Updated Office Suite with Eight
For Sale
$384,900
2541 Division Street 103-104, Joliet, IL 60435
Combined office unit offers multiple private offices, conference room, and updated improvements with ample parking.
Property Size2,000 SF
Price / SF$192.45
Days on Market111
Property Features for 2541 Division Street 103-104
General Information
Standard status
Active
Size
2,000 SF
Building Details
Year Built
2002
Listing Agency:
NTEG Realty LLC
Listed By:
Richard Gorecki · License #471004260
(708) 428-5778
Source:
Liveliferealty
Added: Jun 17
Changed: Oct 5
Last Checked: Oct 4 at 11:21AM
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 NTEG Realty LLC
Investment Insights
Based on property information with market context.
This property consists of two units combined into one larger office suite. The space features eight private offices, a conference room, reception area, and a kitchen area. Additional interior utility and support areas include a storage closet and a utility room, along with a flex room for adaptable use. There are two bathrooms, providing convenience for office operations.
The offering includes recent exterior and interior updates. The roof was installed approximately four years ago, and cosmetic updates were completed over the past couple of years. Plenty of parking is available on site, supporting straightforward access for employees and visitors.
Designed for professional tenants seeking a ready-to-occupy office configuration, the suite’s office count, reception setup, and conference room support day-to-day workflow and client meetings. The included kitchen and two-bathroom layout can support longer workdays and team use, while the flex room adds flexibility for additional functions within an office environment.
The offering includes recent exterior and interior updates. The roof was installed approximately four years ago, and cosmetic updates were completed over the past couple of years. Plenty of parking is available on site, supporting straightforward access for employees and visitors.
Designed for professional tenants seeking a ready-to-occupy office configuration, the suite’s office count, reception setup, and conference room support day-to-day workflow and client meetings. The included kitchen and two-bathroom layout can support longer workdays and team use, while the flex room adds flexibility for additional functions within an office environment.
Key Highlights
- Year built 2002 office space with 8 private offices plus a conference room
- Includes reception area, kitchen area, 2 bathrooms, storage closet, utility room, and flex room
- Recently updated with a roof installed about 4 years ago
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,240
Cap Rate
7.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$604,800
$604.8K
Cap Rate 7%
$432,000
$432.0K
Cap Rate 9%
$336,000
$336.0K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$48.0K $24.00/SF
− Vacancy
−$7.7K −$3.84/SF
EGI
$40.3K $20.16/SF
− OpEx
−$10.1K −$5.04/SF
NOI
$30.2K $15.12/SF
Area
Joliet, IL
Vacancy
16.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$604,800
Cap Rate 7%
$432,000
Cap Rate 9%
$336,000
Alternative Uses
Best Use
Office B
$432.0K
$378.0K – $504.0K
NOI $30,240 @ 7.0% cap · market cap 7.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$589.7K
$516.0K – $688.0K
NOI $41,280 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
181
Businesses Nearby
Explore this area
Business Placement
Demographics for 60435, IL
48,927
Population
20,162
Households
2.4
Avg Household Size
37
Median Age
23%
College-Educated
85%
High-School Grad
10.8 sq mi
ZIP Area
4,530
Density / Sq Mi
$74,967
Median Household Income
$41,201
Median Earnings
$1,145
Median Rent
$217,200
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - Combined office unit offers multiple private offices, conference room, and updated improvements with ample parking.
Where is this office units located?
The property is located at 2541 Division Street 103-104 Joliet, IL.
What is the asking price?
The asking price for this property is $384,900.
What are key features of this property?
This property features: Year built 2002 office space with 8 private offices plus a conference room; Includes reception area, kitchen area, 2 bathrooms, storage closet, utility room, and flex room; Recently updated with a roof installed about 4 years ago
