Naperville Entertainment Venue
For Sale
Contact for pricing
3103 Odyssey Ct, Naperville, IL 60563
40,653 SF vacant venue near Topgolf in Naperville, IL.
Property Size40,653 SF
Price / SF$318.55
Days on Market633
Property Features for 3103 Odyssey Ct
General Information
Standard status
Active
Size
40,653 SF
Total Parking Spaces
150
Property subtype
Retail, Office, Special Purpose
Zoning
COM
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
2019
Buildings
1
Stories
2
Listing Agency:
Marcus & Millichap - Chicago Oak Brook
(678) 808-2700
Listed By:
Steven Weinstock · License #IL 471011175
Source:
Crexi
Added: Nov 14, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:23AM
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 Marcus & Millichap - Chicago Oak Brook
Investment Insights
Based on property information with market context.
This 40,653 square foot vacant venue is located in Naperville, Illinois. Constructed in 2019, the Class "A" concrete tilt wall building features an open floor plan and high ceilings. Previously used as a restaurant and entertainment venue, the facility includes 12 bowling lanes, billiard tables, a laser tag facility, two WhirlyBall courts, and a full restaurant. It also features two 2nd level outdoor patios overlooking Topgolf. The property is located in the City Gate West mixed-use development, planned as a live, work, play environment and entertainment district. The site is near Interstate 88 and Highway 59. The surrounding area has over 4 million square feet of office space, hotels, shopping destinations, and residential golf course communities. The location has a population of 161,436 within 5 miles, with an average income of $134,691, and combined surrounding traffic counts exceeding 154,000 vehicles daily. The venue can be utilized for entertainment or repositioned for a corporate headquarters, medical center, designer showroom, dealership, fitness center, or self storage. City Gate West will connect to City Gate East and City Gate North.
Key Highlights
- High‑Traffic Location: Situated at the intersection of Interstate 88 and Highway 59 in Naperville, with combined traffic counts exceeding 154,000 vehicles daily.
- Affluent Demographics: Located in an affluent area of Naperville, with a population of 161,436 within 5 miles and an average income of $134,691.
- Versatile Repositioning Potential: The property can be utilized as an entertainment venue or repositioned for various uses, including corporate headquarters, medical center, or self‑storage.
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
$415,075
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
3.21%
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%
$8,301,500
$8.3M
Cap Rate 7%
$5,929,643
$5.9M
Cap Rate 9%
$4,611,944
$4.6M
Market Conditions
NOI Build-Up for 40,653 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
$634.2K $15.60/SF
− Vacancy
−$41.2K −$1.01/SF
EGI
$593.0K $14.59/SF
− OpEx
−$177.9K −$4.38/SF
NOI
$415.1K $10.21/SF
Area
Naperville, IL
Vacancy
6.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
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%
$8,301,500
Cap Rate 7%
$5,929,643
Cap Rate 9%
$4,611,944
Alternative Uses
Best Use
Industrial
$5.93M
$5.19M – $6.92M
NOI $415,075 @ 7.0% cap · market cap 3.21%
Second Best
Specialty Retail
$5.73M
$5.02M – $6.69M
NOI $401,433 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$9.18M
$8.03M – $10.71M
NOI $642,343 @ 7.0% cap · market cap 4.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
Explore this area
Business Placement
Demographics for 60563, IL
37,997
Population
16,911
Households
2.2
Avg Household Size
38
Median Age
66%
College-Educated
96%
High-School Grad
14.6 sq mi
ZIP Area
2,603
Density / Sq Mi
$106,207
Median Household Income
$71,782
Median Earnings
$1,786
Median Rent
$422,900
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bowling alley - 40,653 SF vacant venue near Topgolf in Naperville, IL.
Where is this bowling alley located?
The property is located at 3103 Odyssey Ct Naperville, IL.
What is the asking price?
The asking price for this property is $12,950,000.
What are key features of this property?
This property features: High‑Traffic Location: Situated at the intersection of Interstate 88 and Highway 59 in Naperville, with combined traffic counts exceeding 154,000 vehicles daily.; Affluent Demographics: Located in an affluent area of Naperville, with a population of 161,436 within 5 miles and an average income of $134,691.; Versatile Repositioning Potential: The property can be utilized as an entertainment venue or repositioned for various uses, including corporate headquarters, medical center, or self‑storage.
