Renovated Downtown Office
22 W State St, Geneva, IL 60134
For Sale
$725,000
Three finished levels, multiple entrances, and historic architectural details support adaptable professional workspace in a central downtown setting.
Property Size2,497 SF
Days on Market50
Property Features for 22 W State St
General Information
Standard status
Size
Class
Property subtype
Building Details
Building Size
Year Built
Year Renovated
Units
Listing Agency:
SVN | Landmark Commercial Real Estate
Listed By:
Jeff Cadwallader · License IL #475116201
(630) 254-4734
Source:
Commercialcafe
Added: Sep 21
Changed: Oct 26
Last Checked: Nov 8 at 2:25AM
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 SVN | Landmark Commercial Real Estate
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Investment Insights
Based on property information with market context.
This office building provides over 3,300 SF of usable space across three finished floors. Originally constructed in 1893 and modernized in 2007, the property combines updated workspace with period character, including exposed tension beams on the second floor. Multiple entrances and flexible interior layouts support a range of professional office configurations.
The property is located at 22 W State St in downtown Geneva, on the west side of the Fox River and near the intersection of State St (Rt 38) and First St (Rt 31). It is two blocks from the Third Street shopping district, with restaurants, Herrington Hotel, nearby street parking, and large public lots. The Metra station is also a few blocks away. D-CM zoning applies.
The property is located at 22 W State St in downtown Geneva, on the west side of the Fox River and near the intersection of State St (Rt 38) and First St (Rt 31). It is two blocks from the Third Street shopping district, with restaurants, Herrington Hotel, nearby street parking, and large public lots. The Metra station is also a few blocks away. D-CM zoning applies.
Key Highlights
- Over 3,300 SF of usable office space
- Three finished floors with multiple entrances
- Built in 1893 and modernized in 2007
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,430
Cap Rate
4.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$688,600
$688.6K
Cap Rate 7%
$491,857
$491.9K
Cap Rate 9%
$382,556
$382.6K
Market Conditions
NOI Build-Up for 2,497 SF
Gross rent
$61.1K $24.48/SF
− Vacancy
−$15.2K −$6.10/SF
EGI
$45.9K $18.38/SF
− OpEx
−$11.5K −$4.60/SF
NOI
$34.4K $13.79/SF
Area
Kane 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 Rate 5%
$688,600
Cap Rate 7%
$491,857
Cap Rate 9%
$382,556
Alternative Uses
Best Use
Office B
$491.9K
$430.4K – $573.8K
NOI $34,430 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$680.9K
$595.8K – $794.4K
NOI $47,661 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,787
Businesses Nearby
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Business Placement
Demographics for 60134, IL
30,503
Population
11,159
Households
2.7
Avg Household Size
42
Median Age
66%
College-Educated
97%
High-School Grad
14.6 sq mi
ZIP Area
2,089
Density / Sq Mi
$148,283
Median Household Income
$66,586
Median Earnings
$1,816
Median Rent
$427,300
Median Home Value
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Market
Properties on Market for Office buildings in Kane County
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Three finished levels, multiple entrances, and historic architectural details support adaptable professional workspace in a central downtown setting.
Where is this office building located?
The property is located at 22 W State St Geneva, IL.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Over 3,300 SF of usable office space; Three finished floors with multiple entrances; Built in 1893 and modernized in 2007
