Office Condominium
For Sale
Contact for pricing
28377 DAVIS PKWY, Warrenville, IL 60555
Office or medical suite in a condominium development with lake and forest preserve views.
Property Size1,869 SF
Price / SF$185
Days on Market48
Property Features for 28377 DAVIS PKWY
General Information
Standard status
Active
Size
1,869 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Building Details
Units
1
Listing Agency:
Equitable Realty Group
Listed By:
Joseph Yendrek · License #471009942
Source:
Crexi
Added: Jul 10
Changed: Aug 8
Last Checked: Jul 17 at 4:18AM
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 Equitable Realty Group
Investment Insights
Based on property information with market context.
This office or medical use suite is currently set up as a PT/chiropractic office. The property is located within Cantera Lakes, a premier office condominium development, and the specific unit at 28377 features pond and forest preserve views.
The suite is conveniently located in Warrenville, Illinois, just 2 minutes from the Winfield Road exchange off I-88, and approximately 35 minutes from downtown Chicago. The site is west of the Diehl Rd. and Winfield Rd. intersection, directly south of the Cantera theaters, with the development positioned near restaurants and retail for walkable access.
The suite is conveniently located in Warrenville, Illinois, just 2 minutes from the Winfield Road exchange off I-88, and approximately 35 minutes from downtown Chicago. The site is west of the Diehl Rd. and Winfield Rd. intersection, directly south of the Cantera theaters, with the development positioned near restaurants and retail for walkable access.
Key Highlights
- Currently set up as a PT/chiropractic office in an office or medical suite
- Condominium development with lake and forest preserve views
- 28377 includes pond and forest preserve views
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
$25,770
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
7.45%
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%
$515,400
$515.4K
Cap Rate 7%
$368,143
$368.1K
Cap Rate 9%
$286,333
$286.3K
Market Conditions
NOI Build-Up for 1,869 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
$45.8K $24.48/SF
− Vacancy
−$11.4K −$6.10/SF
EGI
$34.4K $18.38/SF
− OpEx
−$8.6K −$4.60/SF
NOI
$25.8K $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%
$515,400
Cap Rate 7%
$368,143
Cap Rate 9%
$286,333
Alternative Uses
Best Use
Office B
$368.1K
$322.1K – $429.5K
NOI $25,770 @ 7.0% cap · market cap 7.45%
Second Best
Healthcare Medical
$353.7K
$309.5K – $412.7K
NOI $24,761 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$645.3K
$564.6K – $752.8K
NOI $45,170 @ 7.0% cap · market cap 13.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
596
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60555, IL
13,909
Population
5,894
Households
2.4
Avg Household Size
39
Median Age
44%
College-Educated
87%
High-School Grad
8.0 sq mi
ZIP Area
1,739
Density / Sq Mi
$100,076
Median Household Income
$51,371
Median Earnings
$1,757
Median Rent
$271,900
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?
Medical Office Space - Office or medical suite in a condominium development with lake and forest preserve views.
Where is this medical office space located?
The property is located at 28377 DAVIS PKWY Warrenville, IL.
What is the asking price?
The asking price for this property is $345,765.
What are key features of this property?
This property features: Currently set up as a PT/chiropractic office in an office or medical suite; Condominium development with lake and forest preserve views; 28377 includes pond and forest preserve views
