Office Condo with Private
For Sale
Contact for pricing
400 Knoll St, Wheaton, IL 60187
Office layout includes an inviting foyer, conference room, kitchenette, private bathrooms, and multiple enclosed offices.
Property Size2,770 SF
Price / SF$216.57
Days on Market289
Property Features for 400 Knoll St
General Information
Standard status
Active
Size
2,770 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Listing Agency:
CRE Advising
(312) 448-6401
Listed By:
Steve Horvath · License #475128970
(630) 430-4300
Source:
Moodyscre
Added: Nov 18, 2025
Changed: Aug 29
Last Checked: Sep 1 at 8:07PM
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 CRE Advising
Investment Insights
Based on property information with market context.
This 2,770-square-foot office condo provides a defined professional layout with an inviting foyer, several private offices, a conference room, kitchenette, private bathrooms, and a generous main office area. The configuration combines enclosed workspaces with shared areas suited to day-to-day office operations.
The property is located at 400 Knoll St in Wheaton, Illinois, near the DuPage County Courthouse and major roads and expressways. Its office-specific improvements and multiple private rooms provide a ready framework for an owner-user or office occupant.
The property is located at 400 Knoll St in Wheaton, Illinois, near the DuPage County Courthouse and major roads and expressways. Its office-specific improvements and multiple private rooms provide a ready framework for an owner-user or office occupant.
Key Highlights
- 2,770‑square‑foot office condo
- Several private offices plus a generous main office area
- Conference room, kitchenette, and private bathrooms
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
$38,194
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
6.37%
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%
$763,880
$763.9K
Cap Rate 7%
$545,629
$545.6K
Cap Rate 9%
$424,378
$424.4K
Market Conditions
NOI Build-Up for 2,770 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
$67.8K $24.48/SF
− Vacancy
−$16.9K −$6.10/SF
EGI
$50.9K $18.38/SF
− OpEx
−$12.7K −$4.60/SF
NOI
$38.2K $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%
$763,880
Cap Rate 7%
$545,629
Cap Rate 9%
$424,378
Alternative Uses
Best Use
Office B
$545.6K
$477.4K – $636.6K
NOI $38,194 @ 7.0% cap · market cap 6.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$956.4K
$836.8K – $1.12M
NOI $66,945 @ 7.0% cap · market cap 11.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
918
Businesses Nearby
Explore this area
Business Placement
Demographics for 60187, IL
30,059
Population
10,619
Households
2.8
Avg Household Size
37
Median Age
62%
College-Educated
95%
High-School Grad
6.6 sq mi
ZIP Area
4,554
Density / Sq Mi
$119,048
Median Household Income
$49,625
Median Earnings
$1,744
Median Rent
$432,200
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 units - Office layout includes an inviting foyer, conference room, kitchenette, private bathrooms, and multiple enclosed offices.
Where is this office units located?
The property is located at 400 Knoll St Wheaton, IL.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 2,770‑square‑foot office condo; Several private offices plus a generous main office area; Conference room, kitchenette, and private bathrooms
