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    Downtown Wheaton Office Space Title is generated by Realmo AI

    240 E Willow Ave, Wheaton, IL 60187

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    Standalone office building near Metra with ample parking.

    Type:Office
    Property size:
    7,032 SF
    Added:
    Nov 21, 2025
    Days on Market:
    181
    Last Refresh:
    Dec 8 at 8:58 pm

    Property Features for 240 E Willow Ave

    General Information

    Standard status
    Active
    Size
    7,032 SF
    Property subtype
    Office

    Spaces For Lease

    at 240 E Willow Ave Contact us

    We can help!

    Listing Contact
    Gezim Nilaj
    Gezim Nilaj

    Listing agent Gezim Nilaj License #475148534

    Listing office William Raveis Real Estate

    Listing date Nov 21, 2025

    Source Svnchicago

    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 William Raveis Real Estate

    HighLights

    • Prime downtown Wheaton location, offering high visibility and accessibility.
    • Abundant parking with 27 private spaces, a significant advantage in a downtown area.
    • Convenient 12‑minute walk to the Metra train station, ideal for commuters.
    • Modern, edgy office space with exposed brick, industrial‑style ceiling, and a stunning foyer.
    • Functional layout including 4 private offices, 1 executive office, a fully applianced kitchen, and private restrooms.
    • Brand new AC units, ensuring a comfortable and efficient work environment.

    Overview

    This standalone masonry office building is located in downtown Wheaton, offering convenient access to major highways including IL-38 and IL-59. Situated just off Main Street, the property is a 12-minute walk to the Metra train and provides 27 private parking spaces, along with street parking. The available space, Suite 102, comprises 1,668 square feet of office space featuring an open and edgy design with a stunning foyer, exposed brick, and an industrial-style ceiling. The suite includes one executive office, four additional offices, a fully applianced kitchen, and private restrooms. The space is available September 14, 2025, and is suitable for any mid-size office. The location provides a blend of convenience and accessibility, with proximity to downtown Wheaton’s retail and dining options. The property offers exceptional visibility and accessibility, placing it within close reach of the surrounding business district. The area features a vibrant mix of retail, dining, and professional services, creating a dynamic environment for businesses. This location offers convenience, exposure, and opportunity for businesses looking to thrive in a desirable Chicago suburb.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Performance Trust Capital ... Financial Advisor Stayyy.com Animal Training Wheaton Dog Training: ... Animal Training Joseph Walter Papuga Alternative Medicine Practice Dr. Joseph Papuga Alternative Medicine Practice

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wheaton
    County
    DuPage
    State
    Illinois
    Longitude
    -88.1032
    Latitude
    41.863

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    FAQs

    What type of property is this?
    Office units - Standalone office building near Metra with ample parking.
    Where is this office units located?
    The property is located at 240 E Willow Ave Wheaton, IL.
    What are key features of this property?
    This property features: Prime downtown Wheaton location, offering high visibility and accessibility.; Abundant parking with **27 private spaces**, a significant advantage in a downtown area.; Convenient 12‑minute walk to the Metra train station, ideal for commuters.
    (847) 233-1115
    We can help!
    Listing Contact
    Gezim Nilaj
    Gezim Nilaj
    Real Estate License ID: 475148534
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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