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

    47 E Chicago Ave Naperville, IL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Class A retail/office space in a mixed-use building.

    Type:OFFICE
    Property size:
    1,678 SF
    Lot size:
    0.52 Acres
    Added:
    Mar 28, 2023
    Days on Market:
    1121
    Last Refresh:
    Apr 5 at 9:09 pm

    Property Features for 47 E Chicago Ave

    General Information

    Standard status
    Active
    Size
    1,678 SF
    Lot size
    0.52 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 47 E Chicago Ave Contact us

    We can help!

    Listing Contact
    Brent Jacob
    Brent Jacob

    Listing agent Brent Jacob License #475137071

    Listing office Colliers | Chicago Rosemont

    Listing date Mar 28, 2023

    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 Colliers | Chicago Rosemont

    Overview

    Mixed-Use Retail/Office Space Available

    Located at the northeast corner of Washington Street and Chicago Avenue, Washington Corners is a three-story, Class A mixed-use property featuring both retail and office spaces. The building, constructed in 1998, has a total size of 60,052 square feet. The property benefits from a full signalized intersection, situated one block north of the DuPage River and 0.7 miles from the Naperville METRA Station. On-site amenities include a secured entry and retail spaces. Parking is available at a ratio of 4.5 per 1,000 square feet, with a 575-space garage parking structure. The available space is 1,678 square feet. The location is steps from over 125 retail stores, 40 restaurants, and over 100 service businesses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    LLT Group - Digital ... Marketing & Advertising StretchClub Alternative Medicine Practice Miskatonic Brewing Craft ... Bar & Pub ForthRight Wealth Management ... Financial Advisor Chad Henry, CFP®, ... Financial Advisor

    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
    County
    Will
    State
    Illinois
    Longitude
    -88.1475
    Latitude
    41.7719

    Nearby Similar for Lease

    • Contact for pricing

      Naperville Retail/Industrial Flex Space

      Flexible space near Route 59 and 111th St, Naperville.
      24125 111th Street, Naperville, IL 60564
      View Details
    • Contact for pricing

      Naperville Retail/Industrial Flex Space

      Flexible commercial space near Route 59 and 111th St.
      24125 111th Street, Naperville, IL 60564
      View Details
    • Contact for pricing

      Naperville Commercial Sublease Opportunity

      High-image Class A space with updated office and warehouse.
      2012 Corporate Lane, Naperville, IL 60563
      View Details
    • Contact for pricing

      Naperville Commercial Suites Available

      Industrial or retail suites available in Naperville, Illinois.
      24125 111th Street, Naperville, IL 60564
      View Details
    • Contact for pricing

      Downtown Naperville Lower Level Office

      Lower level office space with coffee bar in downtown Naperville.
      25 S Washington Street, Naperville, IL 60540
      View Details
    • Contact for pricing

      Naperville Executive Office Suites Available

      Executive office suites for lease in central Naperville location.
      2272 95th Street, Naperville, IL 60564
      View Details
    • Contact for pricing

      Naperville Office Suites For Rent

      Updated office suites in high-traffic location near Naperville Metra.
      610 N Washington Street, Naperville, IL 60563
      View Details
    • Contact for pricing

      Updated Office Space Near Metra

      Updated office suites in high-traffic location near Naperville Metra Station.
      610 N Washington Street, Naperville, IL 60563
      View Details
    • Contact for pricing

      Updated Office Space Near Downtown

      Recently updated office space with flexible options near downtown.
      849 N Ellsworth Street, Naperville, IL 60563
      View Details
    • Contact for pricing

      Naperville Office Space For Rent

      Updated office suites in high-traffic location near Naperville Metra Station.
      610 N Washington Street, Naperville, IL 60563
      View Details
    • $19/mo

      Professional Office Space Available

      2,500 SF office suite in a convenient Naperville location.
      1879 High Grove Lane, Naperville, IL 60540
      View Details
    • Sponsored
      Contact for pricing

      IL, Naperville - South Washington St

      640 Washington St, Unit 212, Naperville, IL 60540
      View Details

    FAQs

    What type of property is this?
    Office units - Class A retail/office space in a mixed-use building.
    Where is this office units located?
    The property is located at 47 E Chicago Ave Naperville, IL.
    What are key features of this property?
    This property features: Prime location at a signalized intersection near retail, restaurants, and service businesses.; Close proximity (0.7 miles) to the Naperville METRA Station.; Class A mixed‑use retail/office property.
    (847) 698-8444 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Brent Jacob
    Brent Jacob
    Real Estate License ID: 475137071
    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!