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

    321 Rice Lake Sq Wheaton, IL

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

    Prime retail space in revitalized Wheaton shopping center.

    Type:RETAIL
    Property size:
    6,660 SF
    Lot size:
    27.68 Acres
    Added:
    Feb 7, 2023
    Days on Market:
    1149
    Last Refresh:
    Mar 29 at 9:12 pm

    Property Features for 321 Rice Lake Sq

    General Information

    Standard status
    Active
    Size
    6,660 SF
    Lot size
    27.68 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 321 Rice Lake Sq Contact us

    We can help!

    Listing Contact
    Marget Graham
    Marget Graham

    Listing agent Marget Graham

    Listing office Mid-America Real Estate Group | Oakbrook Terrace

    Listing date Feb 7, 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 Mid-America Real Estate Group | Oakbrook Terrace

    Overview

    Retail Endcap in Rice Lake

    A 1,950 square foot endcap retail space is available in Rice Lake Square, located just east of the intersection of Butterfield and Naperville Roads in Wheaton, Illinois. The shopping center has recently completed an extensive revitalization project, offering opportunities for national and regional retailers. Enhancements to the property include tower lanterns at key locations, roof up lighting, architectural elements at select anchor locations, improved arcade and architectural feature lighting, additional parking spaces, and new and improved circulation. The center serves a vibrant trade area.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    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.

    Similar Places Nearby

    • Rice Lake Square — 225 Rice Lake Square, Wheaton, IL 60189
    • First National Plaza — 1275 Butterfield Rd, Wheaton, IL 60189
    • Danada Square East — 27 Danada Square E, Wheaton, IL 60187
    • Danada Square West — 120 Danada Square W, Wheaton, IL 60189
    • Coinstar — 30 Danada Square W, Wheaton, IL 60189

    Location Insight

    • Map
    • Local Demand
    City
    Wheaton
    County
    DuPage
    State
    Illinois
    Longitude
    -88.0989
    Latitude
    41.8296

    Nearby Similar for Lease

    • Contact for pricing

      Newly Remodeled Office Suites

      Private office suites with all-inclusive rent in a professional setting.
      610 W Roosevelt Road unit: D2, Wheaton, IL 60187
      View Details
    • Contact for pricing

      Retail Space in Downtown Wheaton

      Prime retail space with high visibility and strong foot traffic.
      210 N Main Street, Wheaton, IL 60187
      View Details
    • $20/mo

      Retail Space on Main Street

      Retail space with parking in front and rear.
      Wheaton, IL 60187
      View Details
    • $20/mo

      Retail Space on Main Street

      Retail space available in a charming Main Street location.
      1501-1525 N. Main St & 105-107 Hawthorne Blvd, Wheaton, IL 60187
      View Details
    • $22/mo

      Retail Space in Wheaton, Illinois

      Retail space available for lease in Wheaton, Illinois.
      101-103 Front St., Wheaton, IL 60187
      View Details
    • $19/mo

      Office Space in Busy Corridor

      545 SF office space in a busy office corridor.
      416 E Roosevelt Rd, Wheaton, IL
      View Details
    • Contact for pricing

      Wheaton Restaurant Lease Opportunity

      Restaurant building for lease in Wheaton Danada trade area.
      50 East Loop Road, Wheaton, IL, 60189
      View Details
    • Contact for pricing

      Downtown Wheaton Office Space

      Standalone office building near Metra with ample parking.
      240 E Willow Ave, Wheaton, IL 60187
      View Details
    • $10/mo

      Office Space with Window Offices

      Office unit featuring a reception area and four window offices.
      2100 Manchester Rd, Wheaton, IL
      View Details
    • Contact for pricing

      Wheaton Retail Space For Rent

      Retail space available in the heart of Wheaton, Illinois.
      311-391 Town Sq, Wheaton, IL
      View Details
    • Contact for pricing

      Wheaton Retail Space For Rent

      Retail space in a dynamic, highly trafficked Wheaton location.
      91-301 Town Square, Wheaton, IL
      View Details
    • Contact for pricing

      Retail Space in Danada Trade

      Retail spaces available in well-located Danada trade area.
      1-49 Rice Lake Sq, Wheaton, IL
      View Details

    FAQs

    What type of property is this?
    Shopping center - Prime retail space in revitalized Wheaton shopping center.
    Where is this shopping center located?
    The property is located at 321 Rice Lake Sq Wheaton, IL.
    What are key features of this property?
    This property features: Prime 1,950 SF outlot endcap position.; Situated in Rice Lake Square, Wheaton, Illinois.; Serves a vibrant, affluent trade area.
    (630) 954-7300
    We can help!
    Listing Contact
    Marget Graham
    Marget Graham
    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!