Two-Story Office Building in Orland
For Sale
Contact for pricing
14489s John Humphrey Dr, Orland Park, IL 60462
Two-story office building with investment opportunity in Orland Park.
Property Size4,899 SF
Price / SF$204.12
Days on Market206
Property Features for 14489s John Humphrey Dr
General Information
Standard status
Active
Size
4,899 SF
Property subtype
Office
Lease Type
Modified Gross
Investment Type
Owner/User
Building Details
Year Built
2008
Tenancy
Multi
Listing Agency:
Olivieri Real Estate LLC
Listed By:
Jackie Montvidas · License #IL 705768
Source:
Crexi
Added: Jan 26
Changed: Aug 10
Last Checked: Aug 19 at 3:27PM
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 Olivieri Real Estate LLC
Investment Insights
Based on property information with market context.
This two-story office building offers 4,899 square feet of office or medical space for sale in Orland Park. It presents an opportunity for an owner-user to occupy 1,959 square feet while generating rental income from the remaining 2,940 square feet, which is currently leased. The property is well-maintained and features ample parking. Large windows surround the entire building, providing natural light throughout the interior. Suite 200, which is vacant, features a high-end build-out with quality finishes, solid mahogany doors, wainscoting, and double glass entry doors. The office condo comprises three suites under one PIN. Suite 200 offers 1,959 square feet and is currently vacant. Suites 201 and 202, totaling 1,116 square feet and 1,824 square feet respectively, are leased to a single tenant with a lease extending through October 15, 2028.
Key Highlights
- Ideal owner‑user investment: Occupy 1,959 SF and collect rental income from 2,940 SF of leased space.
- Leased suites provide immediate income: Suites 201 & 202 are leased through 10/15/2028.
- High‑end vacant suite: Suite 200 (1,959 SF) features quality finishes, mahogany doors, wainscoting, and double glass entry doors.
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
$67,549
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
6.75%
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%
$1,350,980
$1.4M
Cap Rate 7%
$964,986
$965.0K
Cap Rate 9%
$750,544
$750.5K
Market Conditions
NOI Build-Up for 4,899 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
$119.9K $24.48/SF
− Vacancy
−$29.9K −$6.10/SF
EGI
$90.1K $18.38/SF
− OpEx
−$22.5K −$4.60/SF
NOI
$67.5K $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%
$1,350,980
Cap Rate 7%
$964,986
Cap Rate 9%
$750,544
Alternative Uses
Best Use
Office B
$965.0K
$844.4K – $1.13M
NOI $67,549 @ 7.0% cap · market cap 6.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,398 @ 7.0% cap · market cap 11.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,761
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with investment opportunity in Orland Park.
Where is this office building located?
The property is located at 14489s John Humphrey Dr Orland Park, IL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Ideal owner‑user investment: Occupy 1,959 SF and collect rental income from 2,940 SF of leased space.; Leased suites provide immediate income: Suites 201 & 202 are leased through 10/15/2028.; High‑end vacant suite: Suite 200 (1,959 SF) features quality finishes, mahogany doors, wainscoting, and double glass entry doors.
