Stand-Alone Medical Office
For Sale
$645,000
4700-4718 Roosevelt Rd, Hillside, IL 60162
Improved stand-alone building with dedicated identity and adjacent land for added parking, expansion, or future development.
Property Size2,487 SF
Price / SF$259.35
Days on Market96
Property Features for 4700-4718 Roosevelt Rd
General Information
Standard status
Active
Size
2,487 SF
Class
B
Property subtype
Multi Tenant Office
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
2,487 SF
Year Built
1986
Listing Agency:
Caton Commercial Real Estate Group
Listed By:
Eddie Palacios
(815) 436-5700
Source:
Thebrokerlist
Added: Jun 11
Changed: Sep 3
Last Checked: Sep 13 at 3:52AM
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 Caton Commercial Real Estate Group
Investment Insights
Based on property information with market context.
This sale includes a 2,487 SF stand-alone commercial building currently built out as a veterinary clinic with existing medical infrastructure. The flexible layout is designed to support a veterinary and medical use, with the ability to convert into traditional professional office space as needs change. The property also includes adjacent excess land that can support additional parking, expansion, or future development plans.
The building is positioned along Roosevelt Road in Hillside’s established commercial corridor. It offers strong road presence and convenient access to major regional routes, including I-290, I-294, and I-88, supporting travel across the western suburbs and toward O’Hare. Service providers and clients can also access both airports within approximately 20 to 30 minutes via the nearby interstate connections.
For buyers and operators, the existing medical build-out may fit well for veterinary, medical, or professional office tenants seeking a turn-key foundation. Alternatively, the included adjacent parcel provides practical flexibility for accommodating vehicles on-site and planning for near-term or future site improvements. The stand-alone configuration and dedicated building identity support a straightforward user and branding experience.
The building is positioned along Roosevelt Road in Hillside’s established commercial corridor. It offers strong road presence and convenient access to major regional routes, including I-290, I-294, and I-88, supporting travel across the western suburbs and toward O’Hare. Service providers and clients can also access both airports within approximately 20 to 30 minutes via the nearby interstate connections.
For buyers and operators, the existing medical build-out may fit well for veterinary, medical, or professional office tenants seeking a turn-key foundation. Alternatively, the included adjacent parcel provides practical flexibility for accommodating vehicles on-site and planning for near-term or future site improvements. The stand-alone configuration and dedicated building identity support a straightforward user and branding experience.
Key Highlights
- 2,487 SF stand‑alone commercial building built in 1986, currently set up as a veterinary clinic with existing medical infrastructure
- Bonus adjacent 0.28‑acre parcel for additional parking, expansion, or future development
- Flexible interior layout that could be converted to traditional office space
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
$34,292
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
5.32%
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%
$685,840
$685.8K
Cap Rate 7%
$489,886
$489.9K
Cap Rate 9%
$381,022
$381.0K
Market Conditions
NOI Build-Up for 2,487 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
$60.9K $24.48/SF
− Vacancy
−$15.2K −$6.10/SF
EGI
$45.7K $18.38/SF
− OpEx
−$11.4K −$4.60/SF
NOI
$34.3K $13.79/SF
Area
Cook 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%
$685,840
Cap Rate 7%
$489,886
Cap Rate 9%
$381,022
Alternative Uses
Best Use
Office B
$489.9K
$428.7K – $571.5K
NOI $34,292 @ 7.0% cap · market cap 5.32%
Second Best
Healthcare Medical
$470.7K
$411.9K – $549.1K
NOI $32,948 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$858.6K
$751.3K – $1.00M
NOI $60,105 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
Explore this area
Business Placement
Demographics for 60162, IL
8,337
Population
3,097
Households
2.7
Avg Household Size
41
Median Age
27%
College-Educated
81%
High-School Grad
3.2 sq mi
ZIP Area
2,605
Density / Sq Mi
$70,772
Median Household Income
$42,614
Median Earnings
$1,265
Median Rent
$233,800
Median Home Value
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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 - Improved stand-alone building with dedicated identity and adjacent land for added parking, expansion, or future development.
Where is this office building located?
The property is located at 4700-4718 Roosevelt Rd Hillside, IL.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: 2,487 SF stand‑alone commercial building built in 1986, currently set up as a veterinary clinic with existing medical infrastructure; Bonus adjacent 0.28‑acre parcel for additional parking, expansion, or future development; Flexible interior layout that could be converted to traditional office space
