Building Details

Year Built 1996

Stories 2

Tenancy Multi

Building Size 6,300 SF

Listing Agency: Chopp Commercial Properties

Listed By: Daniel Chopp · License #IL 471001713 Show Phone

Source: Crexi

Added: Jul 4 Changed: Sep 1 Last Checked: Sep 1 at 6:39AM

Report an Issue

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 Chopp Commercial Properties

Investment Insights

Based on property information with market context.

This multi-tenant office building contains approximately 6,300 square feet and was constructed in 1996. The property is fully leased, providing an occupied office configuration for evaluation by investors seeking an existing tenancy profile.

Zoned Office Transitional District, the building is located at 219 W. 55th Street in Clarendon Hills, Illinois. Its multiple-tenant layout supports a diversified office occupancy structure within a dedicated commercial building.

Key Highlights

• Approximately 6,300 SF of office space
• Multi‑tenant building constructed in 1996
• Fully leased office property

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

$86,867

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

7.93%

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%

$1,737,340 $1.7M

Cap Rate 7%

$1,240,957 $1.2M

Cap Rate 9%

$965,189 $965.2K

Market Conditions

NOI Build-Up for 6,300 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

$154.2K $24.48/SF

− Vacancy

−$38.4K −$6.10/SF

EGI

$115.8K $18.38/SF

− OpEx

−$29.0K −$4.60/SF

NOI

$86.9K $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%

$1,737,340

Cap Rate 7%

$1,240,957

Cap Rate 9%

$965,189

Alternative Uses

Best Use

Office B

$1.24M

$1.09M – $1.45M (±1% cap)

NOI $86,867 @ 7.0% cap · market cap 7.93%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.18M

$1.90M – $2.54M (±1% cap)

NOI $152,257 @ 7.0% cap · market cap 13.90%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Office buildings

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

582

Businesses Nearby

Explore this area Business Placement

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

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

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

Frequently Asked Questions

What type of property is this?

Office building - Established office asset with multiple tenants and an Office Transitional District zoning designation.

Where is this office building located?

The property is located at 219 W 55th Street Clarendon Hills, IL.

What is the asking price?

The asking price for this property is $1,095,000.

What are key features of this property?

This property features: Approximately 6,300 SF of office space; Multi‑tenant building constructed in 1996; Fully leased office property