Office Unit with Existing
New
For Sale
$300,000
1770 Park Street, Naperville, IL 60563
Commercial Sale, Naperville, IL
Property Size1,499 SF
Lot Size0.03 Acres
Price / SF$200.13
Days on Market2
Property Features for 1770 Park Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
OFFIC
Directions
Diehl to Park Street , south to 1770
Subdivision
Naperville
Standard status
Active
APN
0701414018
Lot size
0.03 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3964
Utilities
Cooling system
Central Air
Building Details
Year built
1999
Floors in Building
2
Number of units
1
Flooring type
Carpet
Building materials
Brick
Listing Agency:
RE/MAX Professionals Select · RE/MAX International
(630) 904-6400
Listed By:
Alexa Wagner · License #475124872
(630) 460-6256
Added: Sep 16
Last Checked: Sep 17 at 9:06PM
MLS# 12754025
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.
Investment Insights
Based on property information with market context.
Suite 202 is an approximately 1,499 SF professional office condominium within Park Place Office Condominiums. The interior includes a central work area, three private offices, a meeting room, reception and waiting areas, kitchen, and storage. Two offices have window walls, while the kitchenette provides granite counters, a sink, and upper and lower cabinetry. Fresh paint was completed in 2024, and the property includes central air, carpeted floors, and brick construction.
An existing tenant occupies the suite through October 2027. The tenant pays its own internet and janitorial service, with CAM and taxes included in the rent. The property has a large parking lot with plentiful parking and access to I-88, Route 59, Downtown Naperville, restaurants, and surrounding business amenities. The office condominium was built in 1999 and is zoned OFFIC.
An existing tenant occupies the suite through October 2027. The tenant pays its own internet and janitorial service, with CAM and taxes included in the rent. The property has a large parking lot with plentiful parking and access to I-88, Route 59, Downtown Naperville, restaurants, and surrounding business amenities. The office condominium was built in 1999 and is zoned OFFIC.
Key Highlights
- Approximately 1,499 SF professional office condominium
- Existing tenant in place through Oct 2027
- Three private offices, meeting room, reception, waiting areas, kitchen, and storage
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
$17,723
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
5.91%
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%
$354,460
$354.5K
Cap Rate 7%
$253,186
$253.2K
Cap Rate 9%
$196,922
$196.9K
Market Conditions
NOI Build-Up for 1,499 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
$31.3K $20.88/SF
− Vacancy
−$7.7K −$5.12/SF
EGI
$23.6K $15.76/SF
− OpEx
−$5.9K −$3.94/SF
NOI
$17.7K $11.82/SF
Area
Naperville, IL
Vacancy
24.50%
Lease Rate
$20.88 /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%
$354,460
Cap Rate 7%
$253,186
Cap Rate 9%
$196,922
Alternative Uses
Best Use
Office B
$253.2K
$221.5K – $295.4K
NOI $17,723 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$338.4K
$296.1K – $394.8K
NOI $23,685 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,423
Businesses Nearby
Explore this area
Business Placement
Demographics for 60563, IL
37,997
Population
16,911
Households
2.2
Avg Household Size
38
Median Age
66%
College-Educated
96%
High-School Grad
14.6 sq mi
ZIP Area
2,603
Density / Sq Mi
$106,207
Median Household Income
$71,782
Median Earnings
$1,786
Median Rent
$422,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 units - Professional office condominium with a flexible layout, private offices, meeting space, and dedicated reception areas.
Where is this office units located?
The property is located at 1770 Park Street Naperville, IL.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Approximately 1,499 SF professional office condominium; Existing tenant in place through Oct 2027; Three private offices, meeting room, reception, waiting areas, kitchen, and storage
