Multi-Level Flex
New
For Sale
$2,200,000
14 Center St, Bensenville, IL 60106
Mixed office, manufacturing, and warehouse areas support varied commercial occupancy across the building.
Property Size47,000 SF
Price / SF$46.81
Days on Market2
Property Features for 14 Center St
General Information
Standard status
Active
Size
47,000 SF
Elevators
Yes
Property subtype
Vacant-User
Net Operating Income
$100,000
Site & Location
Highway Access
Yes
Public Transit
Yes
Warehouse & Industrial
Warehouse Space
20,000 SF
Office Build-Out
20,000 SF
Dock-High Doors
2
Additional Details
Gross Income
$180,000
Amenities
Break Room
Conference Room
2 Dock-High Doors
Prime Downtown Bensenville Location Adjacent to the Metra Station and Village Hall
Minutes from Interstate 90, Interstate 290, Route 83, and O'Hare International Airport
Entire Second Floor and Finished Basement Available for Lease Upside
Passenger and Freight Elevator
Building Details
Building Size
47,000 SF
Year Built
1950
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
(630) 570-2242
Listed By:
Kellan Gilmartin · License #License(s): IL: 475.208202
(630) 570-2242
Source:
Marcusmillichap
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 21 at 6:43AM
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 Kellan Gilmartin
Investment Insights
Based on property information with market context.
Located at 14 Center St in Bensenville, this 47,000-square-foot flex property combines office, manufacturing, warehouse, and finished basement space within a 1950 building. The first floor contains approximately 20,000 square feet for manufacturing and warehouse operations, while the second floor provides approximately 20,000 square feet of renovated office space. A finished 7,000-square-foot basement adds further usable area.
The upper level includes more than 26 private offices, two break rooms, and multiple conference rooms. Passenger and freight elevators serve all levels, and the property includes two dock-high doors. Four tenants currently occupy portions of the building on month-to-month leases, while the second floor and finished basement are available for lease-up. Access is provided to Interstate 90, Interstate 290, Route 83, and O'Hare International Airport.
The upper level includes more than 26 private offices, two break rooms, and multiple conference rooms. Passenger and freight elevators serve all levels, and the property includes two dock-high doors. Four tenants currently occupy portions of the building on month-to-month leases, while the second floor and finished basement are available for lease-up. Access is provided to Interstate 90, Interstate 290, Route 83, and O'Hare International Airport.
Key Highlights
- 47,000‑square‑foot building completed in 1950
- Approximately 20,000 square feet of second‑floor office space
- Approximately 20,000 square feet of first‑floor manufacturing and warehouse area
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
$202,319
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
9.20%
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%
$4,046,380
$4.0M
Cap Rate 7%
$2,890,271
$2.9M
Cap Rate 9%
$2,247,989
$2.2M
Market Conditions
NOI Build-Up for 47,000 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
$304.6K $6.48/SF
− Vacancy
−$15.5K −$0.33/SF
EGI
$289.0K $6.15/SF
− OpEx
−$86.7K −$1.84/SF
NOI
$202.3K $4.30/SF
Area
DuPage County, IL
Vacancy
5.10%
Lease Rate
$6.48 /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%
$4,046,380
Cap Rate 7%
$2,890,271
Cap Rate 9%
$2,247,989
Alternative Uses
Best Use
Office B
$9.26M
$8.10M – $10.80M
NOI $648,053 @ 7.0% cap · market cap 29.46%
Second Best
Flex RnD
$7.07M
$6.19M – $8.25M
NOI $494,910 @ 7.0% cap · market cap 22.50%
Theoretical Best
Office A
$16.23M
$14.20M – $18.93M
NOI $1,135,887 @ 7.0% cap · market cap 51.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Dock-high doors
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
724
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60106, IL
20,562
Population
7,704
Households
2.7
Avg Household Size
38
Median Age
21%
College-Educated
81%
High-School Grad
9.3 sq mi
ZIP Area
2,211
Density / Sq Mi
$78,027
Median Household Income
$43,352
Median Earnings
$1,379
Median Rent
$265,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Flex space - Mixed office, manufacturing, and warehouse areas support varied commercial occupancy across the building.
Where is this flex space located?
The property is located at 14 Center St Bensenville, 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: 47,000‑square‑foot building completed in 1950; Approximately 20,000 square feet of second‑floor office space; Approximately 20,000 square feet of first‑floor manufacturing and warehouse area
