Medical Office Building with Flex
New
For Sale
$699,000
17 Scrementi Ln, Steger, IL 60475
Two separately configured units offer options to occupy one portion and lease the other.
Property Size4,270 SF
Price / SF$163.70
Days on Market2
Property Features for 17 Scrementi Ln
General Information
Standard status
Active
Size
4,270 SF
Total Parking Spaces
10
Zoning
B-1
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Office Units
2
Building Details
Year Built
2011
Buildings
1
Stories
2
Construction
brick
Tenancy
Single
Owner Occupied
Yes
Listing Agency:
Re/Max 10
Listed By:
Cara Dulaitis · License #475171505
(708) 227-7530
Source:
Grandviewrealtyservices
Added: Sep 26
Last Checked: Sep 26 at 2:59PM
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 Re/Max 10
Investment Insights
Based on property information with market context.
This 4,270-square-foot, two-story brick medical office was built in 2011 and is arranged as two separate units. Its clinical layout includes private offices along a central corridor, a reception area, accessible private bathrooms, a modern kitchen, and a large conference room. Finished space on the second floor is used for fitness and wellness activities and file storage. The property has B-1 zoning and is ready for occupancy.
Ten dedicated parking spaces are located at the front of the building, which sits on a quiet cul-de-sac near Dixie Highway, US-30, and IL-394. Public bus routes and Metra service are also nearby.
Ten dedicated parking spaces are located at the front of the building, which sits on a quiet cul-de-sac near Dixie Highway, US-30, and IL-394. Public bus routes and Metra service are also nearby.
Key Highlights
- 4,270‑square‑foot medical office building completed in 2011
- Two‑story brick construction with two separately configured units
- Clinical layout includes private offices, reception, accessible bathrooms, kitchen, and conference room
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
$58,876
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
8.42%
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%
$1,177,520
$1.2M
Cap Rate 7%
$841,086
$841.1K
Cap Rate 9%
$654,178
$654.2K
Market Conditions
NOI Build-Up for 4,270 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
$104.5K $24.48/SF
− Vacancy
−$26.0K −$6.10/SF
EGI
$78.5K $18.38/SF
− OpEx
−$19.6K −$4.60/SF
NOI
$58.9K $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%
$1,177,520
Cap Rate 7%
$841,086
Cap Rate 9%
$654,178
Alternative Uses
Best Use
Office B
$841.1K
$736.0K – $981.3K
NOI $58,876 @ 7.0% cap · market cap 8.42%
Second Best
Healthcare Medical
$808.1K
$707.1K – $942.8K
NOI $56,569 @ 7.0% cap · market cap 8.09%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,197 @ 7.0% cap · market cap 14.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
487
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60475, IL
9,969
Population
4,790
Households
2.1
Avg Household Size
38
Median Age
16%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
2,077
Density / Sq Mi
$61,222
Median Household Income
$38,837
Median Earnings
$1,032
Median Rent
$137,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- County Line Pet Hospital — 3312 Chicago Rd, Steger, IL 60475
- Karen M. Askounis, DVM — 3312 Chicago Rd, Steger, IL 60475
- Lamastus-Askou Karen DVM — 3312 Chicago Rd, Steger, IL 60475
- T. Martin-Maragh, DVM — 3312 Chicago Rd, Steger, IL 60475
Frequently Asked Questions
What type of property is this?
Medical Office Space - Two separately configured units offer options to occupy one portion and lease the other.
Where is this medical office space located?
The property is located at 17 Scrementi Ln Steger, IL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 4,270‑square‑foot medical office building completed in 2011; Two‑story brick construction with two separately configured units; Clinical layout includes private offices, reception, accessible bathrooms, kitchen, and conference room
