Historic Office Building with
For Sale
$675,000
28 S 5th Street, Geneva, IL 60134
Commercial Sale, Geneva, IL
Property Size2,244 SF
Lot Size0.21 Acres
Price / SF$300.80
Days on Market93
Property Features for 28 S 5th Street
General Information
Property type
Commercial Sale
Property subtype
Office
Directions
Rt 38 to 5th St S to property at corner of 5th and James
Subdivision
Geneva
Standard status
Active
APN
1203335011
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
10832
Utilities
Cooling system
Central Air
Building Details
Year built
1890
Floors in Building
2
Number of units
1
Building materials
Wood, Frame
Roof type
Composition
Listing Agency:
Premier Living Properties
(630) 377-1646
Listed By:
Tamara O'Connor · License #475110537
(630) 377-1646
Added: May 26
Changed: Aug 19
Last Checked: Aug 26 at 11:06AM
MLS# 12641521
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1890, this wood-frame office property contains approximately 2,244 square feet on a 0.21-acre parcel. The existing arrangement includes multiple offices, gathering areas, and private rooms, providing a varied commercial layout within a character-rich building. Central air supports the current office configuration, while the composition roof and detached 2-car garage add practical features to the property.
The building occupies the corner of Fifth and James Street in downtown Geneva, with access to nearby shopping, dining, the Metra station, and the riverwalk. Its office-oriented layout and combination of enclosed rooms and shared areas provide flexibility for professional workspace, creative use, or other commercial concepts supported by applicable requirements.
The building occupies the corner of Fifth and James Street in downtown Geneva, with access to nearby shopping, dining, the Metra station, and the riverwalk. Its office-oriented layout and combination of enclosed rooms and shared areas provide flexibility for professional workspace, creative use, or other commercial concepts supported by applicable requirements.
Key Highlights
- Approximately 2,244 square feet on a 0.21‑acre parcel
- Office layout with multiple offices, gathering areas, and private rooms
- Detached 2‑car garage
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
$30,941
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
4.58%
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%
$618,820
$618.8K
Cap Rate 7%
$442,014
$442.0K
Cap Rate 9%
$343,789
$343.8K
Market Conditions
NOI Build-Up for 2,244 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
$54.9K $24.48/SF
− Vacancy
−$13.7K −$6.10/SF
EGI
$41.3K $18.38/SF
− OpEx
−$10.3K −$4.60/SF
NOI
$30.9K $13.79/SF
Area
Kane 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%
$618,820
Cap Rate 7%
$442,014
Cap Rate 9%
$343,789
Alternative Uses
Best Use
Office B
$442.0K
$386.8K – $515.7K
NOI $30,941 @ 7.0% cap · market cap 4.58%
Second Best
Mixed Use
$398.1K
$348.4K – $464.5K
NOI $27,870 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$774.8K
$677.9K – $903.9K
NOI $54,233 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,719
Businesses Nearby
Explore this area
Business Placement
Demographics for 60134, IL
30,503
Population
11,159
Households
2.7
Avg Household Size
42
Median Age
66%
College-Educated
97%
High-School Grad
14.6 sq mi
ZIP Area
2,089
Density / Sq Mi
$148,283
Median Household Income
$66,586
Median Earnings
$1,816
Median Rent
$427,300
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 - Downtown corner property configured with multiple offices, gathering areas, private rooms, and central air.
Where is this office building located?
The property is located at 28 S 5th Street Geneva, IL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Approximately 2,244 square feet on a 0.21‑acre parcel; Office layout with multiple offices, gathering areas, and private rooms; Detached 2‑car garage
