Itasca Office Building For
For Sale
Contact for pricing
250 E Devon Ave, Itasca, IL 60143
59,592 SqFt office building with 7.00% CAP rate.
Property Size59,592 SF
Price / SF$265.55
Days on Market156
Property Features for 250 E Devon Ave
General Information
Standard status
Active
Size
59,592 SF
Property subtype
Office
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$1,107,719
Building Details
Tenancy
Single
Listing Agency:
Stream Capital Partners
(203) 610-1541
Listed By:
Phil DiGennaro · License #CT RES.0804114
Source:
Crexi
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 12 at 4:29AM
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 Stream Capital Partners
Investment Insights
Based on property information with market context.
This commercial real estate offering features a 59,592 square foot office building. The property is being offered for sale and has a capitalization rate of 7.00%.
Key Highlights
- 59,592 SqFt Office Space available
- Office Property
- 7.00% CAP Rate
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
$821,676
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
5.19%
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%
$16,433,520
$16.4M
Cap Rate 7%
$11,738,229
$11.7M
Cap Rate 9%
$9,129,733
$9.1M
Market Conditions
NOI Build-Up for 59,592 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
$1.46M $24.48/SF
− Vacancy
−$363.2K −$6.10/SF
EGI
$1.10M $18.38/SF
− OpEx
−$273.9K −$4.60/SF
NOI
$821.7K $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%
$16,433,520
Cap Rate 7%
$11,738,229
Cap Rate 9%
$9,129,733
Alternative Uses
Best Use
Office B
$11.74M
$10.27M – $13.69M
NOI $821,676 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$20.57M
$18.00M – $24.00M
NOI $1,440,208 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
813
Businesses Nearby
Explore this area
Business Placement
Demographics for 60143, IL
11,214
Population
4,879
Households
2.3
Avg Household Size
42
Median Age
48%
College-Educated
95%
High-School Grad
7.0 sq mi
ZIP Area
1,602
Density / Sq Mi
$112,247
Median Household Income
$61,706
Median Earnings
$1,775
Median Rent
$386,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 59,592 SqFt office building with 7.00% CAP rate.
Where is this office building located?
The property is located at 250 E Devon Ave Itasca, IL.
What is the asking price?
The asking price for this property is $15,824,557.
What are key features of this property?
This property features: 59,592 SqFt Office Space available; Office Property; 7.00% CAP Rate
