Medical Office Suite with Procedure
461 Brown Boulevard, Bourbonnais, IL 60914
For Sale
Contact for pricing
Clinical and administrative areas include exam, recovery, reception, and private office space.
Property Size2,900 SF
Price / SF$0.01
Days on Market43
Property Features for 461 Brown Boulevard
General Information
Standard status
Size
Property subtype
Additional Details
Condition
Property Use
Building Details
Year Built
Listing Agency:
McColly Bennett Real Estate
(815) 929-9381
Listed By:
Joseph Nugent · License #471010036
(815) 509-9005
Source:
Helenoliveri
Added: Sep 28
Changed: Nov 8
Last Checked: Nov 8 at 7:54AM
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 McColly Bennett Real Estate
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Investment Insights
Based on property information with market context.
This 2,900-square-foot medical office suite was built in 2000 and includes three exam rooms, each with a sink, plus a procedure room and adjoining recovery room. Two private offices provide separate administrative space, while reception and a waiting area accommodate patient arrivals. The suite’s configuration brings clinical and office functions together within one established medical setting.
Key Highlights
- 2,900 SF medical office suite
- Three exam rooms, each equipped with a sink
- Procedure room with an adjoining recovery room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,317
Suggested Prices Based on Cap Rates
Cap Rate 5%
$506,340
$506.3K
Cap Rate 7%
$361,671
$361.7K
Cap Rate 9%
$281,300
$281.3K
Market Conditions
NOI Build-Up for 2,900 SF
Gross rent
$43.5K $15.00/SF
− Vacancy
−$1.3K −$0.45/SF
EGI
$42.2K $14.55/SF
− OpEx
−$16.9K −$5.82/SF
NOI
$25.3K $8.73/SF
Area
Kankakee County, IL
Vacancy
3.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$506,340
Cap Rate 7%
$361,671
Cap Rate 9%
$281,300
Alternative Uses
Best Use
Office B
$455.3K
$398.4K – $531.2K
NOI $31,873 @ 7.0% cap · market cap 177,072.22%
Second Best
Healthcare Medical
$361.7K
$316.5K – $422.0K
NOI $25,317 @ 7.0% cap · market cap 140,650.00%
Theoretical Best
Multifamily LT 5
$2.34M
$2.05M – $2.73M
NOI $163,767 @ 7.0% cap · market cap 909,816.67%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,077
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 60914, IL
28,894
Population
10,763
Households
2.7
Avg Household Size
36
Median Age
32%
College-Educated
95%
High-School Grad
48.9 sq mi
ZIP Area
591
Density / Sq Mi
$88,688
Median Household Income
$42,150
Median Earnings
$1,206
Median Rent
$240,500
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Clinical and administrative areas include exam, recovery, reception, and private office space.
Where is this medical office space located?
The property is located at 461 Brown Boulevard Bourbonnais, IL.
What are key features of this property?
This property features: 2,900 SF medical office suite; Three exam rooms, each equipped with a sink; Procedure room with an adjoining recovery room
