Single-Story Multi-Tenant Office
For Sale
Contact for pricing
270 Remington Blvd, Bolingbrook, IL 60440
Fully leased, professionally managed single-story office with five tenants and an NNN leasing structure.
Property Size46,721 SF
Price / SF$139.02
Days on Market1067
Property Features for 270 Remington Blvd
General Information
Standard status
Active
Size
46,721 SF
Property subtype
OFFICE
Occupancy
100%
Additional Details
Highway Access
Yes
Building Details
Stories
1
Tenancy
Multi
Listing Agency:
Sperry Commercial | Chicago
(312) 402-3283
Listed By:
Michael Williamson · License ##475.161622
(847) 732-0504
Source:
Moodyscre
Added: Oct 11, 2023
Changed: Aug 14
Last Checked: Sep 10 at 12:25PM
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 Commercial | Chicago
Investment Insights
Based on property information with market context.
270 Remington is a fully-leased, single-story, multi-tenant office investment property with five tenants totaling 46,721 square feet. The building is professionally managed and maintained and is described as being in impeccable condition. Remington is one of two buildings on a 9.7-acre property, and the offering is structured on an NNN leasing basis, with zero common area loss factor.
The property is located in Will County directly off I-55 and IL-53, with easy access to interstate arteries including I-355. The campus is positioned for straightforward access for current and incoming tenancy. The property also notes curb appeal and a signage opportunity.
Most recently, in January, Amazon purchased a site for a future development distribution center less than a mile from the subject property. Tenancy is described as having consistent historical velocity within the Chicagoland submarket.
The property is located in Will County directly off I-55 and IL-53, with easy access to interstate arteries including I-355. The campus is positioned for straightforward access for current and incoming tenancy. The property also notes curb appeal and a signage opportunity.
Most recently, in January, Amazon purchased a site for a future development distribution center less than a mile from the subject property. Tenancy is described as having consistent historical velocity within the Chicagoland submarket.
Key Highlights
- Fully leased, single‑story multi‑tenant office investment with 5 tenants totaling 46,721 SF.
- NNN leasing structure; property professionally managed and maintained, reported in excellent condition.
- 9.7‑acre site with two buildings; Remington is one of the two buildings on the campus.
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
$561,269
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
8.64%
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%
$11,225,380
$11.2M
Cap Rate 7%
$8,018,129
$8.0M
Cap Rate 9%
$6,236,322
$6.2M
Market Conditions
NOI Build-Up for 46,721 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
$1.05M $22.56/SF
− Vacancy
−$305.7K −$6.54/SF
EGI
$748.4K $16.02/SF
− OpEx
−$187.1K −$4.00/SF
NOI
$561.3K $12.01/SF
Area
Will County, IL
Vacancy
29.00%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
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%
$11,225,380
Cap Rate 7%
$8,018,129
Cap Rate 9%
$6,236,322
Alternative Uses
Best Use
Office B
$8.02M
$7.02M – $9.35M
NOI $561,269 @ 7.0% cap · market cap 8.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.60M
$9.27M – $12.36M
NOI $741,743 @ 7.0% cap · market cap 11.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,111
Businesses Nearby
Explore this area
Business Placement
Demographics for 60440, IL
52,031
Population
17,750
Households
2.9
Avg Household Size
37
Median Age
31%
College-Educated
87%
High-School Grad
15.1 sq mi
ZIP Area
3,446
Density / Sq Mi
$95,120
Median Household Income
$45,021
Median Earnings
$1,648
Median Rent
$262,100
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?
Office building - Fully leased, professionally managed single-story office with five tenants and an NNN leasing structure.
Where is this office building located?
The property is located at 270 Remington Blvd Bolingbrook, IL.
What is the asking price?
The asking price for this property is $6,495,000.
What are key features of this property?
This property features: Fully leased, single‑story multi‑tenant office investment with 5 tenants totaling 46,721 SF.; NNN leasing structure; property professionally managed and maintained, reported in excellent condition.; 9.7‑acre site with two buildings; Remington is one of the two buildings on the campus.
