Office Building Near
For Sale
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70 S Constitution Dr, Aurora, IL 60506
Office building for sale located just over three miles south of the I-88 and Orchard Road interchange.
Property Size5,096 SF
Price / SF$266.88
Days on Market170
Property Features for 70 S Constitution Dr
General Information
Standard status
Active
Size
5,096 SF
Class
B
Total Parking Spaces
33
Property subtype
Office
Zoning
O(S) - Office (Special Use District)
Investment Type
Owner/User
Building Details
Year Built
2006
Units
2
Listing Agency:
Dolan and Murphy
Listed By:
J.D. Dolan · License #IL 471021830
(630) 801-8800
Source:
Crexi
Added: Mar 31
Changed: Sep 1
Last Checked: Sep 15 at 4:43AM
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 Dolan and Murphy
Investment Insights
Based on property information with market context.
This office building is available for sale and includes a total property size of 5,096 square feet, according to the provided information.
The property is located just over 3 miles south of the I-88 and Orchard Rd interchange, offering convenient access to one of the area’s major road connections.
For additional details on the building’s layout, condition, and any improvements, please contact the listing broker.
The property is located just over 3 miles south of the I-88 and Orchard Rd interchange, offering convenient access to one of the area’s major road connections.
For additional details on the building’s layout, condition, and any improvements, please contact the listing broker.
Key Highlights
- Office building built in 2006
- Located just over 3 miles south of the I‑88 and Orchard Rd interchange
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
$75,217
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
5.53%
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%
$1,504,340
$1.5M
Cap Rate 7%
$1,074,529
$1.1M
Cap Rate 9%
$835,744
$835.7K
Market Conditions
NOI Build-Up for 5,096 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
$122.3K $24.00/SF
− Vacancy
−$22.0K −$4.32/SF
EGI
$100.3K $19.68/SF
− OpEx
−$25.1K −$4.92/SF
NOI
$75.2K $14.76/SF
Area
Aurora, IL
Vacancy
18.00%
Lease Rate
$24.00 /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%
$1,504,340
Cap Rate 7%
$1,074,529
Cap Rate 9%
$835,744
Alternative Uses
Best Use
Office B
$1.07M
$940.2K – $1.25M
NOI $75,217 @ 7.0% cap · market cap 5.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,124 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
Explore this area
Business Placement
Demographics for 60506, IL
52,011
Population
18,204
Households
2.9
Avg Household Size
36
Median Age
29%
College-Educated
84%
High-School Grad
21.2 sq mi
ZIP Area
2,453
Density / Sq Mi
$76,105
Median Household Income
$38,341
Median Earnings
$1,305
Median Rent
$246,700
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?
Office building - Office building for sale located just over three miles south of the I-88 and Orchard Road interchange.
Where is this office building located?
The property is located at 70 S Constitution Dr Aurora, IL.
What is the asking price?
The asking price for this property is $1,360,000.
What are key features of this property?
This property features: Office building built in 2006; Located just over 3 miles south of the I‑88 and Orchard Rd interchange
