Multi-Unit Office
For Sale
$1,999,900
402 W Boughton Road, Bolingbrook, IL 60440
Commercial Sale, Bolingbrook, IL
Property Size14,560 SF
Lot Size3.58 Acres
Price / SF$137.36
Days on Market250
Property Features for 402 W Boughton Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
OFFIC
Directions
West of 53 (1.2 miles west) to 402 W Boughton Rd (North side of Boughton)
Subdivision
Bolingbrook
Standard status
Active
APN
1202101000460000
Lot size
3.58 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
33937
Utilities
Cooling system
Central Air
Amenities
separate entrances
gas forced heating
central air
private restrooms
unfinished basement
Building Details
Year built
1974
Floors in Building
1
Number of units
12
Building materials
Brick, Concrete, Steel Siding, Cedar
Roof type
Composition
Listing Agency:
RE/MAX Professionals · RE/MAX International
(630) 759-2850
Listed By:
Edward Lukasik · License #471020258
(630) 759-2850
Added: Dec 13, 2025
Changed: Aug 20
Last Checked: Aug 20 at 3:06PM
MLS# 12532457
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.
Investment Insights
Based on property information with market context.
This office property includes two ranch-style buildings with 12 units and 12,400 rentable square feet within 14,560 total building square feet. Each suite has its own entrance, utilities, private restroom, gas-forced heating, and central air. The buildings use brick, cedar, concrete, and steel siding construction. Building 2 at 404 W Boughton Road includes an unfinished basement area that can provide storage space.
The property occupies a 1.8-acre site along Boughton Road, where the reported traffic count exceeds 30,000 vehicles per day. An expansive parking lot serves the buildings, and the parking surface was resurfaced in 2018. OFFIC zoning and the multi-suite configuration support use as an office complex, business headquarters, business center, or owner-user facility. The property was built in 1974.
The property occupies a 1.8-acre site along Boughton Road, where the reported traffic count exceeds 30,000 vehicles per day. An expansive parking lot serves the buildings, and the parking surface was resurfaced in 2018. OFFIC zoning and the multi-suite configuration support use as an office complex, business headquarters, business center, or owner-user facility. The property was built in 1974.
Key Highlights
- Two office buildings contain 12 units and 12,400 rentable SF
- 14,560 total building SF on a 1.8‑acre site
- Suites include separate entrances, utilities, private restrooms, gas‑forced heat, and central air
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
$174,912
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
8.75%
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%
$3,498,240
$3.5M
Cap Rate 7%
$2,498,743
$2.5M
Cap Rate 9%
$1,943,467
$1.9M
Market Conditions
NOI Build-Up for 14,560 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
$328.5K $22.56/SF
− Vacancy
−$95.3K −$6.54/SF
EGI
$233.2K $16.02/SF
− OpEx
−$58.3K −$4.00/SF
NOI
$174.9K $12.01/SF
Area
Will County, IL
Vacancy
29.00%
Lease Rate
$22.56 /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%
$3,498,240
Cap Rate 7%
$2,498,743
Cap Rate 9%
$1,943,467
Alternative Uses
Best Use
Office B
$2.50M
$2.19M – $2.92M
NOI $174,912 @ 7.0% cap · market cap 8.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.30M
$2.89M – $3.85M
NOI $231,155 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Office units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
650
Businesses Nearby
Explore this area
Business Placement
Demographics for 60440, IL
52,031
Population
17,750
Households
2.9
Avg Household Size
37
Median Age
31%
College-Educated
87%
High-School Grad
15.1 sq mi
ZIP Area
3,446
Density / Sq Mi
$95,120
Median Household Income
$45,021
Median Earnings
$1,648
Median Rent
$262,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Ranch-style suites offer private entrances, restrooms, independent utilities, gas-forced heat, and central air.
Where is this office building located?
The property is located at 402 W Boughton Road Bolingbrook, IL.
What is the asking price?
The asking price for this property is $1,999,900.
What are key features of this property?
This property features: Two office buildings contain 12 units and 12,400 rentable SF; 14,560 total building SF on a 1.8‑acre site; Suites include separate entrances, utilities, private restrooms, gas‑forced heat, and central air
