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    Medical Office Condo Near Hospital Title is generated by Realmo AI

    3330 W 177th Street, Hazel Crest, IL 60429

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    Claim this Listing
    For Sale
    $400,000

    COMMERCIAL - Hazel Crest, IL

    Type:Office
    Property size:
    2,240 SF
    Lot size:
    6.81 Acres
    Price / SF:
    $178/SF
    Added:
    Aug 5, 2025
    Days on Market:
    290
    Last Refresh:
    May 21 at 7:06 pm

    Property Features for 3330 W 177th Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Zoning
    OFFIC
    Standard status
    Active
    APN
    28352040391007
    Size
    2,240 SF
    Lot size
    6.81 Acres

    Taxes and HOA fees

    Tax Year
    2022
    Tax Annual Amount
    14150

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    2007
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Carpet, Tile
    Building materials
    Concrete, Masonite, Sheltered Porch

    We can help!

    Listing Contact
    Kevin Burke
    Kevin Burke

    Listing agent Kevin Burke License #475137180

    Listing office RE/MAX 10 15607 South Harlem Avenue, Oak Lawn, IL

    Listing date Aug 5, 2025

    MLS# 12438027

    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.

    HighLights

    • First‑floor medical office condo directly across from Advocate South Suburban Hospital.
    • Features a 2240 sq. ft. unit with a separate entry from the parking lot.
    • Equipped with a spacious main waiting room and a 2nd waiting room.
    • Includes 5 office spaces, a kitchen area, and 2 bathrooms.
    • Interior entryway close to lobby, elevators, and public bathrooms.
    • Built in 2007 with concrete construction.

    Overview

    This first-floor medical office condo is located directly across from Advocate South Suburban Hospital. The 2240 square foot unit features a separate entry to the building from the parking lot, as well as an entryway from the interior of the building close to the lobby, elevators, and public bathrooms. The layout includes a spacious main waiting room and a second waiting room. It is also equipped with a kitchen area, two bathrooms, five office spaces, closets, and storage rooms. The Homeowner's Association (HOA) fee is $740 per month. The property is located in Hazel Crest, Illinois, with a zoning designation of OFFIC. The lot size is 6.8149 acres.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $343.2K
    NOI $30,886 @ 9.00% cap · cautious / downside scenario
    Moderate
    $441.2K
    NOI $30,886 @ 7.00% cap · market / base-case scenario
    Aggressive
    $617.7K
    NOI $30,886 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $54.8k $24.48
    − Vacancy −$13.7k −$6.10
    EGI $41.2k $18.38
    − OpEx −$10.3k −$4.60
    NOI $30.9k $13.79
    2,240 SF · lease $24.48/SF/yr · vacancy 24.90% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $441.2K
    $386.1K – $514.8K (±1% cap)
    NOI $30,886 @ 7.0% cap · market cap 7.72%
    Second Best
    Healthcare Medical
    $423.9K
    $371.0K – $494.6K (±1% cap)
    NOI $29,676 @ 7.0% cap · market cap 7.42%
    Theoretical Best
    Office A
    $773.4K
    $676.7K – $902.3K (±1% cap)
    NOI $54,136 @ 7.0% cap · market cap 13.53%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Melroz Dental Dental Office Dr. Nicole Guyton Dental Office Forever Fit Health ... Physician Neurology Consultants Physician Advocate Medical Group ... Physician

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hazel Crest
    County
    Cook
    State
    Illinois
    Longitude
    -87.6964826
    Latitude
    41.5684759

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    FAQs

    What type of property is this?
    Medical Office Space - First-floor medical office condo across from Advocate South Suburban Hospital.
    Where is this medical office space located?
    The property is located at 3330 W 177th Street Hazel Crest, IL.
    What is the asking price?
    The asking price for this property is $400,000.
    What are key features of this property?
    This property features: First‑floor medical office condo directly across from Advocate South Suburban Hospital.; Features a 2240 sq. ft. unit with a separate entry from the parking lot.; Equipped with a spacious main waiting room and a 2nd waiting room.
    (708) 857-1500
    We can help!
    Listing Contact
    Kevin Burke
    Kevin Burke
    Real Estate License ID: 475137180
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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