Medical Office Building with 4
200 N Gary Avenue Carol Stream, IL 60188
For Sale
$990,000
COMMERCIAL - Carol Stream, IL
Property Size6,040 SF
Lot Size0.56 Acres
Price / SF$163.91
Days on Market98
Property Features for 200 N Gary Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
OFFIC
Standard status
Active
APN
0232304018
Lot size
0.56 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
16459
Utilities
Cooling system
Central Air
Building Details
Year built
1986
Floors in Building
1
Number of units
4
Flooring type
Tile, Vinyl
Building materials
Brick, Combination
Listing Agency:
United Real Estate - Chicago
(630) 748-4660
Listed By:
Harun Ajmeri · License #475176446
(630) 748-4660
Added: Apr 24
Changed: Jul 12
Last Checked: Jul 30 at 12:06AM
MLS# 12623555
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained commercial office building totals 4,400 sq. ft. plus 1,640 sq. ft. of finished basement space. The property is divided into four separate units, with three units currently leased to established dental practices and a fourth unit recently remodeled for immediate primary care use. The primary care suite includes four exam rooms, a reception area, waiting room, laboratory, and restroom. The finished basement adds two additional rooms, a bathroom, and generous storage.
The building is equipped with three HVAC systems, with three A/C units and three furnaces, and includes a full sprinkler system. A new roof was installed in 2023. The site provides 24 parking spaces for tenants and visitors and has strong visibility along Gary Road for convenient access and exposure.
Zoned OFFIC, the property supports professional office uses and offers flexibility as both an income-producing asset and a practical move-in-ready medical option for an incoming tenant.
The building is equipped with three HVAC systems, with three A/C units and three furnaces, and includes a full sprinkler system. A new roof was installed in 2023. The site provides 24 parking spaces for tenants and visitors and has strong visibility along Gary Road for convenient access and exposure.
Zoned OFFIC, the property supports professional office uses and offers flexibility as both an income-producing asset and a practical move-in-ready medical option for an incoming tenant.
Key Highlights
- 4,400 SF commercial office building (plus 1,640 SF finished basement) built in 1986
- Divided into four separate units; three units are leased to established dental practices
- Recently remodeled primary care suite with 4 exam rooms, reception, waiting room, laboratory, and restroom
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $147.9k | $24.48 |
| − Vacancy | −$36.8k | −$6.10 |
| EGI | $111.0k | $18.38 |
| − OpEx | −$27.8k | −$4.60 |
| NOI | $83.3k | $13.79 |
6,040 SF · lease $24.48/SF/yr · vacancy 24.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.19M
$1.04M – $1.39M
NOI $83,282 @ 7.0% cap · market cap 8.41%
Second Best
Healthcare Medical
$1.14M
$1.00M – $1.33M
NOI $80,018 @ 7.0% cap · market cap 8.08%
Theoretical Best
Office A
$2.09M
$1.82M – $2.43M
NOI $145,974 @ 7.0% cap · market cap 14.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained office building with four units, including a remodeled primary care suite and finished basement space.
Where is this medical office space located?
The property is located at 200 N Gary Avenue Carol Stream, IL.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: 4,400 SF commercial office building (plus 1,640 SF finished basement) built in 1986; Divided into four separate units; three units are leased to established dental practices; Recently remodeled primary care suite with 4 exam rooms, reception, waiting room, laboratory, and restroom
