Wedding Venue with
For Sale
$1,995,000
15165 Quigley Road, Sycamore, IL 60178
Event facilities, a chapel, and an on-site residence create a versatile wedding venue setting.
Property Size12,131 SF
Lot Size7.00 Acres
Days on Market290
Property Features for 15165 Quigley Road
General Information
Standard status
Active
Size
12,131 SF
Lot size
7.00 Acres
Property subtype
Business Opportunity
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$999,999
Amenities
gazebos
pergola
brick paver walkways
patios
wildflower prairie
covered entrance
bar
dance floor
stage
accessible restrooms
catering prep and serving rooms
laundry
barn
chapel
cottage
sound shed
garage
screened-in front porch
back deck
Building Details
Building Size
12,131 SF
Stories
3
Listing Agency:
Coldwell Banker Real Estate Group
(815) 756-2557
Listed By:
Kathleen Hammes · License #475157131
(815) 756-2557
Source:
Midwestrealestate
Added: Nov 3, 2025
Changed: Aug 13
Last Checked: Aug 20 at 1:52PM
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 Coldwell Banker Real Estate Group
Investment Insights
Based on property information with market context.
Positioned on approximately 7 acres at 15165 Quigley Road, this wedding venue includes a banquet hall, chapel, cottage, sound shed, paved lighted parking, and a 2.5-car garage. The hall features a covered entry, bar, dance floor, stage, accessible restrooms, catering preparation and serving areas, laundry, and storage. A two-story barn, gazebos, pergola, brick walkways, patios, and landscaped grounds add to the property's event-oriented layout.
The chapel accommodates up to 100 guests. A 3,200+ square foot residence provides four bedrooms and 4.5 baths across three stories, with formal living and dining rooms, a kitchen with island and walk-in pantry, a second eating area, sunken family room with vaulted ceiling and gas fireplace, office, screened front porch, back deck, and extensive storage. The property is located in Sycamore, IL 60178.
The chapel accommodates up to 100 guests. A 3,200+ square foot residence provides four bedrooms and 4.5 baths across three stories, with formal living and dining rooms, a kitchen with island and walk-in pantry, a second eating area, sunken family room with vaulted ceiling and gas fireplace, office, screened front porch, back deck, and extensive storage. The property is located in Sycamore, IL 60178.
Key Highlights
- Approximately 7 acres with landscaped grounds, gazebos, pergola, patios, and brick paver walkways
- Banquet hall includes bar, dance floor, stage, accessible restrooms, catering areas, laundry, and storage
- Chapel seats up to 100 guests
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
$90,755
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
4.55%
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%
$1,815,100
$1.8M
Cap Rate 7%
$1,296,500
$1.3M
Cap Rate 9%
$1,008,389
$1.0M
Market Conditions
NOI Build-Up for 12,131 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
$218.4K $18.00/SF
− Vacancy
−$27.3K −$2.25/SF
EGI
$191.1K $15.75/SF
− OpEx
−$100.3K −$8.27/SF
NOI
$90.8K $7.48/SF
Area
DeKalb County, IL
Vacancy
12.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
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%
$1,815,100
Cap Rate 7%
$1,296,500
Cap Rate 9%
$1,008,389
Alternative Uses
Best Use
Mixed Use
$2.92M
$2.56M – $3.41M
NOI $204,711 @ 7.0% cap · market cap 10.26%
Second Best
Hotel Hospitality
$1.30M
$1.13M – $1.51M
NOI $90,755 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$4.19M
$3.66M – $4.89M
NOI $293,180 @ 7.0% cap · market cap 14.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 60178, IL
22,386
Population
9,151
Households
2.4
Avg Household Size
39
Median Age
44%
College-Educated
96%
High-School Grad
67.2 sq mi
ZIP Area
333
Density / Sq Mi
$88,314
Median Household Income
$47,157
Median Earnings
$1,084
Median Rent
$262,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Wedding venue - Event facilities, a chapel, and an on-site residence create a versatile wedding venue setting.
Where is this wedding venue located?
The property is located at 15165 Quigley Road Sycamore, IL.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Approximately 7 acres with landscaped grounds, gazebos, pergola, patios, and brick paver walkways; Banquet hall includes bar, dance floor, stage, accessible restrooms, catering areas, laundry, and storage; Chapel seats up to 100 guests
