Single-Tenant Office/R&D
New
For Sale
Contact for pricing
250 E Devon Ave, Itasca, IL 60143
Recently renovated office and R&D facility leased on an absolute NNN basis.
Property Size58,301 SF
Lot Size6.40 Acres
Price / SF$271.43
Days on Market6
Property Features for 250 E Devon Ave
General Information
Standard status
Active
Size
58,301 SF
Lot size
6.40 Acres
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Office Units
1
Building Details
Building Size
58,301 SF
Tenancy
Single
Listing Agency:
STREAM Capital Partners
(203) 610-1541
Listed By:
Phil DiGennaro · License #RES.0804114
Source:
Moodyscre
Added: Jul 31
Changed: Aug 2
Last Checked: Aug 5 at 12:15PM
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 58,301-square-foot office and R&D facility occupies 6.4 acres in Hamilton Lakes Business Park. The recently renovated, single-tenant property is leased to Ajinomoto Health & Nutrition North America under an absolute NNN lease, with contractual rent escalations of approximately 2.56%, more than 10 years remaining on the primary term, and renewal options. The facility has a polished presentation and substantial tenant investment supporting continued operational use.
The property is located in Itasca within the Chicago MSA’s O’Hare Airport submarket, approximately 12 miles from O’Hare International Airport. Immediate access to I-290, I-390, and I-355 connects the site with the surrounding suburban employment and logistics corridor. Its position within Hamilton Lakes Business Park also places the facility in an area identified in the source information as an emerging data-center redevelopment hub.
The property is located in Itasca within the Chicago MSA’s O’Hare Airport submarket, approximately 12 miles from O’Hare International Airport. Immediate access to I-290, I-390, and I-355 connects the site with the surrounding suburban employment and logistics corridor. Its position within Hamilton Lakes Business Park also places the facility in an area identified in the source information as an emerging data-center redevelopment hub.
Key Highlights
- 58,301 SF single‑tenant office/R&D facility
- Situated on 6.4 acres in Hamilton Lakes Business Park
- Absolute NNN lease with approximately 2.56% contractual rent escalations
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.43M | $24.48 |
| − Vacancy | −$355.4k | −$6.10 |
| EGI | $1.07M | $18.38 |
| − OpEx | −$268.0k | −$4.60 |
| NOI | $803.9k | $13.79 |
58,301 SF · lease $24.48/SF/yr · vacancy 24.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$11.48M
$10.05M – $13.40M
NOI $803,875 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$20.13M
$17.61M – $23.48M
NOI $1,409,007 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Highway access
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Recently renovated office and R&D facility leased on an absolute NNN basis.
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: 58,301 SF single‑tenant office/R&D facility; Situated on 6.4 acres in Hamilton Lakes Business Park; Absolute NNN lease with approximately 2.56% contractual rent escalations
