Former Union Hall Office
412 hankes Avenue Aurora, IL 60505
For Sale
Under Contract
$350,000
COMMERCIAL - Aurora, IL
Property Size1,000 SF
Lot Size1.04 Acres
Price / SF$350
Days on Market285
Property Features for 412 hankes Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
COMMR
Standard status
Active Under Contract
APN
1515280002
Lot size
1.04 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
9368
Utilities
Utilities
Water Available
Cooling system
Central Air
Building Details
Year built
1910
Floors in Building
2
Number of units
1
Building materials
Wood, Vinyl Siding, Brick
Roof type
Fiberglass
Listing Agency:
RE/MAX 10
(708) 429-4300
Listed By:
Bruce La Ha · License #IL:475.102758
(708) 857-1500
Added: Oct 17, 2025
Changed: Jul 15
Last Checked: Jul 28 at 12:06AM
MLS# 12498520
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 2-story former house includes Union Hall offices plus a meeting hall. The property features a newer roof and newer windows, and a brand new paved parking lot. The building is being sold AS IS.
The property is located at 412 Hankes Avenue in Aurora, IL 60505. It sits on about 1.04 acres and the lot can be subdivided.
Per the listing, the site is zoned COMMR with residential zoning and a special use, which the seller notes may support similar uses including religious and daycare. The listing also suggests that reinstalling a kitchen could make it suitable for a home business operation, and buyers are encouraged to bring their ideas.
The property is located at 412 Hankes Avenue in Aurora, IL 60505. It sits on about 1.04 acres and the lot can be subdivided.
Per the listing, the site is zoned COMMR with residential zoning and a special use, which the seller notes may support similar uses including religious and daycare. The listing also suggests that reinstalling a kitchen could make it suitable for a home business operation, and buyers are encouraged to bring their ideas.
Key Highlights
- Large one‑acre lot with subdivision potential.
- Zoned residential with special use allowance for various purposes (religious, daycare, etc.).
- Newer roof and windows.
Financial Insights For Office B
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.0k | $24.00 |
| − Vacancy | −$4.3k | −$4.32 |
| EGI | $19.7k | $19.68 |
| − OpEx | −$4.9k | −$4.92 |
| NOI | $14.8k | $14.76 |
1,000 SF · lease $24.00/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$210.9K
$184.5K – $246.0K
NOI $14,760 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$286.3K
$250.5K – $334.0K
NOI $20,040 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Two-story office and meeting hall in a former house setting with new parking and newer roof and windows.
Where is this office building located?
The property is located at 412 hankes Avenue Aurora, IL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Large one‑acre lot with subdivision potential.; Zoned residential with special use allowance for various purposes (religious, daycare, etc.).; Newer roof and windows.
