Mokena Commercial Property For
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19150 S 88th Ave, Mokena, IL 60448
High-visibility commercial property in Mokena, Illinois, near major traffic routes.
Property Size7,407 SF
Price / SF$425.27
Days on Market273
Property Features for 19150 S 88th Ave
General Information
Standard status
Active
Size
7,407 SF
Total Parking Spaces
47
Property subtype
Office
Zoning
C-1A: General Commercial District
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$259,393
Building Details
Year Built
2006
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
SRS Real Estate Partners Newport Beach
(973) 632-1386
Listed By:
Patrick R. Luther, CCIM · License #01912215
Source:
Crexi
Added: Nov 11, 2025
Changed: Aug 9
Last Checked: Aug 10 at 12:51PM
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 SRS Real Estate Partners Newport Beach
Investment Insights
Based on property information with market context.
Located on S. 88th Ave with a traffic volume of 6,900 vehicles per day, between 192nd St and W. 191st St, which sees 15,500 vehicles per day, this property benefits from significant visibility and accessibility. It is situated minutes from US-45, with 49,800 vehicles per day, and I-80, with 102,900 vehicles per day. The surrounding area includes established residential neighborhoods and several schools, contributing to a consistent demand for therapy services. The property is near Brookside Marketplace, a Target-anchored center with over 5.9 million annual visits, ranking in the 94th percentile in Illinois. Nearby centers such as Mokena Town Square and Hickory Creek Marketplace further enhance foot traffic and long-term value. Located within the Chicago MSA, which has a population of 9.3 million and is home to over 30 Fortune 500 companies, the property benefits from strong demographics, infrastructure, and real estate fundamentals. The 5-mile trade area includes over 152,100 residents and 71,900 employees, with average household incomes exceeding $140,000. The property size is 7,407 square feet.
Key Highlights
- High‑traffic location with excellent visibility: S. 88th Ave (6,900 VPD) near 192nd St and W. 191st St (15,500 VPD), and close to US‑45 (49,800 VPD) and I‑80 (102,900 VPD).
- Located near Brookside Marketplace (Target‑anchored center with 5.9M+ annual visits) and other shopping centers, enhancing foot traffic.
- Strong demographics in the 5‑mile trade area: 152,100+ residents, 71,900 employees, and average household incomes exceeding $140,000.
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
$88,982
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
2.82%
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%
$1,779,640
$1.8M
Cap Rate 7%
$1,271,171
$1.3M
Cap Rate 9%
$988,689
$988.7K
Market Conditions
NOI Build-Up for 7,407 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
$167.1K $22.56/SF
− Vacancy
−$48.5K −$6.54/SF
EGI
$118.6K $16.02/SF
− OpEx
−$29.7K −$4.00/SF
NOI
$89.0K $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 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%
$1,779,640
Cap Rate 7%
$1,271,171
Cap Rate 9%
$988,689
Alternative Uses
Best Use
Office B
$1.27M
$1.11M – $1.48M
NOI $88,982 @ 7.0% cap · market cap 2.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,594 @ 7.0% cap · market cap 3.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
585
Businesses Nearby
Explore this area
Business Placement
Demographics for 60448, IL
25,512
Population
9,196
Households
2.8
Avg Household Size
43
Median Age
43%
College-Educated
98%
High-School Grad
18.3 sq mi
ZIP Area
1,394
Density / Sq Mi
$126,483
Median Household Income
$56,490
Median Earnings
$1,400
Median Rent
$369,700
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 - High-visibility commercial property in Mokena, Illinois, near major traffic routes.
Where is this office building located?
The property is located at 19150 S 88th Ave Mokena, IL.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: High‑traffic location with excellent visibility: S. 88th Ave (6,900 VPD) near 192nd St and W. 191st St (15,500 VPD), and close to US‑45 (49,800 VPD) and I‑80 (102,900 VPD).; Located near Brookside Marketplace (Target‑anchored center with 5.9M+ annual visits) and other shopping centers, enhancing foot traffic.; Strong demographics in the 5‑mile trade area: 152,100+ residents, 71,900 employees, and average household incomes exceeding $140,000.
