Medical Office Building with Lower
For Sale
$2,795,000
230 E Ogden Avenue, Hinsdale, IL 60521
Executive office layout includes a lower level, elevator lobby, and exposure along Ogden Avenue.
Property Size11,729 SF
Lot Size0.88 Acres
Price / SF$206.09
Days on Market157
Property Features for 230 E Ogden Avenue
General Information
Standard status
Active
Size
11,729 SF
Class
A
Elevators
Yes
Lot size
0.88 Acres
Property subtype
Office - Medical Office
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Building Details
Building Size
11,729 SF
Year Built
2010
Buildings
1
Stories
2
Units
4
Listing Agency:
SVN | Chicago Commercial
(847) 421-1066
Listed By:
Albert M. Lindeman · License #471015537
Source:
Commercialcafe
Added: Mar 27
Changed: Aug 29
Last Checked: Aug 29 at 5:39PM
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 | Chicago Commercial
Investment Insights
Based on property information with market context.
Located at 230 E. Ogden Avenue in Hinsdale, Illinois, this medical and executive office property contains ±13,562 SF across two stories with an additional lower level. Built in 2010, the building includes an elevator lobby, Ogden Avenue exposure, and ample parking. The property is 100% occupied and sits on 0.88 AC.
The building is positioned within the Hinsdale-DuPage County medical corridor, near Hinsdale Hospital and Oak Brook Center. The surrounding area includes medical facilities, businesses, and residential neighborhoods, with access to major highways and public transportation. Its Hinsdale location places the property within the broader Chicago commercial real estate market.
The building is positioned within the Hinsdale-DuPage County medical corridor, near Hinsdale Hospital and Oak Brook Center. The surrounding area includes medical facilities, businesses, and residential neighborhoods, with access to major highways and public transportation. Its Hinsdale location places the property within the broader Chicago commercial real estate market.
Key Highlights
- ±13,562 SF medical and executive office building
- Two‑story building with an additional lower level
- 100% occupied
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
$186,998
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
6.69%
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%
$3,739,960
$3.7M
Cap Rate 7%
$2,671,400
$2.7M
Cap Rate 9%
$2,077,756
$2.1M
Market Conditions
NOI Build-Up for 13,562 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
$332.0K $24.48/SF
− Vacancy
−$82.7K −$6.10/SF
EGI
$249.3K $18.38/SF
− OpEx
−$62.3K −$4.60/SF
NOI
$187.0K $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%
$3,739,960
Cap Rate 7%
$2,671,400
Cap Rate 9%
$2,077,756
Alternative Uses
Best Use
Office B
$2.67M
$2.34M – $3.12M
NOI $186,998 @ 7.0% cap · market cap 6.69%
Second Best
Healthcare Medical
$2.57M
$2.25M – $2.99M
NOI $179,669 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$4.68M
$4.10M – $5.46M
NOI $327,764 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,998
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60521, IL
18,199
Population
6,528
Households
2.8
Avg Household Size
42
Median Age
80%
College-Educated
98%
High-School Grad
4.7 sq mi
ZIP Area
3,872
Density / Sq Mi
$244,318
Median Household Income
$131,397
Median Earnings
$1,921
Median Rent
$988,000
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.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Executive office layout includes a lower level, elevator lobby, and exposure along Ogden Avenue.
Where is this medical office space located?
The property is located at 230 E Ogden Avenue Hinsdale, IL.
What is the asking price?
The asking price for this property is $2,795,000.
What are key features of this property?
This property features: ±13,562 SF medical and executive office building; Two‑story building with an additional lower level; 100% occupied
