Turnkey Medical Office
For Sale
$525,000
6745 West 127th Street, Palos Heights, IL 60463
Fully renovated single-tenant office building with private offices, conference space, reception, and abundant natural light.
Property Size3,000 SF
Days on Market92
Property Features for 6745 West 127th Street
General Information
Standard status
Active
Size
3,000 SF
Class
B
Property subtype
Office
Building Details
Building Size
3,000 SF
Tenancy
Single
Listing Agency:
SVN | Chicago Commercial
Listed By:
James Mead, CCIM · License #471012893
(708) 289-0297
Source:
Svn
Added: Jul 11
Changed: Oct 1
Last Checked: Oct 9 at 6:43PM
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 SVN | Chicago Commercial
Investment Insights
Based on property information with market context.
Westgate Courtyard is a fully renovated, turnkey single-tenant medical or office building designed for professional use. The interior includes three private offices, a large conference room, a reception area, administrative workspace, a kitchen, and storage, with an efficient layout supported by modern HVAC and electrical infrastructure.
The property is offered for sale in Palos Heights, IL at 6745 West 127th Street, with ample parking and landscaped grounds enhancing accessibility and curb appeal.
The building’s recently completed gut renovation includes updated finishes and well-maintained building systems, along with expansive windows and skylights that provide abundant natural light. A durable lobby and common areas are in place to support a professional patient or client experience.
The property is offered for sale in Palos Heights, IL at 6745 West 127th Street, with ample parking and landscaped grounds enhancing accessibility and curb appeal.
The building’s recently completed gut renovation includes updated finishes and well-maintained building systems, along with expansive windows and skylights that provide abundant natural light. A durable lobby and common areas are in place to support a professional patient or client experience.
Key Highlights
- Recently completed total gut renovation to building finishes, HVAC, plumbing, and electrical systems
- Single‑tenant office building layout with three private offices, reception, administrative workspace, kitchen, and storage
- Large conference room with potential for additional offices or exam rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,365
Cap Rate
7.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$827,300
$827.3K
Cap Rate 7%
$590,929
$590.9K
Cap Rate 9%
$459,611
$459.6K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$73.4K $24.48/SF
− Vacancy
−$18.3K −$6.10/SF
EGI
$55.2K $18.38/SF
− OpEx
−$13.8K −$4.60/SF
NOI
$41.4K $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 Rate 5%
$827,300
Cap Rate 7%
$590,929
Cap Rate 9%
$459,611
Alternative Uses
Best Use
Office B
$590.9K
$517.1K – $689.4K
NOI $41,365 @ 7.0% cap · market cap 7.88%
Second Best
Healthcare Medical
$567.8K
$496.8K – $662.4K
NOI $39,744 @ 7.0% cap · market cap 7.57%
Theoretical Best
Office A
$1.04M
$906.3K – $1.21M
NOI $72,503 @ 7.0% cap · market cap 13.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,054
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60463, IL
14,048
Population
5,501
Households
2.6
Avg Household Size
52
Median Age
41%
College-Educated
97%
High-School Grad
5.3 sq mi
ZIP Area
2,651
Density / Sq Mi
$105,389
Median Household Income
$64,885
Median Earnings
$2,119
Median Rent
$343,700
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?
Medical Office Space - Fully renovated single-tenant office building with private offices, conference space, reception, and abundant natural light.
Where is this medical office space located?
The property is located at 6745 West 127th Street Palos Heights, IL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Recently completed total gut renovation to building finishes, HVAC, plumbing, and electrical systems; Single‑tenant office building layout with three private offices, reception, administrative workspace, kitchen, and storage; Large conference room with potential for additional offices or exam rooms
