West Aurora Office
For Sale
Contact for pricing
1961 West Downer Place, Aurora, IL 60505
Office building for sale on Aurora’s west side near Orchard Rd and Galena Blvd.
Property Size5,200 SF
Price / SF$160.58
Days on Market120
Property Features for 1961 West Downer Place
General Information
Standard status
Active
Size
5,200 SF
Class
B
Property subtype
Office
Zoning
O - Office
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Building Details
Year Built
1998
Tenancy
Single
Listing Agency:
Dolan and Murphy
Listed By:
Daniel J. Dolan · License #IL 475120834
(630) 801-8800
Source:
Crexi
Added: May 20
Changed: Sep 1
Last Checked: Sep 15 at 6:14AM
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 Dolan and Murphy
Investment Insights
Based on property information with market context.
This office building is offered for sale and is located on Aurora’s west side. The property is positioned near the intersection of Orchard Rd and Galena Blvd, providing convenient access to major east-west and north-south routes.
The site is approximately 2 miles south of the Orchard Road and I-88 interchange. The property is listed for $835,000.
The site is approximately 2 miles south of the Orchard Road and I-88 interchange. The property is listed for $835,000.
Key Highlights
- Office building built in 1998
- Located on Aurora’s west side near Orchard Rd and Galena Blvd
- About 2 miles south of the Orchard Rd and I‑88 interchange
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
$76,752
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
9.19%
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%
$1,535,040
$1.5M
Cap Rate 7%
$1,096,457
$1.1M
Cap Rate 9%
$852,800
$852.8K
Market Conditions
NOI Build-Up for 5,200 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
$124.8K $24.00/SF
− Vacancy
−$22.5K −$4.32/SF
EGI
$102.3K $19.68/SF
− OpEx
−$25.6K −$4.92/SF
NOI
$76.8K $14.76/SF
Area
Aurora, IL
Vacancy
18.00%
Lease Rate
$24.00 /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%
$1,535,040
Cap Rate 7%
$1,096,457
Cap Rate 9%
$852,800
Alternative Uses
Best Use
Office B
$1.10M
$959.4K – $1.28M
NOI $76,752 @ 7.0% cap · market cap 9.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,208 @ 7.0% cap · market cap 12.48%
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
692
Businesses Nearby
Explore this area
Business Placement
Demographics for 60505, IL
57,906
Population
18,681
Households
3.1
Avg Household Size
32
Median Age
13%
College-Educated
64%
High-School Grad
10.1 sq mi
ZIP Area
5,733
Density / Sq Mi
$70,306
Median Household Income
$33,912
Median Earnings
$1,230
Median Rent
$192,500
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 - Office building for sale on Aurora’s west side near Orchard Rd and Galena Blvd.
Where is this office building located?
The property is located at 1961 West Downer Place Aurora, IL.
What is the asking price?
The asking price for this property is $835,000.
What are key features of this property?
This property features: Office building built in 1998; Located on Aurora’s west side near Orchard Rd and Galena Blvd; About 2 miles south of the Orchard Rd and I‑88 interchange
