Building Details

Building Size 2,158 SF

Year Built 1958

Stories 1

Units 1

Listing Agency: Coldwell Banker Realty k***@cbrealty.com Show Phone

Listed By: Kyle Capone Show Phone

Source: Birdrealtysells

Added: Jan 5 Changed: Aug 8 Last Checked: Aug 10 at 12:01PM

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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 Coldwell Banker Realty

Investment Insights

Based on property information with market context.

This freestanding office building is well suited for owner-users looking for a flexible healthcare or professional layout. The main level offers approximately 1,215 square feet with three private offices with sinks, two bathrooms, and space that can be reconfigured for additional offices. An unfinished 947-square-foot basement provides options for storage or future expansion.

The property sits on nearly 12,000 square feet of land and features 65 feet of frontage for visibility and signage potential. An ADA-compliant ramp/deck is located on the east side of the building, and the site includes 11+ on-site parking spaces for clients and staff. The property is zoned O-T (Office Transitional).

Key Highlights

• Freestanding office building built in 1958 with prime 55th Street exposure in Clarendon Hills
• Main level offers approx. 1,215 SF with flexible layout, including 3 private offices with sinks and 2 bathrooms
• Nearly 12,000 SF lot with 65 ft frontage and signage potential

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

$29,755

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

7.17%

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%

$595,100 $595.1K

Cap Rate 7%

$425,071 $425.1K

Cap Rate 9%

$330,611 $330.6K

Market Conditions

NOI Build-Up for 2,158 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

$52.8K $24.48/SF

− Vacancy

−$13.2K −$6.10/SF

EGI

$39.7K $18.38/SF

− OpEx

−$9.9K −$4.60/SF

NOI

$29.8K $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%

$595,100

Cap Rate 7%

$425,071

Cap Rate 9%

$330,611

Alternative Uses

Best Use

Office B

$425.1K

$371.9K – $495.9K (±1% cap)

NOI $29,755 @ 7.0% cap · market cap 7.17%

Second Best

Healthcare Medical

$408.4K

$357.4K – $476.5K (±1% cap)

NOI $28,589 @ 7.0% cap · market cap 6.89%

Theoretical Best

Office A

$745.1K

$651.9K – $869.2K (±1% cap)

NOI $52,154 @ 7.0% cap · market cap 12.57%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Medical Office Space

Suggested Use

Top Pick Real Estate Agency Restaurant Law Firm Hair Salon Electrical Service Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

553

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 60514, IL

10,320

Population

4,030

Households

2.6

Avg Household Size

41

Median Age

74%

College-Educated

99%

High-School Grad

2.0 sq mi

ZIP Area

5,160

Density / Sq Mi

$114,672

Median Household Income

$75,028

Median Earnings

$1,195

Median Rent

$568,300

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties ... What are key features of this property?

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Similar Off Market Nearby

• Clarendon Hills Veterinarian — 144 Burlington Ave, Clarendon Hills, IL 60514
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Frequently Asked Questions

What type of property is this?

Medical Office Space - Freestanding office building with flexible main level, unfinished basement space, and 65 feet of frontage.

Where is this medical office space located?

The property is located at 217 55th Street Clarendon Hills, IL.

What is the asking price?

The asking price for this property is $415,000.

What are key features of this property?

This property features: Freestanding office building built in 1958 with prime 55th Street exposure in Clarendon Hills; Main level offers approx. 1,215 SF with flexible layout, including 3 private offices with sinks and 2 bathrooms; Nearly 12,000 SF lot with 65 ft frontage and signage potential