Three-Story Medical Office
New
For Sale
$2,850,000
1288 Rickert Dr, Naperville, IL 60540
Fully occupied four-suite layout includes three medical tenants and one professional office tenant.
Property Size13,719 SF
Price / SF$208.33
Days on Market2
Property Features for 1288 Rickert Dr
General Information
Standard status
Active
Size
13,719 SF
Occupancy
100%
Additional Details
Office Units
4
Building Details
Year Built
1989
Buildings
1
Stories
3
Building Size
13,719 SF
Tenancy
Multi
Listing Agency:
Sperry Van Ness
Listed By:
Olivia Czyzynski · License #475146577
(312) 676-1862
Source:
Grandviewrealtyservices
Added: Sep 10
Last Checked: Sep 10 at 2:37PM
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 Sperry Van Ness
Investment Insights
Based on property information with market context.
Brighton Commons is a three-story medical office property arranged into four suites and currently fully occupied. The tenant roster includes three established medical practices and one professional office user, creating a mixed medical and office configuration. The building was constructed in 1989 and has been updated. A lease for the professional office space expires in April 2028, presenting a defined point for evaluating future third-floor medical office conversion.
The property is located at the intersection of Rickert Drive and 75th Street in Naperville, with reported traffic counts of 30,000 vehicles per day. Edward Hospital is one mile away, and the asset is situated within DuPage County. The surrounding submarket is identified as the Western East/West Corridor, with demand for medical office space noted in the source information.
The property is located at the intersection of Rickert Drive and 75th Street in Naperville, with reported traffic counts of 30,000 vehicles per day. Edward Hospital is one mile away, and the asset is situated within DuPage County. The surrounding submarket is identified as the Western East/West Corridor, with demand for medical office space noted in the source information.
Key Highlights
- Four‑suite medical office building is fully occupied
- Three established medical tenants and one professional office tenant
- Three‑story building constructed in 1989
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
$187,142
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
6.57%
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%
$3,742,840
$3.7M
Cap Rate 7%
$2,673,457
$2.7M
Cap Rate 9%
$2,079,356
$2.1M
Market Conditions
NOI Build-Up for 13,680 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
$328.3K $24.00/SF
− Vacancy
−$16.4K −$1.20/SF
EGI
$311.9K $22.80/SF
− OpEx
−$124.8K −$9.12/SF
NOI
$187.1K $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%
$3,742,840
Cap Rate 7%
$2,673,457
Cap Rate 9%
$2,079,356
Alternative Uses
Best Use
Healthcare Medical
$2.67M
$2.34M – $3.12M
NOI $187,142 @ 7.0% cap · market cap 6.57%
Second Best
Office B
$2.31M
$2.02M – $2.70M
NOI $161,743 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$3.09M
$2.70M – $3.60M
NOI $216,153 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Office units
100%
Occupancy
Multi-tenant
Tenancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Medical Office Space - Fully occupied four-suite layout includes three medical tenants and one professional office tenant.
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: Four‑suite medical office building is fully occupied; Three established medical tenants and one professional office tenant; Three‑story building constructed in 1989
