Updated Log Cabin Office
For Sale
$459,999
16143 South Lincoln Hwy, Plainfield, IL 60544
Two-building office property with private parking, refreshed systems, and distinctive log cabin-style construction.
Property Size2,846 SF
Price / SF$161.63
Days on Market50
Property Features for 16143 South Lincoln Hwy
General Information
Standard status
Active
Size
2,846 SF
Additional Details
Office Units
10
Building Details
Year Built
1939
Buildings
2
Construction
log cabin
Listing Agency:
RE/MAX Ultimate Professionals
Listed By:
Jose Mendez-Alvarado · License #475188407
(630) 559-6688
Source:
Amyboston.realtopiare
Added: Sep 10
Changed: Oct 25
Last Checked: Oct 7 at 4:35PM
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 RE/MAX Ultimate Professionals
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Investment Insights
Based on property information with market context.
This office property includes two separate buildings totaling 2,846 square feet of leasable space. The main structure has updated electrical service, a newer HVAC system, replacement windows, and refreshed interior and exterior paint. Its cleaned basement provides dry storage and has no reported history of flooding. The rear building is separately metered and includes its own HVAC system, new flooring, fresh paint, and additional storage. Together, the buildings provide approximately 10 private offices with capacity for multiple desks in each space.
The property at 16143 South Lincoln Hwy in Plainfield, IL includes a private parking lot and a seal-coated driveway. Exterior work includes landscaping improvements, tree trimming, fresh mulch, cleaned and painted walls, and cleared drainage. A long-term tenant occupies the property under a 1-year lease, providing existing income while preserving the office configuration for professional or creative use.
The property at 16143 South Lincoln Hwy in Plainfield, IL includes a private parking lot and a seal-coated driveway. Exterior work includes landscaping improvements, tree trimming, fresh mulch, cleaned and painted walls, and cleared drainage. A long-term tenant occupies the property under a 1-year lease, providing existing income while preserving the office configuration for professional or creative use.
Key Highlights
- 2,846 SF of leasable office space across two buildings
- Approximately 10 private offices with room for multiple desks per office
- Main building includes updated electrical, HVAC, windows, and interior and exterior paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,190
Cap Rate
7.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$683,800
$683.8K
Cap Rate 7%
$488,429
$488.4K
Cap Rate 9%
$379,889
$379.9K
Market Conditions
NOI Build-Up for 2,846 SF
Gross rent
$64.2K $22.56/SF
− Vacancy
−$18.6K −$6.54/SF
EGI
$45.6K $16.02/SF
− OpEx
−$11.4K −$4.00/SF
NOI
$34.2K $12.01/SF
Area
Will County, IL
Vacancy
29.00%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$683,800
Cap Rate 7%
$488,429
Cap Rate 9%
$379,889
Alternative Uses
Best Use
Office B
$488.4K
$427.4K – $569.8K
NOI $34,190 @ 7.0% cap · market cap 7.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$645.5K
$564.8K – $753.1K
NOI $45,183 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
10
Office units
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
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Business Placement
Demographics for 60544, IL
27,680
Population
10,553
Households
2.6
Avg Household Size
41
Median Age
43%
College-Educated
96%
High-School Grad
24.2 sq mi
ZIP Area
1,144
Density / Sq Mi
$108,447
Median Household Income
$59,601
Median Earnings
$1,809
Median Rent
$311,700
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Two-building office property with private parking, refreshed systems, and distinctive log cabin-style construction.
Where is this office building located?
The property is located at 16143 South Lincoln Hwy Plainfield, IL.
What is the asking price?
The asking price for this property is $459,999.
What are key features of this property?
This property features: 2,846 SF of leasable office space across two buildings; Approximately 10 private offices with room for multiple desks per office; Main building includes updated electrical, HVAC, windows, and interior and exterior paint
