Move-In Ready Office
For Sale
Contact for pricing
101 W 22nd St, Lombard, IL 60148
Move-in ready office space with modern updates, abundant parking, and close highway access.
Property Size2,200 SF
Price / SF$155
Days on Market635
Property Features for 101 W 22nd St
General Information
Standard status
Active
Size
2,200 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Listing Agency:
Morken & Associates
(630) 817-7815
Listed By:
Brian Morken
Source:
Moodyscre
Added: Nov 22, 2024
Changed: Aug 8
Last Checked: Aug 18 at 12:34PM
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 Morken & Associates
Investment Insights
Based on property information with market context.
Move-in ready office space with modern updates throughout, offered with abundant parking. The property is professionally managed and currently tax exempt.
Located at 101 W 22nd St in Lombard, Illinois, the building provides convenient access to nearby highways.
This offering is presented as a fit for non-profit, charity, or 501(c)(3) organizations, based on the property’s current tax-exempt status.
Located at 101 W 22nd St in Lombard, Illinois, the building provides convenient access to nearby highways.
This offering is presented as a fit for non-profit, charity, or 501(c)(3) organizations, based on the property’s current tax-exempt status.
Key Highlights
- Move‑in ready office space with modern updates throughout
- Abundant parking
- Close proximity to highways for convenient access
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
$30,334
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
8.90%
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%
$606,680
$606.7K
Cap Rate 7%
$433,343
$433.3K
Cap Rate 9%
$337,044
$337.0K
Market Conditions
NOI Build-Up for 2,200 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
$53.9K $24.48/SF
− Vacancy
−$13.4K −$6.10/SF
EGI
$40.4K $18.38/SF
− OpEx
−$10.1K −$4.60/SF
NOI
$30.3K $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%
$606,680
Cap Rate 7%
$433,343
Cap Rate 9%
$337,044
Alternative Uses
Best Use
Office B
$433.3K
$379.2K – $505.6K
NOI $30,334 @ 7.0% cap · market cap 8.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$759.6K
$664.6K – $886.2K
NOI $53,169 @ 7.0% cap · market cap 15.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,781
Businesses Nearby
Explore this area
Business Placement
Demographics for 60148, IL
52,794
Population
21,744
Households
2.4
Avg Household Size
40
Median Age
48%
College-Educated
96%
High-School Grad
13.8 sq mi
ZIP Area
3,826
Density / Sq Mi
$96,606
Median Household Income
$53,675
Median Earnings
$1,805
Median Rent
$328,600
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 units - Move-in ready office space with modern updates, abundant parking, and close highway access.
Where is this office units located?
The property is located at 101 W 22nd St Lombard, IL.
What is the asking price?
The asking price for this property is $341,000.
What are key features of this property?
This property features: Move‑in ready office space with modern updates throughout; Abundant parking; Close proximity to highways for convenient access
