Professional Office
New
For Sale
$1,050,000
1770 Park St Unit 200, Naperville, IL 60563
Flexible office condominium with private offices, meeting rooms, storage, kitchen facilities, and surface parking.
Property Size7,876 SF
Price / SF$133.32
Days on Market4
Property Features for 1770 Park St Unit 200
General Information
Standard status
Active
Size
7,876 SF
Building Details
Year Built
2000
Listing Agency:
RE/MAX Professionals Select
Listed By:
Alexa Wagner · License #475124872
(630) 460-6256
Source:
Theluxliferealty
Added: Sep 19
Last Checked: Sep 21 at 1:33PM
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 Professionals Select
Investment Insights
Based on property information with market context.
This 7,876-square-foot office condominium, built in 2000, provides a substantial professional workspace with a mix of private offices, administrative areas, collaborative work zones, conference rooms, and storage. The layout includes approximately 13–15 private offices, meeting areas including one measuring approximately 629 square feet, a reception and foyer, a full bath, and dedicated copy and data rooms. A coded double-door entry leads into the suite, while the kitchen includes stainless appliances, a dishwasher, disposal, refrigerator, granite surfaces, and LVP flooring. HVAC systems were replaced in 2016.
The property is located at 1770 Park St Unit 200 in Naperville, with convenient access to I-88, Route 59, Downtown Naperville, restaurants, and area amenities. Surface parking is available for employees and visitors. The office configuration supports established business operations, professional practices, and corporate office use without relying on a single standardized floor plan.
The property is located at 1770 Park St Unit 200 in Naperville, with convenient access to I-88, Route 59, Downtown Naperville, restaurants, and area amenities. Surface parking is available for employees and visitors. The office configuration supports established business operations, professional practices, and corporate office use without relying on a single standardized floor plan.
Key Highlights
- 7,876 SF office condominium at 1770 Park St Unit 200
- Approximately 13–15 private offices
- Meeting area of approximately 629 SF
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
$93,120
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
8.87%
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%
$1,862,400
$1.9M
Cap Rate 7%
$1,330,286
$1.3M
Cap Rate 9%
$1,034,667
$1.0M
Market Conditions
NOI Build-Up for 7,876 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
$164.5K $20.88/SF
− Vacancy
−$40.3K −$5.12/SF
EGI
$124.2K $15.76/SF
− OpEx
−$31.0K −$3.94/SF
NOI
$93.1K $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%
$1,862,400
Cap Rate 7%
$1,330,286
Cap Rate 9%
$1,034,667
Alternative Uses
Best Use
Office B
$1.33M
$1.16M – $1.55M
NOI $93,120 @ 7.0% cap · market cap 8.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.78M
$1.56M – $2.07M
NOI $124,446 @ 7.0% cap · market cap 11.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
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
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Flexible office condominium with private offices, meeting rooms, storage, kitchen facilities, and surface parking.
Where is this office units located?
The property is located at 1770 Park St Unit 200 Naperville, IL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 7,876 SF office condominium at 1770 Park St Unit 200; Approximately 13–15 private offices; Meeting area of approximately 629 SF
