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    20000 Governors Dr Olympia Fields, IL 60461

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    For Lease
    Contact for pricing

    Office and medical spaces in Olympia Fields, ample parking.

    Property size:
    29,339 SF
    Lot size:
    2.46 Acres

    Property Features for 20000 Governors Dr

    General Information

    Size
    29,339 SF
    Lot size
    2.46 Acres

    We can help!

    Listing Contact
    Josh Budny
    Josh Budny
    Source: Moodyscre

    Listing Agency: Network Commercial Real Estate Listing Agent: Josh Budny

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

    Learn more

    Property Insight Report

    Overview

    Olympia Fields Office/Medical Space

    This property is a four-building portfolio offering general office and medical office spaces. It is situated in Governors Office Park, located at the southwest corner of Vollmer Road and Governors Highway in Olympia Fields, Illinois. The buildings feature elevator access and storage spaces. Ample parking is available on-site. The location provides convenient access to public transportation. It is approximately 3 minutes from I-57 highway and 9 minutes from I-294 Tollway. The property encompasses a total of 29,339 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sole 2 Sole, ... Physician Samuel S. Park ... Physician Eveleigh Williams, DPM Physician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Olympia Fields
    County
    Cook
    State
    Illinois
    Longitude
    -87.702781
    Latitude
    41.5261257

    Nearby Similar for Lease

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      Olympia Fields Commercial Space

      Two-story brick building suitable for medical or professional use.
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      Olympia Fields Office Space

      Second floor office space in a professionally maintained building.
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      21,405 SF

      Olympia Fields Office and Medical

      Office and medical spaces in Olympia Fields with ample parking.
      20280 Governors Hwy, Olympia Fields, IL 60461
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      22,890 SF

      Olympia Fields Office Space Available

      Multiple office spaces available in Olympia Fields, Illinois.
      20200 Governors Dr, Olympia Fields, IL 60461
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      1,300 SF

      Retail Building on High-Traffic Corner

      1,300 SF freestanding building on a 17,570 SF lot.
      21100 Lincoln Hwy, Olympia Fields, IL 60461
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    • Contact for pricing
      38,628 SF

      Olympia Fields Office Space Available

      Office space for rent in Olympia Fields, Illinois.
      19900 Governors Dr, Olympia Fields, IL 60461
      View Details
    • $6 SF/Yr
      6,033 SF

      20200 2 &

      Office Units
      20200 2 &, Olympia Fields, IL 60461
      View Details

    FAQs

    What type of property is this?
    Office units - Office and medical spaces in Olympia Fields, ample parking.
    Where is this office units located?
    The property is located at 20000 Governors Dr Olympia Fields, IL.
    What are key features of this property?
    This property features: - Portfolio of 4 buildings with general and medical office spaces.; - Located in Governors Office Park at the corner of Vollmer Road and Governors Highway.; - Ample parking available on the property.
    (708) 873-5540 Call to check price and availability
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    20000 Governors Dr Olympia Fields, IL 60461
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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
    20000 Governors Dr Olympia Fields, IL 60461
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Josh Budny
    Josh Budny
    Real Estate License ID: 471016557
    (708) 873-5540
    Learn more
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