Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downers Grove Commercial Land Title is generated by Realmo AI

    1406 Ogden Avenue, Downers Grove, IL 60515

    View on Map
    Claim this Listing
    For Sale
    $2,500,000

    COMMERCIAL - Downers Grove, IL

    Lot size:
    1.00 Acres
    Added:
    May 14, 2026
    Days on Market:
    9
    Last Refresh:
    May 22 at 12:06 am

    Property Features for 1406 Ogden Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    COMMR
    Standard status
    Active
    APN
    0906402011
    Lot size
    1.00 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    27000

    Building Details

    Year built
    1968
    Floors in Building
    1

    We can help!

    Listing Contact
    Mark Ahmad
    Mark Ahmad

    Listing agent Mark Ahmad License #471007186

    Listing office Century 21 Circle 3372 W Devon Ave, Chicago, IL

    Listing date May 14, 2026

    MLS# 12648233

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    This commercial land is located in Downers Grove, Illinois. The property, zoned COMMR, has a lot size of 1.0044 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    G&M AUTO CARE Auto Repair Shop

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Downers Grove
    County
    DuPage
    State
    Illinois
    Longitude
    -88.0199704
    Latitude
    41.8084814

    Nearby Similar for Sale

    • $1,200,000
      11,886 SF

      Downers Grove Office Building For Sale

      Professionally maintained office building with excellent potential in Downers Grove.
      2051 Ogden Avenue, Downers Grove, IL 60515
      View Details
    • $2,500,000
      12,000 SF

      Downers Grove Commercial Property

      Multiple-use property in a high-traffic retail corridor.
      1340 Ogden Avenue, Downers Grove, IL 60515
      View Details
    • $614,900

      Downers Grove Commercial Building

      Well-maintained commercial building suitable for various businesses.
      425 Ogden Avenue, Downers Grove, IL 60515
      View Details
    • $4,900,000

      Ogden Avenue Automotive Property

      Automotive property with frontage on Ogden Avenue in Downers Grove.
      1804 Ogden Avenue, Downers Grove, IL 60515
      View Details
    • $279,900

      Downers Grove Office Condo

      Exceptional office condo in a prime Downers Grove location.
      1557 Warren Avenue, Downers Grove, IL 60515
      View Details
    • $3,995,000
      3,948 SF

      New Construction Panera Restaurant

      Single-tenant Panera restaurant in Downers Grove, Chicago MSA.
      7361 Lemont Rd | Downers Grove, IL 60516
      View Details
    • $999,000

      Fully Equipped Dental Suite

      Professional office setting with 4 operatories and ample parking.
      3000 Woodcreek Dr Ste 130, Downers Grove, IL 60515
      View Details
    • $50,000

      Downers Grove Land For Sale

      Commercial land available in Downers Grove, Illinois.
      5801 Springside Avenue, Downers Grove, IL 60516
      View Details
    • Contact for pricing
      12,431 SF

      Downers Grove Industrial Building For Sale

      12,431 SF industrial building in Downers Grove, Illinois.
      4341 Middaugh Avenue Downers, Grove, IL 60515
      View Details
    • $10,000,000
      14,000 SF

      Downers Grove Medical Office Building

      Fully leased medical office building in Downers Grove, Illinois.
      4333 Main St, Downers Grove, IL 60515
      View Details
    • $999,000
      2,000 SF

      Fully Equipped Dental Suite

      Prime dental suite with 4 operatories in Downers Grove.
      3000 Woodcreek Dr Unit 130, Downers Grove, IL
      View Details
    • $1,257,560

      Mixed-Use Investment Property For Sale

      Stable mixed-use investment with national credit tenant and residential units.
      425 Burlington Ave, Downers Grove, IL 60515
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land available in Downers Grove, Illinois.
    Where is this commercial land located?
    The property is located at 1406 Ogden Avenue Downers Grove, IL.
    What is the asking price?
    The asking price for this property is $2,500,000.
    (312) 513-4490
    We can help!
    Listing Contact
    Mark Ahmad
    Mark Ahmad
    Real Estate License ID: 471007186
    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

    Thank You for Inquiry
    1406 Ogden Avenue, Downers Grove, IL 60515
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!