights
- B‑2 zoning supports the property’s stated commercial use profile
- Located on Route 72 in Hampshire, IL
- 1,450 property size
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,148
Cap Rate
6.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,960
$403.0K
Cap Rate 7%
$287,829
$287.8K
Cap Rate 9%
$223,867
$223.9K
Market Conditions
NOI Build-Up for 1,450 SF
Gross rent
$36.5K $25.20/SF
− Vacancy
−$3.0K −$2.04/SF
EGI
$33.6K $23.16/SF
− OpEx
−$13.4K −$9.26/SF
NOI
$20.1K $13.90/SF
Area
Kane County, IL
Vacancy
8.10%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,960
Cap Rate 7%
$287,829
Cap Rate 9%
$223,867
Alternative Uses
Best Use
Healthcare Medical
$287.8K
$251.9K – $335.8K
NOI $20,148 @ 7.0% cap · market cap 6.32%
Second Best
Office B
$285.6K
$249.9K – $333.2K
NOI $19,993 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$500.6K
$438.0K – $584.1K
NOI $35,043 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
145
Businesses Nearby
Explore this area
Business Placement
Demographics for 60140, IL
21,902
Population
7,325
Households
3
Avg Household Size
37
Median Age
38%
College-Educated
93%
High-School Grad
81.0 sq mi
ZIP Area
270
Density / Sq Mi
$114,675
Median Household Income
$58,111
Median Earnings
$1,379
Median Rent
$316,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Established commercial property with parking, Route 72 exposure, and flexible use potential for office and professional services.
Where is this office building located?
The property is located at 118 E Oak Knoll Dr Hampshire, IL.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: B‑2 zoning supports the property’s stated commercial use profile; Located on Route 72 in Hampshire, IL; 1,450 property size
