Downtown Sterling Class A
For Sale
$1,495,000
403 E 3rd St, Sterling, IL 61081
Class A office building in downtown Sterling, Illinois for sale.
Property Size13,000 SF
Days on Market314
Property Features for 403 E 3rd St
General Information
Standard status
Active
Size
13,000 SF
Property subtype
Office
Occupancy
100%
Lease Term
4.5 Years
Net Operating Income
$147,720
Building Details
Building Size
13,000 SF
Tenancy
Single
Listing Agency:
Joseph Rossi & Associates, Inc (JRA) - Corporate
Listed By:
Scott Fitzgerald · License #471014248
(312) 523-3176
Source:
Jrossiandassociates
Added: Nov 25, 2025
Changed: Oct 4
Last Checked: Oct 4 at 7:19AM
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 Joseph Rossi & Associates, Inc (JRA) - Corporate
Investment Insights
Based on property information with market context.
This 13,000 square foot Class A masonry office building is located in downtown Sterling, Illinois, approximately 100 miles west of Chicago and 45 miles east of the Quad Cities. Recent upgrades to the property include a new roof, ADA-compliant restrooms, and parking improvements. The building is situated near City Hall, the U.S. Post Office, and the courthouse. Anchored by a national CPA and consulting firm, the property has maintained 100% occupancy since 1992, offering a stable investment opportunity.
Key Highlights
- 100% occupancy since 1992, providing a stable, high‑credit investment.
- Anchored by a top national CPA and consulting firm.
- Located in downtown Sterling, Illinois, near City Hall, the U.S. Post Office, and the courthouse.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,697
Cap Rate
5.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,733,940
$1.7M
Cap Rate 7%
$1,238,529
$1.2M
Cap Rate 9%
$963,300
$963.3K
Market Conditions
NOI Build-Up for 13,000 SF
Gross rent
$148.2K $11.40/SF
− Vacancy
−$32.6K −$2.51/SF
EGI
$115.6K $8.89/SF
− OpEx
−$28.9K −$2.22/SF
NOI
$86.7K $6.67/SF
Area
Whiteside County, IL
Vacancy
22.00%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,733,940
Cap Rate 7%
$1,238,529
Cap Rate 9%
$963,300
Alternative Uses
Best Use
Office B
$1.24M
$1.08M – $1.44M
NOI $86,697 @ 7.0% cap · market cap 5.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.43M
$2.13M – $2.84M
NOI $170,235 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
650
Businesses Nearby
Explore this area
Business Placement
Demographics for 61081, IL
21,064
Population
9,753
Households
2.2
Avg Household Size
43
Median Age
20%
College-Educated
91%
High-School Grad
124.4 sq mi
ZIP Area
169
Density / Sq Mi
$60,854
Median Household Income
$40,497
Median Earnings
$791
Median Rent
$121,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Class A office building in downtown Sterling, Illinois for sale.
Where is this office building located?
The property is located at 403 E 3rd St Sterling, IL.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 100% occupancy since 1992, providing a stable, high‑credit investment.; Anchored by a top national CPA and consulting firm.; Located in downtown Sterling, Illinois, near City Hall, the U.S. Post Office, and the courthouse.
