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

    220-248 Hawthorn Dr Itasca, IL

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $12 SF/Yr

    Office space for rent with ample parking and great location.

    Type:OFFICE
    Property size:
    7,898 SF
    Lot size:
    19.14 Acres
    Added:
    Dec 5, 2024
    Days on Market:
    482
    Last Refresh:
    Mar 29 at 10:08 pm

    Property Features for 220-248 Hawthorn Dr

    General Information

    Standard status
    Active
    Size
    7,898 SF
    Lot size
    19.14 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 220-248 Hawthorn Dr Contact us

    We can help!

    Listing Contact
    Jason Wurtz
    Jason Wurtz

    Listing agent Jason Wurtz

    Listing office NAI Hiffman | Oakbrook Terrace

    Listing date Dec 5, 2024

    Source Moodyscre

    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 NAI Hiffman | Oakbrook Terrace

    Overview

    Office Space in Itasca, IL

    This office space offers tremendous window lines and a dramatically landscaped campus environment. The HVAC is individually controlled, and ample parking is available. The property features direct suite access, and corporate signage is available. An on-site engineer manages the property. It is conveniently located near Elgin O'Hare, I-290 & I-355, with quick access to O'Hare International Airport. Direct Pace Bus access is available via Route 616. The property is also in close proximity to hotels, restaurants and shopping. The available space is 7898 square feet.
    Location Intelligence

    Current Use by Public Records

    Office Units

    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
    Itasca
    County
    DuPage
    State
    Illinois
    Longitude
    -88.0288
    Latitude
    41.9669

    Nearby Similar for Lease

    • $24/mo

      Furnished Office Space Available

      Modern, fully furnished office space near I-290 and I-390.
      650 E. Devon Avenue, Itasca, IL 60143
      View Details
    • $26/mo

      Class A Office Space Available

      Five-story Class A office building with on-site amenities.
      300 Park Blvd, Itasca, IL
      View Details
    • $25/mo

      Office Space with Hotel Access

      Office space with parking, security, and hotel connectivity.
      500 Park Blvd, Itasca, IL
      View Details
    • Contact for pricing

      Industrial Building in Itasca

      24,257 SF building with docks and ample parking.
      700 Hilltop Dr, Itasca, IL 60143
      View Details
    • Contact for pricing

      Industrial Building in Itasca, Illinois

      Freestanding industrial building in established park, near major transportation routes.
      1035 N. Hilltop Dr., Itasca, IL 60143
      View Details
    • $7/mo

      Itasca Warehouse Space Available

      125,955 square foot warehouse space for lease.
      1131 Bryn Mawr Avenue, Itasca, IL 60143
      View Details
    • Contact for pricing

      Itasca Commercial Property for Rent

      Commercial property available for rent in Itasca, Illinois.
      1055 W. Devon Ave., Itasca, IL 60143
      View Details
    • Contact for pricing

      New Retail Space Near Metra

      New construction retail space near Lisle Metra Station.
      125 W Orchard St, Itasca, IL
      View Details
    • $7/mo

      Itasca Warehouse Space Available

      62,761 SF warehouse space with easy highway access.
      1151 W Bryn Mawr Ave, Itasca, IL
      View Details
    • Contact for pricing

      Itasca Office Space Available

      Office building in Itasca with excellent expressway access.
      900 N Arlington Heights Rd, Itasca, IL
      View Details
    • $12/mo

      Itasca Office Space for Rent

      Office space in Itasca with ample parking and great access.
      945-975 Spring Lake Dr, Itasca, IL
      View Details
    • Contact for pricing

      Industrial Building in Itasca

      24,257 SF building with flexible lease terms available.
      700 Hilltop Dr, Itasca, IL 60143
      View Details

    FAQs

    What type of property is this?
    Office units - Office space for rent with ample parking and great location.
    Where is this office units located?
    The property is located at 220-248 Hawthorn Dr Itasca, IL.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Quick access to O'Hare International Airport; Conveniently located near Elgin O'Hare, I‑290 & I‑355; Ample parking
    (630) 932-1234
    We can help!
    Listing Contact
    Jason Wurtz
    Jason Wurtz
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!