Renovated Multi-Elevator Office
For Sale
Contact for pricing
739 E North Ave, Glendale Heights, IL 60139
Renovated 14,500 SF office building with a stone facade, custom staircase, and three elevators.
Property Size14,500 SF
Price / SF$193.10
Days on Market851
Property Features for 739 E North Ave
General Information
Standard status
Active
Size
14,500 SF
Property subtype
OFFICE
Additional Details
Road Access
Yes
Amenities
custom staircase
3 elevators
zoned heating & cooling
crown molding
Building Details
Construction
stone facade
Listing Agency:
SVN | Chicago - Corporate
(312) 676-1866
Listed By:
Lina Adamis
(224) 723-2528
Source:
Moodyscre
Added: May 18, 2024
Changed: Aug 15
Last Checked: Sep 14 at 10:00AM
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 - Corporate
Investment Insights
Based on property information with market context.
This renovated office building totals 14,500 square feet and features a lavish stone facade, custom staircase, and crown molding. Interior improvements include zoned heating and cooling, along with three elevators.
The property is located on a busy corridor in Glendale Heights, within DuPage County. Public remarks also note low property taxes.
The building’s elevator and zoned HVAC configuration support efficient vertical circulation and temperature control across the office space.
The property is located on a busy corridor in Glendale Heights, within DuPage County. Public remarks also note low property taxes.
The building’s elevator and zoned HVAC configuration support efficient vertical circulation and temperature control across the office space.
Key Highlights
- Renovated 14,500 SF office building at 739 North Avenue in Glendale Heights
- Lavish stone facade and renovated interior and exterior
- Custom staircase and crown molding
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
$199,931
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
7.14%
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%
$3,998,620
$4.0M
Cap Rate 7%
$2,856,157
$2.9M
Cap Rate 9%
$2,221,456
$2.2M
Market Conditions
NOI Build-Up for 14,500 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
$355.0K $24.48/SF
− Vacancy
−$88.4K −$6.10/SF
EGI
$266.6K $18.38/SF
− OpEx
−$66.6K −$4.60/SF
NOI
$199.9K $13.79/SF
Area
DuPage County, IL
Vacancy
24.90%
Lease Rate
$24.48 /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%
$3,998,620
Cap Rate 7%
$2,856,157
Cap Rate 9%
$2,221,456
Alternative Uses
Best Use
Office B
$2.86M
$2.50M – $3.33M
NOI $199,931 @ 7.0% cap · market cap 7.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.01M
$4.38M – $5.84M
NOI $350,433 @ 7.0% cap · market cap 12.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
Explore this area
Business Placement
Demographics for 60139, IL
33,196
Population
11,882
Households
2.8
Avg Household Size
36
Median Age
30%
College-Educated
83%
High-School Grad
5.5 sq mi
ZIP Area
6,036
Density / Sq Mi
$81,996
Median Household Income
$41,752
Median Earnings
$1,558
Median Rent
$249,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Renovated 14,500 SF office building with a stone facade, custom staircase, and three elevators.
Where is this office building located?
The property is located at 739 E North Ave Glendale Heights, IL.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Renovated 14,500 SF office building at 739 North Avenue in Glendale Heights; Lavish stone facade and renovated interior and exterior; Custom staircase and crown molding
