Renovated Standalone Office
For Sale
Contact for pricing
17W601 14th Street, Oakbrook Terrace, IL 60181
Fully renovated professional workspace with private offices, conference rooms, and dedicated parking.
Property Size4,159 SF
Price / SF$276.27
Days on Market182
Property Features for 17W601 14th Street
General Information
Standard status
Active
Size
4,159 SF
Total Parking Spaces
14
Property subtype
Office
Additional Details
Highway Access
Yes
Amenities
designer finishes
statement living wall
glass-walled conference rooms
private executive offices
gourmet-style kitchenette
updated restrooms
professional landscaping
Building Details
Year Built
1974
Buildings
1
Building Size
4,159 SF
Listing Agency:
Real Broker LLC
(773) 992-9619
Listed By:
Stephen Porter · License #471018397
Source:
Crexi
Added: Mar 3
Changed: Aug 31
Last Checked: Aug 31 at 5:04AM
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 Real Broker LLC
Investment Insights
Based on property information with market context.
This standalone office building provides 4,159 square feet of renovated workspace in a professional setting. The interior includes a contemporary reception area, glass-enclosed conference rooms, multiple private executive offices, a kitchenette with bar seating and appliances, and updated restrooms. Exterior landscaping complements the refreshed building design.
Fourteen dedicated parking spaces serve the property exclusively. The building is positioned in Oakbrook Terrace’s business corridor with access to I-88, I-355, and I-294. Oakbrook Center, Drury Lane Theatre, and dining options are nearby, while O’Hare and Midway airports are accessible from the property.
Fourteen dedicated parking spaces serve the property exclusively. The building is positioned in Oakbrook Terrace’s business corridor with access to I-88, I-355, and I-294. Oakbrook Center, Drury Lane Theatre, and dining options are nearby, while O’Hare and Midway airports are accessible from the property.
Key Highlights
- 4,159 SF standalone office building
- Fully renovated interior and exterior improvements
- Multiple private executive offices and glass‑enclosed conference rooms
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
$57,346
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
4.99%
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%
$1,146,920
$1.1M
Cap Rate 7%
$819,229
$819.2K
Cap Rate 9%
$637,178
$637.2K
Market Conditions
NOI Build-Up for 4,159 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
$101.8K $24.48/SF
− Vacancy
−$25.4K −$6.10/SF
EGI
$76.5K $18.38/SF
− OpEx
−$19.1K −$4.60/SF
NOI
$57.3K $13.79/SF
Area
DuPage 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%
$1,146,920
Cap Rate 7%
$819,229
Cap Rate 9%
$637,178
Alternative Uses
Best Use
Office B
$819.2K
$716.8K – $955.8K
NOI $57,346 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,514 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,676
Businesses Nearby
Explore this area
Business Placement
Demographics for 60181, IL
29,821
Population
12,485
Households
2.4
Avg Household Size
38
Median Age
38%
College-Educated
92%
High-School Grad
6.5 sq mi
ZIP Area
4,588
Density / Sq Mi
$90,375
Median Household Income
$47,191
Median Earnings
$1,619
Median Rent
$294,700
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 - Fully renovated professional workspace with private offices, conference rooms, and dedicated parking.
Where is this office building located?
The property is located at 17W601 14th Street Oakbrook Terrace, IL.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: 4,159 SF standalone office building; Fully renovated interior and exterior improvements; Multiple private executive offices and glass‑enclosed conference rooms
