Mixed-Use Property with
For Sale
$1,850,000
Pending
219 N White Street, Frankfort, IL 60423
Separately metered office and residential condominium units are currently leased within a professionally finished building.
Property Size8,410 SF
Days on Market151
Property Features for 219 N White Street
General Information
Standard status
Pending
Size
8,410 SF
Total Parking Spaces
25
Zoning
COMMR
Occupancy
100%
Net Operating Income
$109,849
Units
Multifamily Units
3
Office Units
2
Additional Details
Floor
Main Level
Utilities to Site
Yes
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$31,651
Amenities
Conference Room
Full Kitchen/Employee Lounge
Computer Server Room
Electric Car Charging Station
Communal Waste Enclosure
Private Rear Yard Area
Exterior Employee Outdoor Break Area
Irrigation System
Central Air
Building Details
Building Size
8,410 SF
Year Built
2010
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
Remax 10
Listed By:
Kelly Ryan · License #475.150712
(708) 822-7926
Source:
Evrealestate
Added: May 17
Changed: Oct 13
Last Checked: Oct 12 at 7:38PM
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 Remax 10
Investment Insights
Based on property information with market context.
This mixed-use condominium property combines a 3,406-square-foot office component with three residential condos. The office occupies the main level and includes nine private offices, reception and workstation areas, a conference room, kitchen and employee lounge, server/storage space, two private bathrooms, four entrances and exits, and 10-foot ceilings. Oversized windows provide views from the work areas, while the building’s commercial and residential components have separate utilities.
The residential units range from 959 to 1,254 square feet and include balconies, hardwood flooring, crown molding, solid-panel doors, granite kitchen finishes, stainless steel appliances, ceramic-tiled showers, and separate laundry. Each unit has a deeded one-car garage and one assigned parking space. The property includes 25 parking stalls, an electric vehicle charging station, a private rear yard, an exterior employee break area, irrigation, and a communal waste enclosure. Built in 2010, the building received a new roof in 2025 and has a fire sprinkler system. Zoning is COMMR.
The residential units range from 959 to 1,254 square feet and include balconies, hardwood flooring, crown molding, solid-panel doors, granite kitchen finishes, stainless steel appliances, ceramic-tiled showers, and separate laundry. Each unit has a deeded one-car garage and one assigned parking space. The property includes 25 parking stalls, an electric vehicle charging station, a private rear yard, an exterior employee break area, irrigation, and a communal waste enclosure. Built in 2010, the building received a new roof in 2025 and has a fire sprinkler system. Zoning is COMMR.
Key Highlights
- Mixed‑use condominium property with a 3,406 SF office and 3 residential condos
- Three residential units ranging from 959 SF to 1,254 SF
- 25 parking stalls plus deeded one‑car garages and assigned parking for the residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,729
Cap Rate
2.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,034,580
$1.0M
Cap Rate 7%
$738,986
$739.0K
Cap Rate 9%
$574,767
$574.8K
Market Conditions
NOI Build-Up for 3,406 SF
Gross rent
$102.2K $30.00/SF
− Vacancy
−$19.4K −$5.70/SF
EGI
$82.8K $24.30/SF
− OpEx
−$31.0K −$9.11/SF
NOI
$51.7K $15.19/SF
Area
Will County, IL
Vacancy
19.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,034,580
Cap Rate 7%
$738,986
Cap Rate 9%
$574,767
Alternative Uses
Best Use
Mixed Use
$739.0K
$646.6K – $862.2K
NOI $51,729 @ 7.0% cap · market cap 2.80%
Second Best
Office B
$584.5K
$511.5K – $682.0K
NOI $40,917 @ 7.0% cap · market cap 2.21%
Theoretical Best
Office A
$772.5K
$675.9K – $901.2K
NOI $54,074 @ 7.0% cap · market cap 2.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Office units
3
Residential units
100%
Occupancy
Single-tenant
Tenancy
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
973
Businesses Nearby
Explore this area
Business Placement
Demographics for 60423, IL
32,784
Population
11,494
Households
2.9
Avg Household Size
42
Median Age
48%
College-Educated
97%
High-School Grad
37.9 sq mi
ZIP Area
865
Density / Sq Mi
$137,651
Median Household Income
$63,686
Median Earnings
$1,455
Median Rent
$376,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Separately metered office and residential condominium units are currently leased within a professionally finished building.
Where is this mixed-use property located?
The property is located at 219 N White Street Frankfort, IL.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Mixed‑use condominium property with a 3,406 SF office and 3 residential condos; Three residential units ranging from 959 SF to 1,254 SF; 25 parking stalls plus deeded one‑car garages and assigned parking for the residences
