Renovated Flex and Office
For Sale
Contact for pricing
330 E IL RTE 22, Lake Zurich, IL 60010
Move-in-ready flex space with fully modernized offices, new HVAC, and a recently replaced roof.
Property Size71,688 SF
Price / SF$89
Days on Market59
Property Features for 330 E IL RTE 22
General Information
Standard status
Active
Size
71,688 SF
Property subtype
Industrial
Building Details
Year Renovated
2026
Listing Agency:
Entre Commercial Realty LLC
Listed By:
Denise Chaimovitz · License #IL 475132530
Source:
Crexi
Added: Jun 11
Changed: Jul 10
Last Checked: Aug 7 at 8:34AM
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 Entre Commercial Realty LLC
Investment Insights
Based on property information with market context.
This renovated flex and office building was comprehensively updated with a renovation completed in 2026. The work includes fully modernized office areas, new HVAC systems, and a new roof, along with numerous additional capital improvements throughout the property. The result is a more current, tenant-ready environment designed to support both office and flexible operational needs.
The property is located at 330 E IL Route 22 in Lake Zurich, IL. Its position along Route 22 offers straightforward roadway access for business traffic and deliveries, supporting day-to-day operations for users that need on-site office support and functional space.
For buyers and tenants seeking a renovated building that reduces near-term capital concerns, this asset offers office modernization paired with updated building systems. The combination of new HVAC, roof replacement, and office area upgrades can be particularly helpful for organizations looking to move in with the foundation of the major improvements already completed. The flexible building type also supports a range of use scenarios where office and operational space can work together under one roof.
The property is located at 330 E IL Route 22 in Lake Zurich, IL. Its position along Route 22 offers straightforward roadway access for business traffic and deliveries, supporting day-to-day operations for users that need on-site office support and functional space.
For buyers and tenants seeking a renovated building that reduces near-term capital concerns, this asset offers office modernization paired with updated building systems. The combination of new HVAC, roof replacement, and office area upgrades can be particularly helpful for organizations looking to move in with the foundation of the major improvements already completed. The flexible building type also supports a range of use scenarios where office and operational space can work together under one roof.
Key Highlights
- Comprehensive renovation completed in 2026
- Fully modernized office areas
- New HVAC systems installed
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
$374,720
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
5.87%
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%
$7,494,400
$7.5M
Cap Rate 7%
$5,353,143
$5.4M
Cap Rate 9%
$4,163,556
$4.2M
Market Conditions
NOI Build-Up for 71,688 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
$464.5K $6.48/SF
− Vacancy
−$23.7K −$0.33/SF
EGI
$440.8K $6.15/SF
− OpEx
−$66.1K −$0.92/SF
NOI
$374.7K $5.23/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
15.00%
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%
$7,494,400
Cap Rate 7%
$5,353,143
Cap Rate 9%
$4,163,556
Alternative Uses
Best Use
Office B
$14.12M
$12.36M – $16.47M
NOI $988,460 @ 7.0% cap · market cap 15.49%
Second Best
Flex RnD
$10.78M
$9.44M – $12.58M
NOI $754,875 @ 7.0% cap · market cap 11.83%
Theoretical Best
Office A
$24.75M
$21.66M – $28.88M
NOI $1,732,542 @ 7.0% cap · market cap 27.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
544
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60010, IL
46,365
Population
17,621
Households
2.6
Avg Household Size
47
Median Age
70%
College-Educated
97%
High-School Grad
74.1 sq mi
ZIP Area
626
Density / Sq Mi
$175,050
Median Household Income
$86,255
Median Earnings
$2,459
Median Rent
$622,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Lakeland Caterers — 44 S Old Rand Rd, Lake Zurich, IL 60047
Frequently Asked Questions
What type of property is this?
Flex space - Move-in-ready flex space with fully modernized offices, new HVAC, and a recently replaced roof.
Where is this flex space located?
The property is located at 330 E IL RTE 22 Lake Zurich, IL.
What is the asking price?
The asking price for this property is $6,380,232.
What are key features of this property?
This property features: Comprehensive renovation completed in 2026; Fully modernized office areas; New HVAC systems installed
