Freestanding Two-Story Office
For Sale
Contact for pricing
600 Busse Highway, Park Ridge, IL 60068
All-brick office property with separate entrances, dedicated parking, and B2 zoning for flexible occupancy.
Property Size5,500 SF
Price / SF$154.55
Days on Market10
Property Features for 600 Busse Highway
General Information
Standard status
Active
Size
5,500 SF
Total Parking Spaces
17
Property subtype
Office
Zoning
B2
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Building Details
Year Built
1980
Buildings
1
Stories
2
Units
2
Building Size
5,500 SF
Construction
brick
Listing Agency:
Re/Max Properties Northwest
(847) 698-7000
Listed By:
Michael Lohens · License #475139093
Source:
Crexi
Added: Jul 31
Changed: Aug 5
Last Checked: Aug 8 at 12:38PM
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 Re/Max Properties Northwest
Investment Insights
Based on property information with market context.
This freestanding office building provides 5,500 square feet across two stories, with all-brick construction and two front entrances. The configuration is suited to a single business or multiple occupants, while the dedicated 17-space parking lot supports daily access for staff and visitors. Built in 1980, the property is zoned B2.
The building is positioned along Busse Highway in Park Ridge, near the Uptown Park Ridge district and its dining, boutique retail, and entertainment offerings. Major highways, O'Hare International Airport, and Metra rail service are accessible from the property, with surrounding retail and business uses adding to the established commercial setting.
The building is positioned along Busse Highway in Park Ridge, near the Uptown Park Ridge district and its dining, boutique retail, and entertainment offerings. Major highways, O'Hare International Airport, and Metra rail service are accessible from the property, with surrounding retail and business uses adding to the established commercial setting.
Key Highlights
- 5,500‑square‑foot, two‑story office building
- All‑brick freestanding construction completed in 1980
- Two front entrances support separate access points
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
$75,836
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
8.92%
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%
$1,516,720
$1.5M
Cap Rate 7%
$1,083,371
$1.1M
Cap Rate 9%
$842,622
$842.6K
Market Conditions
NOI Build-Up for 5,500 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
$134.6K $24.48/SF
− Vacancy
−$33.5K −$6.10/SF
EGI
$101.1K $18.38/SF
− OpEx
−$25.3K −$4.60/SF
NOI
$75.8K $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%
$1,516,720
Cap Rate 7%
$1,083,371
Cap Rate 9%
$842,622
Alternative Uses
Best Use
Office B
$1.08M
$948.0K – $1.26M
NOI $75,836 @ 7.0% cap · market cap 8.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.90M
$1.66M – $2.22M
NOI $132,923 @ 7.0% cap · market cap 15.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,090
Businesses Nearby
Explore this area
Business Placement
Demographics for 60068, IL
39,672
Population
15,999
Households
2.5
Avg Household Size
44
Median Age
65%
College-Educated
97%
High-School Grad
7.3 sq mi
ZIP Area
5,435
Density / Sq Mi
$138,201
Median Household Income
$78,495
Median Earnings
$1,511
Median Rent
$539,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - All-brick office property with separate entrances, dedicated parking, and B2 zoning for flexible occupancy.
Where is this office building located?
The property is located at 600 Busse Highway Park Ridge, IL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 5,500‑square‑foot, two‑story office building; All‑brick freestanding construction completed in 1980; Two front entrances support separate access points
