Office Condominium
For Sale
$575,000
Pending
325 W Dundee Road, Buffalo Grove, IL 60089
Office condominium space with parking and direct access to Dundee Road.
Property Size2,000 SF
Days on Market531
Property Features for 325 W Dundee Road
General Information
Standard status
Pending
Size
2,000 SF
Property subtype
Commercial/Industrial
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$17,709
Building Details
Year Built
2005
Listing Agency:
Coldwell Banker Realty
(630) 369-9000
Listed By:
Michael Velasco · License #471002915
(847) 409-0232
Source:
Exitrealty
Added: Mar 22, 2025
Changed: Aug 30
Last Checked: Aug 30 at 6:23PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This office condominium unit is located within an office center built in 2005. The property includes access to parking and provides direct access to Dundee Road, supporting convenient arrival for occupants and visitors.
The property is at 325 W Dundee Road in Buffalo Grove, Illinois, approximately one-half mile west of Buffalo Grove Road and two miles east of IL-53. Adjacent units 329 and 333 are also offered separately, providing additional office condominium options within the same center.
The property is at 325 W Dundee Road in Buffalo Grove, Illinois, approximately one-half mile west of Buffalo Grove Road and two miles east of IL-53. Adjacent units 329 and 333 are also offered separately, providing additional office condominium options within the same center.
Key Highlights
- Office condominium unit in a center built in 2005
- Parking available within the office center
- Access to Dundee Road
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
$27,577
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
4.80%
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%
$551,540
$551.5K
Cap Rate 7%
$393,957
$394.0K
Cap Rate 9%
$306,411
$306.4K
Market Conditions
NOI Build-Up for 2,000 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
$49.0K $24.48/SF
− Vacancy
−$12.2K −$6.10/SF
EGI
$36.8K $18.38/SF
− OpEx
−$9.2K −$4.60/SF
NOI
$27.6K $13.79/SF
Area
Lake 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%
$551,540
Cap Rate 7%
$393,957
Cap Rate 9%
$306,411
Alternative Uses
Best Use
Office B
$394.0K
$344.7K – $459.6K
NOI $27,577 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$690.5K
$604.2K – $805.6K
NOI $48,336 @ 7.0% cap · market cap 8.41%
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
816
Businesses Nearby
Explore this area
Business Placement
Demographics for 60089, IL
43,227
Population
16,551
Households
2.6
Avg Household Size
43
Median Age
67%
College-Educated
97%
High-School Grad
9.8 sq mi
ZIP Area
4,411
Density / Sq Mi
$129,932
Median Household Income
$70,514
Median Earnings
$2,042
Median Rent
$393,000
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 - Office condominium space with parking and direct access to Dundee Road.
Where is this office units located?
The property is located at 325 W Dundee Road Buffalo Grove, IL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Office condominium unit in a center built in 2005; Parking available within the office center; Access to Dundee Road
