Medical Office Building with Dental
For Sale
Contact for pricing
2071 Irving Park Rd, Hanover Park, IL 60133
A 6,600 SF medical office building includes 1,300 SF move-in ready dental space and an additional 3,000 SF for an owner.
Property Size6,600 SF
Price / SF$149.92
Days on Market820
Property Features for 2071 Irving Park Rd
General Information
Standard status
Active
Size
6,600 SF
Property subtype
OFFICE
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
1
Building Size
6,600 SF
Listing Agency:
Versa Real Estate Services
(630) 480-6413
Listed By:
John Millner. · License #475145921
(630) 220-0989
Source:
Moodyscre
Added: Jul 25, 2024
Changed: Oct 7
Last Checked: Oct 20 at 10:04PM
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 Versa Real Estate Services
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Investment Insights
Based on property information with market context.
This 6,600 SF medical office building includes a 1,300 SF move-in ready dental space and an additional 3,000 SF that an owner could occupy. The property is offered for sale through Versa Real Estate Services as the exclusive agent.
The building has high visibility and exposure to approximately 23,000 vehicles daily on Irving Park Rd, with convenient travel access to nearby suburbs via I-290. The surrounding area includes numerous fast serve and fine dining restaurants.
The space configuration provides flexibility for either occupancy within the dental suite or owner-occupancy of the additional available area, supporting a streamlined plan for a medical or related professional use.
The building has high visibility and exposure to approximately 23,000 vehicles daily on Irving Park Rd, with convenient travel access to nearby suburbs via I-290. The surrounding area includes numerous fast serve and fine dining restaurants.
The space configuration provides flexibility for either occupancy within the dental suite or owner-occupancy of the additional available area, supporting a streamlined plan for a medical or related professional use.
Key Highlights
- 6,600 SF medical office building with 1,300 SF move‑in ready dental space
- Additional 3,000 SF available for an owner to occupy
- High visibility with exposure to approximately 23,000 vehicles daily on Irving Park Rd
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$91,003
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,820,060
$1.8M
Cap Rate 7%
$1,300,043
$1.3M
Cap Rate 9%
$1,011,144
$1.0M
Market Conditions
NOI Build-Up for 6,600 SF
Gross rent
$161.6K $24.48/SF
− Vacancy
−$40.2K −$6.10/SF
EGI
$121.3K $18.38/SF
− OpEx
−$30.3K −$4.60/SF
NOI
$91.0K $13.79/SF
Area
Cook 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 Rate 5%
$1,820,060
Cap Rate 7%
$1,300,043
Cap Rate 9%
$1,011,144
Alternative Uses
Best Use
Office B
$1.30M
$1.14M – $1.52M
NOI $91,003 @ 7.0% cap · market cap 9.20%
Second Best
Healthcare Medical
$1.25M
$1.09M – $1.46M
NOI $87,437 @ 7.0% cap · market cap 8.84%
Theoretical Best
Office A
$2.28M
$1.99M – $2.66M
NOI $159,508 @ 7.0% cap · market cap 16.12%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
648
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60133, IL
37,494
Population
11,573
Households
3.2
Avg Household Size
35
Median Age
29%
College-Educated
84%
High-School Grad
8.4 sq mi
ZIP Area
4,464
Density / Sq Mi
$92,263
Median Household Income
$40,743
Median Earnings
$1,478
Median Rent
$260,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Animal Hospital of Streamwood — 904 E Irving Park Rd, Streamwood, IL 60107
Frequently Asked Questions
What type of property is this?
Medical Office Space - A 6,600 SF medical office building includes 1,300 SF move-in ready dental space and an additional 3,000 SF for an owner.
Where is this medical office space located?
The property is located at 2071 Irving Park Rd Hanover Park, IL.
What is the asking price?
The asking price for this property is $989,500.
What are key features of this property?
This property features: 6,600 SF medical office building with 1,300 SF move‑in ready dental space; Additional 3,000 SF available for an owner to occupy; High visibility with exposure to approximately 23,000 vehicles daily on Irving Park Rd
