Renovated Retail
For Sale
$320,000
124 E Oak Knoll Dr, Hampshire, IL 60140
Remodeled commercial space with flexible interiors, natural light, on-site parking, and convenient vehicle access.
Property Size1,184 SF
Lot Size0.48 Acres
Price / SF$270.27
Days on Market28
Property Features for 124 E Oak Knoll Dr
General Information
Standard status
Active
Size
1,184 SF
Lot size
0.48 Acres
Zoning
B-2
Site & Location
Drive-Thru
No
Traffic Count
12,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Asking Price
$325,000
Amenities
attached two-car garage
Building Details
Year Built
1960
Buildings
1
Listing Agency:
Keller Williams Inspire - Geneva
(630) 615-8267
Listed By:
Alissa Roy · License #475161511
Source:
Bktchicago
Added: Aug 2
Changed: Aug 29
Last Checked: Aug 25 at 4:08AM
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 Keller Williams Inspire - Geneva
Investment Insights
Based on property information with market context.
This renovated storefront property offers 1,289 square feet on the main level, updated flooring and lighting, and an open interior with abundant natural light. A full unfinished basement and attached two-car garage provide additional functional space, although the source information reports differing total-area figures. The building dates to 1960 and has been updated for contemporary commercial use.
Located at 124 E Oak Knoll Drive in Hampshire, the property has frontage on Illinois Route 72, an established curb cut, and a 0.48-acre site. Traffic exposure is reported at approximately 12,000 vehicles per day. On-site parking, existing ingress and egress, and available outdoor area support customer-facing retail or other commercial operations. The property is also identified as being within the Hampshire-Pingree Grove growth corridor, near residential development and expanding retail activity.
Located at 124 E Oak Knoll Drive in Hampshire, the property has frontage on Illinois Route 72, an established curb cut, and a 0.48-acre site. Traffic exposure is reported at approximately 12,000 vehicles per day. On-site parking, existing ingress and egress, and available outdoor area support customer-facing retail or other commercial operations. The property is also identified as being within the Hampshire-Pingree Grove growth corridor, near residential development and expanding retail activity.
Key Highlights
- 1,289 square feet on the main level
- 0.48‑acre commercial site with Illinois Route 72 frontage
- Approximately 12,000 vehicles per day of reported traffic exposure
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,292
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$285,840
$285.8K
Cap Rate 7%
$204,171
$204.2K
Cap Rate 9%
$158,800
$158.8K
Market Conditions
NOI Build-Up for 1,184 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$21.3K $18.00/SF
− Vacancy
−$895 −$0.76/SF
EGI
$20.4K $17.24/SF
− OpEx
−$6.1K −$5.17/SF
NOI
$14.3K $12.07/SF
Area
Kane County, IL
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$285,840
Cap Rate 7%
$204,171
Cap Rate 9%
$158,800
Alternative Uses
Best Use
Retail
$204.2K
$178.7K – $238.2K
NOI $14,292 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$408.8K
$357.7K – $476.9K
NOI $28,615 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
18k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 82%
Dining 18%
Casey's General Store
Shops & Services
8,754 visits/mo
0.1 miles
Mobil
Shops & Services
4,948 visits/mo
0.2 miles
Dairy Queen
Dining
2,440 visits/mo
0.2 miles
Napa Auto Parts
Shops & Services
958 visits/mo
0.2 miles
SUBWAY
Dining
749 visits/mo
0.2 miles
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Remodeled commercial space with flexible interiors, natural light, on-site parking, and convenient vehicle access.
Where is this storefront property located?
The property is located at 124 E Oak Knoll Dr Hampshire, IL.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 1,289 square feet on the main level; 0.48‑acre commercial site with Illinois Route 72 frontage; Approximately 12,000 vehicles per day of reported traffic exposure
