Medical Office Building with New
For Sale
$2,850,000
475 Brown Boulevard, Bourbonnais, IL 60914
One-story, fully accessible complex with professional suites and on-site parking.
Property Size20,508 SF
Lot Size2.70 Acres
Price / SF$138.97
Days on Market70
Property Features for 475 Brown Boulevard
General Information
Standard status
Active
Size
20,508 SF
Lot size
2.70 Acres
Zoning
B-1
Additional Details
Road Access
Yes
Sprinkler System
Yes
Office Units
9
Amenities
beautiful common area
front canopy
fully handicap accessible
Building Details
Year Built
1991
Year Renovated
2024
Buildings
1
Stories
1
Building Size
20,508 SF
Tenancy
Multi
Listing Agency:
Lincoln-Way Realty, Inc
Listed By:
Joseph Siwinski · License #IL471007163
(708) 288-2578
Source:
Amyboston.realtopiare
Added: Aug 5
Changed: Sep 12
Last Checked: Oct 7 at 3:11PM
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 Lincoln-Way Realty, Inc
Investment Insights
Based on property information with market context.
Brown Professional Centre is a one-story office property containing 20,508 square feet across nine professional suites. The facility is fully handicap accessible and includes a shared common area, front canopy, standard wet system, and parking for more than 100 vehicles. A new roof was installed in 2024.
The property occupies over 2.7 acres at 475 Brown Boulevard in Bourbonnais, with exposure along heavily traveled William Latham Drive. B-1 Central Commercial District zoning supports its established office configuration, including medical, dental, and professional office space. The complex has long-term tenants and high occupancy rates, providing an existing operating history within a maintained commercial facility.
The property occupies over 2.7 acres at 475 Brown Boulevard in Bourbonnais, with exposure along heavily traveled William Latham Drive. B-1 Central Commercial District zoning supports its established office configuration, including medical, dental, and professional office space. The complex has long-term tenants and high occupancy rates, providing an existing operating history within a maintained commercial facility.
Key Highlights
- 20,508‑square‑foot one‑story office building with 9 professional suites
- New roof installed in 2024
- Over 2.7 acres with parking for 100+ vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$225,399
Cap Rate
7.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,507,980
$4.5M
Cap Rate 7%
$3,219,986
$3.2M
Cap Rate 9%
$2,504,433
$2.5M
Market Conditions
NOI Build-Up for 20,508 SF
Gross rent
$349.5K $17.04/SF
− Vacancy
−$48.9K −$2.39/SF
EGI
$300.5K $14.65/SF
− OpEx
−$75.1K −$3.66/SF
NOI
$225.4K $10.99/SF
Area
Kankakee County, IL
Vacancy
14.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,507,980
Cap Rate 7%
$3,219,986
Cap Rate 9%
$2,504,433
Alternative Uses
Best Use
Office B
$3.22M
$2.82M – $3.76M
NOI $225,399 @ 7.0% cap · market cap 7.91%
Second Best
Healthcare Medical
$2.56M
$2.24M – $2.98M
NOI $179,035 @ 7.0% cap · market cap 6.28%
Theoretical Best
Multifamily LT 5
$16.54M
$14.48M – $19.30M
NOI $1,158,114 @ 7.0% cap · market cap 40.64%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
9
Office units
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,077
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Office building - One-story, fully accessible complex with professional suites and on-site parking.
Where is this office building located?
The property is located at 475 Brown Boulevard Bourbonnais, IL.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: 20,508‑square‑foot one‑story office building with 9 professional suites; New roof installed in 2024; Over 2.7 acres with parking for 100+ vehicles
