Office Building For
For Sale
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20 Grant Street, Crystal Lake, IL 60014
Office building totaling 6,501 sq ft offered for sale.
Property Size6,501 SF
Price / SF$169.20
Days on Market52
Property Features for 20 Grant Street
General Information
Standard status
Active
Size
6,501 SF
Total Parking Spaces
35
Property subtype
Office
Zoning
B4 (City of Crystal Lake)
Building Details
Year Built
1964
Units
5
Tenancy
Multi
Listing Agency:
Blue Chip Commercial Real Estate LLC
Listed By:
Tim Billimack · License #IL 471000637
Source:
Crexi
Added: Jul 6
Changed: Aug 14
Last Checked: Aug 23 at 9:22AM
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 Blue Chip Commercial Real Estate LLC
Investment Insights
Based on property information with market context.
This office building is offered for sale at 20 Grant Street and totals 6,501 sq ft.
The property is presented as an office asset, with the available information identifying it as a single building configuration suitable for office use.
Additional details on layout, condition, and improvements are not provided in the available materials.
The property is presented as an office asset, with the available information identifying it as a single building configuration suitable for office use.
Additional details on layout, condition, and improvements are not provided in the available materials.
Key Highlights
- Office building totaling 6,501 sq ft
- Built in 1964
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
$89,638
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
8.15%
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%
$1,792,760
$1.8M
Cap Rate 7%
$1,280,543
$1.3M
Cap Rate 9%
$995,978
$996.0K
Market Conditions
NOI Build-Up for 6,501 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
$159.1K $24.48/SF
− Vacancy
−$39.6K −$6.10/SF
EGI
$119.5K $18.38/SF
− OpEx
−$29.9K −$4.60/SF
NOI
$89.6K $13.79/SF
Area
McHenry 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%
$1,792,760
Cap Rate 7%
$1,280,543
Cap Rate 9%
$995,978
Alternative Uses
Best Use
Office B
$1.28M
$1.12M – $1.49M
NOI $89,638 @ 7.0% cap · market cap 8.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.24M
$1.96M – $2.62M
NOI $157,115 @ 7.0% cap · market cap 14.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,099
Businesses Nearby
Explore this area
Business Placement
Demographics for 60014, IL
48,275
Population
18,135
Households
2.7
Avg Household Size
40
Median Age
42%
College-Educated
94%
High-School Grad
25.1 sq mi
ZIP Area
1,923
Density / Sq Mi
$104,657
Median Household Income
$50,805
Median Earnings
$1,429
Median Rent
$296,100
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 totaling 6,501 sq ft offered for sale.
Where is this office building located?
The property is located at 20 Grant Street Crystal Lake, IL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Office building totaling 6,501 sq ft; Built in 1964
