Updated Office Suite with Flex
2541 Division Street #103-104 Joliet, IL 60435
For Sale
$384,900
Combined office unit offers eight private offices, conference room, reception area, and two bathrooms, with recent updates and ample parking.
Days on Market53
Property Features for 2541 Division Street #103-104
General Information
Standard status
Active
Property subtype
Commercial
Building Details
Year Built
2002
Listing Agency:
NTEG Realty LLC
(708) 428-5778
Listed By:
Richard Gorecki · License #471004260
(708) 428-5778
Source:
Perillorealestategroup
Added: Jun 8
Changed: Jul 26
Last Checked: Jul 29 at 12:10PM
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 NTEG Realty LLC
Investment Insights
Based on property information with market context.
This property consists of two units combined into one larger office suite. The space includes eight private offices, a conference room, a kitchen area, a reception area, two bathrooms, a storage closet, a utility room, and a flex room for added functional space.
The building has been recently updated, including a roof installed about four years ago and cosmetic improvements completed over the past couple of years. Plenty of parking is available for visitors and staff.
The suite’s configuration supports a range of workplace needs, with dedicated meeting space, support areas such as a kitchen and utility room, and multiple separate offices.
The building has been recently updated, including a roof installed about four years ago and cosmetic improvements completed over the past couple of years. Plenty of parking is available for visitors and staff.
The suite’s configuration supports a range of workplace needs, with dedicated meeting space, support areas such as a kitchen and utility room, and multiple separate offices.
Key Highlights
- Office space built in 2002, updated in the past few years including cosmetic improvements
- Includes 8 private offices plus a conference room and reception area
- Two bathrooms, along with a kitchen area, storage closet, utility room, and flex room
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 | $48.0k | $24.00 |
| − Vacancy | −$7.7k | −$3.84 |
| EGI | $40.3k | $20.16 |
| − OpEx | −$10.1k | −$5.04 |
| NOI | $30.2k | $15.12 |
2,000 SF · lease $24.00/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$432.0K
$378.0K – $504.0K
NOI $30,240 @ 7.0% cap · market cap 7.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$589.7K
$516.0K – $688.0K
NOI $41,280 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Combined office unit offers eight private offices, conference room, reception area, and two bathrooms, with recent updates and ample parking.
Where is this office units located?
The property is located at 2541 Division Street #103-104 Joliet, IL.
What is the asking price?
The asking price for this property is $384,900.
What are key features of this property?
This property features: Office space built in 2002, updated in the past few years including cosmetic improvements; Includes 8 private offices plus a conference room and reception area; Two bathrooms, along with a kitchen area, storage closet, utility room, and flex room
