Class A Office
For Sale
Contact for pricing
13500-13560 Circle Dr, Orland Park, IL 60462
Class A office space with high-visibility frontage, paver parking, and outdoor patio plus basement storage.
Property Size11,600 SF
Lot Size1.01 Acres
Price / SF$189.66
Days on Market150
Property Features for 13500-13560 Circle Dr
General Information
Standard status
Active
Size
11,600 SF
Class
A
Total Parking Spaces
46
Lot size
1.01 Acres
Property subtype
OFFICE
Additional Details
Road Access
Yes
Amenities
Outdoor Patio
Basement Storage Spaces
Paver Parking Lot
Listing Agency:
Cawley Chicago
(312) 766-4281
Listed By:
Rawly Lantz, SIOR
(630) 886-3069
Source:
Moodyscre
Added: Apr 17
Changed: Sep 13
Last Checked: Sep 13 at 11:26AM
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 Cawley Chicago
Investment Insights
Based on property information with market context.
This Class A office building offers move-in ready space, professionally built and maintained by McNaughton Development. The property includes an outdoor patio area and basement storage spaces to support day-to-day operations.
The building is positioned with high-visibility frontage on LaGrange Road and is located near numerous amenities. Parking is provided via a paver parking lot with 46 free-surface spaces.
The site encompasses approximately 1.01 acres and is suited for tenants seeking a polished, ready-to-occupy office environment with on-site parking and supplemental storage.
The building is positioned with high-visibility frontage on LaGrange Road and is located near numerous amenities. Parking is provided via a paver parking lot with 46 free-surface spaces.
The site encompasses approximately 1.01 acres and is suited for tenants seeking a polished, ready-to-occupy office environment with on-site parking and supplemental storage.
Key Highlights
- Class A office space with high‑visibility frontage on LaGrange Road
- ±1.01 acres with a paver parking lot and 46 free‑surface parking spaces
- Move‑in ready office space professionally built and maintained by McNaughton Development
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
$159,945
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
7.27%
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%
$3,198,900
$3.2M
Cap Rate 7%
$2,284,929
$2.3M
Cap Rate 9%
$1,777,167
$1.8M
Market Conditions
NOI Build-Up for 11,600 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
$284.0K $24.48/SF
− Vacancy
−$70.7K −$6.10/SF
EGI
$213.3K $18.38/SF
− OpEx
−$53.3K −$4.60/SF
NOI
$159.9K $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 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%
$3,198,900
Cap Rate 7%
$2,284,929
Cap Rate 9%
$1,777,167
Alternative Uses
Best Use
Office B
$2.28M
$2.00M – $2.67M
NOI $159,945 @ 7.0% cap · market cap 7.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.00M
$3.50M – $4.67M
NOI $280,347 @ 7.0% cap · market cap 12.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
169
Businesses Nearby
Explore this area
Business Placement
Demographics for 60462, IL
40,539
Population
17,335
Households
2.3
Avg Household Size
45
Median Age
45%
College-Educated
94%
High-School Grad
16.0 sq mi
ZIP Area
2,534
Density / Sq Mi
$96,747
Median Household Income
$52,902
Median Earnings
$1,393
Median Rent
$330,400
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Class A office space with high-visibility frontage, paver parking, and outdoor patio plus basement storage.
Where is this office building located?
The property is located at 13500-13560 Circle Dr Orland Park, IL.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Class A office space with high‑visibility frontage on LaGrange Road; ±1.01 acres with a paver parking lot and 46 free‑surface parking spaces; Move‑in ready office space professionally built and maintained by McNaughton Development
