Office
For Sale
Contact for pricing
4970 Varsity Drive, Lisle, IL 60532
Established office property constructed in 2000.
Property Size24,000 SF
Price / SF$166.67
Days on Market11
Property Features for 4970 Varsity Drive
General Information
Standard status
Active
Size
24,000 SF
Total Parking Spaces
122
Property subtype
Office
Building Details
Year Built
2000
Year Renovated
2014
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Lee & Associates - Chicago
(630) 728-1179
Listed By:
Tony Russo · License #IL
Source:
Crexi
Added: Aug 18
Changed: Aug 28
Last Checked: Aug 28 at 8:27AM
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 Lee & Associates - Chicago
Investment Insights
Based on property information with market context.
This office building at 4970 Varsity Drive contains 24,000 square feet and was completed in 2000. The property is identified as an office building and is offered for sale.
The asset is located in Lisle, Illinois, with a 60532 ZIP code. Its recorded address provides a specific location for evaluating the property and its surrounding commercial context.
The asset is located in Lisle, Illinois, with a 60532 ZIP code. Its recorded address provides a specific location for evaluating the property and its surrounding commercial context.
Key Highlights
- 24,000‑square‑foot office building
- Constructed in 2000
- Located at 4970 Varsity Drive, Lisle, IL 60532
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
$330,921
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
8.27%
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%
$6,618,420
$6.6M
Cap Rate 7%
$4,727,443
$4.7M
Cap Rate 9%
$3,676,900
$3.7M
Market Conditions
NOI Build-Up for 24,000 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
$587.5K $24.48/SF
− Vacancy
−$146.3K −$6.10/SF
EGI
$441.2K $18.38/SF
− OpEx
−$110.3K −$4.60/SF
NOI
$330.9K $13.79/SF
Area
DuPage 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%
$6,618,420
Cap Rate 7%
$4,727,443
Cap Rate 9%
$3,676,900
Alternative Uses
Best Use
Office B
$4.73M
$4.14M – $5.52M
NOI $330,921 @ 7.0% cap · market cap 8.27%
Second Best
Healthcare Medical
$4.54M
$3.97M – $5.30M
NOI $317,952 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$8.29M
$7.25M – $9.67M
NOI $580,027 @ 7.0% cap · market cap 14.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
766
Businesses Nearby
Explore this area
Business Placement
Demographics for 60532, IL
28,766
Population
13,203
Households
2.2
Avg Household Size
39
Median Age
59%
College-Educated
98%
High-School Grad
8.5 sq mi
ZIP Area
3,384
Density / Sq Mi
$100,373
Median Household Income
$64,114
Median Earnings
$1,576
Median Rent
$387,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Established office property constructed in 2000.
Where is this office building located?
The property is located at 4970 Varsity Drive Lisle, IL.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 24,000‑square‑foot office building; Constructed in 2000; Located at 4970 Varsity Drive, Lisle, IL 60532
