Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1400 16th St Oak Brook, IL 60523

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Furnished office space in Class A building near Oakbrook Center.

    Type:Office
    Property size:
    22,678 SF
    Added:
    Jun 21, 2023
    Days on Market:
    1040
    Last Refresh:
    Mar 17 at 1:19 pm

    Property Features for 1400 16th St

    General Information

    Standard status
    Active
    Size
    22,678 SF
    Property subtype
    Office

    Building Details

    Year Built
    1991

    Spaces For Lease

    at 1400 16th St Contact us

    We can help!

    Listing Contact
    Elizabeth Kostelny

    Listing agent Elizabeth Kostelny License #IL

    Listing office INSITE REAL ESTATE

    Listing date Jun 21, 2023

    Source Crexi

    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 INSITE REAL ESTATE

    Overview

    Class A Office Space Available

    Available for lease is 22,678 RSF of office space situated on the second floor of a Class A building. A portion of this space, measuring 16,038 RSF, comes fully furnished. The building is conveniently located approximately 3 minutes from the interchange of Route 83 and I-88. The property is owner-occupied and benefits from the presence of an on-site engineer and property manager. Building amenities include 24-hour key-card access, a 100-person conference facility, ample storage space, a dining room equipped with vending machines, and a recently renovated fitness center. The location is adjacent to Oakbrook Center Regional Mall. Parking is provided with 296 spaces available, and reserved parking options are also offered.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Fifth Third Mortgage ... Loan Service Fifth Third Securities ... Financial Advisor Fifth Third Private ... Financial Advisor Fifth Third Private ... Financial Advisor Rana Meal Solutions Food Processing Plant

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Law Firm Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oak Brook
    County
    DuPage
    State
    Illinois
    Longitude
    -87.9541475
    Latitude
    41.8548181

    Nearby Similar for Lease

    • $17 SF/Yr

      Modernist Office Building in Oak Brook

      Unique office building with prominent signage and flexible floorplan.
      2200-2222 Kensington Court, Oak Brook, IL 60523
      View Details
    • $15 SF/Yr

      Class A Office Space Available

      Two-building Class A property in Oak Brook for rent.
      1420 Kensington Rd, Oak Brook, IL
      View Details
    • Sponsored
      Contact for pricing

      IL, Oak Brook - Oak Brook Pointe

      700 Commerce Dr Oak Brk, Unit Illinois United States of America 60523, Oak Brook, IL 60523
      View Details
    • $22 SF/Yr

      Oak Brook Office Technology Campus

      Office space for rent in the heart of Oak Brook.
      810 Jorie Boulevard, Oak Brook, IL, 60523
      View Details
    • Contact for pricing

      Regency Towers

      1415 22 St Tower Fl Oak Brk, Oak Brook, IL 60523
      View Details
    • $16 SF/Yr

      Oak Brook Office Space Available

      Office space for rent in Oak Brook, Illinois.
      1520 Kensington Rd, Oak Brook, IL
      View Details
    • $19 SF/Yr

      Oak Brook Office Space Available

      Office space available for lease in Oak Brook, Illinois.
      915 Harger Rd., Oak Brook, IL 60523
      View Details
    • $23 SF/Yr

      Updated Office Space Near Malls

      Contemporary office space with updated amenities and convenient highway access.
      2625 Butterfield Road, Oak Brook, IL, 60523
      View Details
    • Contact for pricing

      Class A Medical Office Space

      New build-to-suit medical office in Oak Brook, Illinois.
      1800 York Road, Oak Brook, IL 60523
      View Details
    • $24 SF/Yr

      Premier Office and Retail Space

      Office and retail space with many amenities and convenient location.
      1211 W 22nd Street, Oak Brook, IL, 60523
      View Details
    • Contact for pricing

      Three-Story Office Building For Rent

      Three-story office building with open floor plans available for rent.
      2100 Swift Drive, Oak Brook, IL 60523
      View Details
    • $25 SF/Yr

      Office Space in Oak Brook

      Office space for rent in Oak Brook Shopping Center.
      1200 Harger Road, Oak Brook, IL, 60523
      View Details

    FAQs

    What type of property is this?
    Office building - Furnished office space in Class A building near Oakbrook Center.
    Where is this office building located?
    The property is located at 1400 16th St Oak Brook, IL.
    What are key features of this property?
    This property features: 16,038 RSF of fully furnished office space available.; Located just 3 minutes from Route 83 and I‑88 interchange.; Class A building with on‑site engineer and property manager.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Elizabeth Kostelny
    Real Estate License ID: IL
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!