Commercial Land with Existing
For Sale
$2,350,000
1340 Ogden Avenue, Downers Grove, IL 60515
Ogden Avenue parcel with multiple buildings, established tenancy, parking, and potential for drive-through-oriented development.
Property Size12,000 SF
Days on Market375
Property Features for 1340 Ogden Avenue
General Information
Standard status
Active
Size
12,000 SF
Property subtype
Commercial
Zoning
COMMR
Taxes and HOA fees
Annual Taxes
$27,000
Building Details
Building Size
12,000 SF
Year Built
1968
Stories
1
Listing Agency:
Century 21 Circle
(773) 465-4200
Listed By:
Mark Ahmad · License #471007186
(773) 465-4200
Source:
Midwestrealestate
Added: Aug 20, 2025
Changed: Aug 28
Last Checked: Aug 29 at 10:17AM
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 Century 21 Circle
Investment Insights
Based on property information with market context.
This commercial land offering includes approximately 12,000 square feet across five buildings constructed in 1968. Three tenants occupy the existing improvements, which provide an established commercial configuration alongside substantial parking at the rear and sides of the site. The property may also accommodate a drive-through concept, subject to applicable approvals.
The parcel sits at Ogden Avenue and Venard Road in Downers Grove, within an established commercial district that includes major tenants and automobile dealerships. Access to major roads and proximity to interstates support regional connectivity. Nearby communities include Naperville, Westmont, Lombard, Villa Park, Woodridge, Hinsdale, Burr Ridge, Lisle, and Wheaton.
The parcel sits at Ogden Avenue and Venard Road in Downers Grove, within an established commercial district that includes major tenants and automobile dealerships. Access to major roads and proximity to interstates support regional connectivity. Nearby communities include Naperville, Westmont, Lombard, Villa Park, Woodridge, Hinsdale, Burr Ridge, Lisle, and Wheaton.
Key Highlights
- Approximately 12,000 square feet across 5 buildings
- 3 tenants occupy the existing improvements
- More than 1 acre of commercial land
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
$166,562
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
7.09%
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%
$3,331,240
$3.3M
Cap Rate 7%
$2,379,457
$2.4M
Cap Rate 9%
$1,850,689
$1.9M
Market Conditions
NOI Build-Up for 12,000 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
$259.2K $21.60/SF
− Vacancy
−$21.3K −$1.77/SF
EGI
$237.9K $19.83/SF
− OpEx
−$71.4K −$5.95/SF
NOI
$166.6K $13.88/SF
Area
DuPage County, IL
Vacancy
8.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$3,331,240
Cap Rate 7%
$2,379,457
Cap Rate 9%
$1,850,689
Alternative Uses
Best Use
Retail
$2.38M
$2.08M – $2.78M
NOI $166,562 @ 7.0% cap · market cap 7.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.14M
$3.63M – $4.83M
NOI $290,014 @ 7.0% cap · market cap 12.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
743
Businesses Nearby
159k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 40%
Shops & Services 36%
Groceries 24%
Jewel-Osco
Groceries
38,412 visits/mo
0.3 miles
Delta Sonic Car Wash
Shops & Services
24,282 visits/mo
0.1 miles
BP
Shops & Services
16,980 visits/mo
0.4 miles
Starbucks
Dining
12,325 visits/mo
0.3 miles
Chipotle Mexican Grill
Dining
9,823 visits/mo
0.3 miles
Demographics for 60515, IL
29,278
Population
12,443
Households
2.4
Avg Household Size
43
Median Age
61%
College-Educated
98%
High-School Grad
11.8 sq mi
ZIP Area
2,481
Density / Sq Mi
$121,358
Median Household Income
$69,341
Median Earnings
$1,563
Median Rent
$453,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Ogden Avenue parcel with multiple buildings, established tenancy, parking, and potential for drive-through-oriented development.
Where is this commercial land located?
The property is located at 1340 Ogden Avenue Downers Grove, IL.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Approximately 12,000 square feet across 5 buildings; 3 tenants occupy the existing improvements; More than 1 acre of commercial land
