Freestanding Medical Office
For Sale
$183,000
220 E State St, Sycamore, IL 60178
C-2-zoned property offers flexible office configuration with attached parking and basement storage.
Property Size1,157 SF
Price / SF$158.17
Days on Market32
Property Features for 220 E State St
General Information
Standard status
Active
Size
1,157 SF
Zoning
C-2
Building Details
Year Built
1951
Buildings
1
Listing Agency:
Century 21 Circle
(630) 369-2000
Listed By:
Diane Simmons · License #475141472
Source:
Amyboston.realtopiare
Added: Jul 29
Changed: Aug 28
Last Checked: Aug 28 at 2:50PM
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 Century 21 Circle
Investment Insights
Based on property information with market context.
Located at 220 E State St in Sycamore, this freestanding medical office property was built in 1951 and carries C-2 zoning. The building includes multiple offices, two kitchen areas, bathrooms serving each unit, interior storage, and a basement with additional storage and mechanical systems. A new roof is also in place.
The current configuration accommodates office and massage-studio use, while the existing layout can support two separate businesses or be opened into a larger office environment. Parking is available in an attached lot, with additional free parking nearby. The rear parking area offers room for possible expansion, subject to applicable approvals.
The current configuration accommodates office and massage-studio use, while the existing layout can support two separate businesses or be opened into a larger office environment. Parking is available in an attached lot, with additional free parking nearby. The rear parking area offers room for possible expansion, subject to applicable approvals.
Key Highlights
- C‑2 zoning for a freestanding medical office property
- Built in 1951 with a new roof
- Two kitchen areas and bathrooms serving each unit
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
$15,953
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
8.72%
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%
$319,060
$319.1K
Cap Rate 7%
$227,900
$227.9K
Cap Rate 9%
$177,256
$177.3K
Market Conditions
NOI Build-Up for 1,157 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
$28.3K $24.48/SF
− Vacancy
−$7.1K −$6.10/SF
EGI
$21.3K $18.38/SF
− OpEx
−$5.3K −$4.60/SF
NOI
$16.0K $13.79/SF
Area
DeKalb 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%
$319,060
Cap Rate 7%
$227,900
Cap Rate 9%
$177,256
Alternative Uses
Best Use
Office B
$227.9K
$199.4K – $265.9K
NOI $15,953 @ 7.0% cap · market cap 8.72%
Second Best
Healthcare Medical
$219.0K
$191.6K – $255.5K
NOI $15,328 @ 7.0% cap · market cap 8.38%
Theoretical Best
Office A
$399.5K
$349.5K – $466.0K
NOI $27,962 @ 7.0% cap · market cap 15.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
802
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60178, IL
22,386
Population
9,151
Households
2.4
Avg Household Size
39
Median Age
44%
College-Educated
96%
High-School Grad
67.2 sq mi
ZIP Area
333
Density / Sq Mi
$88,314
Median Household Income
$47,157
Median Earnings
$1,084
Median Rent
$262,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Sycamore Animal Hospital — 310 E State St #3, Sycamore, IL 60178
- Verna Waters & Associates — 310 IL-64, Sycamore, IL 60178, United States
Frequently Asked Questions
What type of property is this?
Medical Office Space - C-2-zoned property offers flexible office configuration with attached parking and basement storage.
Where is this medical office space located?
The property is located at 220 E State St Sycamore, IL.
What is the asking price?
The asking price for this property is $183,000.
What are key features of this property?
This property features: C‑2 zoning for a freestanding medical office property; Built in 1951 with a new roof; Two kitchen areas and bathrooms serving each unit
