Naperville Medical/Office Investment
For Sale
Contact for pricing
Pending
1288 Rickert Dr, Naperville, IL 60540
Fully occupied medical/office building in Naperville's high-demand submarket.
Property Size13,719 SF
Days on Market181
Property Features for 1288 Rickert Dr
General Information
Standard status
Pending
Size
13,719 SF
Class
B
Property subtype
Office
Zoning
B-3
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Building Details
Year Built
1989
Year Renovated
2025
Buildings
1
Stories
3
Units
4
Tenancy
Multi
Listing Agency:
SVN | Chicago Commercial
(312) 676-1862
Listed By:
Lina Adamis · License #IL 475213076
Source:
Crexi
Added: Feb 20
Changed: Aug 8
Last Checked: Jul 24 at 4:58PM
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 SVN | Chicago Commercial
Investment Insights
Based on property information with market context.
Brighton Commons is a fully occupied, three-story medical/office building totaling 13,719 square feet, divided into four suites. The property houses three established medical tenants and one professional office tenant. There is potential to enhance the asset’s value by securing an additional medical tenant and converting the third floor to medical office space upon the existing lease expiration in April 2028. The property is located in the Naperville submarket, benefiting from demographics and visibility. Situated one mile from Edward Hospital, the location is suited for medical tenants. The average household income exceeds $201,000 within a three-mile radius. The property has exposure at the intersection of Rickert Drive and 75th Street, with traffic counts of 30,000 vehicles per day. All tenants operate under triple net (NNN) lease structures, reimbursing the landlord for all property operating expenses and real estate taxes. Total operating expenses and taxes amount to $97,045 ($7.07 per square foot). Located in DuPage County, the property benefits from lower real estate taxes than neighboring counties, and the property’s tax burden has remained stable over the past three years. The property is located in the Western East/West Corridor submarket of Greater Chicago, within DuPage County. The area spans Hampshire to the North, Lisle to the East, and Yorkville to the South, stretching toward DeKalb.
Key Highlights
- Strategically located in the prestigious Naperville submarket, one mile from Edward Hospital, benefiting from strong demographics and high visibility in a strong medical market.
- 100% occupied with three established medical tenants and one professional office tenant, providing immediate income and stability.
- Significant value‑add potential by securing an additional medical tenant and converting the third floor to medical office space upon lease expiration in April 2028.
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
$187,676
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
6.59%
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%
$3,753,520
$3.8M
Cap Rate 7%
$2,681,086
$2.7M
Cap Rate 9%
$2,085,289
$2.1M
Market Conditions
NOI Build-Up for 13,719 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
$329.3K $24.00/SF
− Vacancy
−$16.5K −$1.20/SF
EGI
$312.8K $22.80/SF
− OpEx
−$125.1K −$9.12/SF
NOI
$187.7K $13.68/SF
Area
Naperville, IL
Vacancy
5.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$3,753,520
Cap Rate 7%
$2,681,086
Cap Rate 9%
$2,085,289
Alternative Uses
Best Use
Healthcare Medical
$2.68M
$2.35M – $3.13M
NOI $187,676 @ 7.0% cap · market cap 6.59%
Second Best
Office B
$2.32M
$2.03M – $2.70M
NOI $162,204 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$3.10M
$2.71M – $3.61M
NOI $216,769 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,026
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60540, IL
44,201
Population
16,253
Households
2.7
Avg Household Size
41
Median Age
72%
College-Educated
98%
High-School Grad
13.2 sq mi
ZIP Area
3,349
Density / Sq Mi
$155,866
Median Household Income
$70,026
Median Earnings
$1,982
Median Rent
$504,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- VCA Naper Ridge Animal Hospital — 987 Maplefield Rd, Naperville, IL 60565
- Dr. Jill Demers — 987 Maplefield Rd, Naperville, IL 60565
Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully occupied medical/office building in Naperville's high-demand submarket.
Where is this medical office space located?
The property is located at 1288 Rickert Dr Naperville, IL.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: Strategically located in the prestigious Naperville submarket, one mile from Edward Hospital, benefiting from strong demographics and high visibility in a strong medical market.; 100% occupied with three established medical tenants and one professional office tenant, providing immediate income and stability.; Significant value‑add potential by securing an additional medical tenant and converting the third floor to medical office space upon lease expiration in April 2028.
