Renovated Freestanding Office
For Sale
$795,000
707-717 N Iowa Ave Villa, Villa Park, IL 60181
Move-in-ready workspace includes storage, an overhead garage door, dedicated parking, and flexible occupancy options.
Property Size10,200 SF
Price / SF$77.94
Days on Market193
Property Features for 707-717 N Iowa Ave Villa
General Information
Standard status
Active
Size
10,200 SF
Class
C
Property subtype
Multi Tenant Office
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
10,200 SF
Year Built
1961
Buildings
1
Stories
1
Properties For Sale
at 707-717 N Iowa Ave Villa Contact us- Size
- 10,200 SF
- Lease Type
- Modified Gross
707-717 Iowa
Listing Agency:
SVN | Chicago Commercial
(312) 676-1862
Listed By:
Olivia Czyzynski · License #475146577
(312) 676-1862
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 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 SVN | Chicago Commercial
Investment Insights
Based on property information with market context.
This 10,200-square-foot freestanding office property offers a renovated, single-story layout with a small storage area and overhead garage door. The building is available for sale or lease, with occupancy options ranging from 5,000 square feet to the full building. Its prior four-unit flex configuration supports potential division into separate spaces or restoration to multi-tenant flex use.
A dedicated parking lot supplements street parking. The property sits near North Avenue, also designated IL Route 64, and Addison Road, approximately one mile west of Route 83. Access to I-290, I-294, and Route 83 connects the site with Chicago, O’Hare International Airport, and the western suburbs. O’Hare is approximately 15 miles away. The building was constructed in 1961 and is located in DuPage County’s Eastern East/West Corridor submarket.
A dedicated parking lot supplements street parking. The property sits near North Avenue, also designated IL Route 64, and Addison Road, approximately one mile west of Route 83. Access to I-290, I-294, and Route 83 connects the site with Chicago, O’Hare International Airport, and the western suburbs. O’Hare is approximately 15 miles away. The building was constructed in 1961 and is located in DuPage County’s Eastern East/West Corridor submarket.
Key Highlights
- 10,200 SF freestanding, single‑story office building
- Recently renovated with a move‑in‑ready interior
- Prior 4‑unit flex configuration can be restored
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
$43,908
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
5.52%
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%
$878,160
$878.2K
Cap Rate 7%
$627,257
$627.3K
Cap Rate 9%
$487,867
$487.9K
Market Conditions
NOI Build-Up for 10,200 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
$66.1K $6.48/SF
− Vacancy
−$3.4K −$0.33/SF
EGI
$62.7K $6.15/SF
− OpEx
−$18.8K −$1.84/SF
NOI
$43.9K $4.30/SF
Area
DuPage County, IL
Vacancy
5.10%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
30.00%
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%
$878,160
Cap Rate 7%
$627,257
Cap Rate 9%
$487,867
Alternative Uses
Best Use
Office B
$2.01M
$1.76M – $2.34M
NOI $140,641 @ 7.0% cap · market cap 17.69%
Second Best
Flex RnD
$1.53M
$1.34M – $1.79M
NOI $107,406 @ 7.0% cap · market cap 13.51%
Theoretical Best
Office A
$3.52M
$3.08M – $4.11M
NOI $246,512 @ 7.0% cap · market cap 31.01%
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
941
Businesses Nearby
Explore this area
Business Placement
Demographics for 60181, IL
29,821
Population
12,485
Households
2.4
Avg Household Size
38
Median Age
38%
College-Educated
92%
High-School Grad
6.5 sq mi
ZIP Area
4,588
Density / Sq Mi
$90,375
Median Household Income
$47,191
Median Earnings
$1,619
Median Rent
$294,700
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 - Move-in-ready workspace includes storage, an overhead garage door, dedicated parking, and flexible occupancy options.
Where is this office building located?
The property is located at 707-717 N Iowa Ave Villa Villa Park, IL.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 10,200 SF freestanding, single‑story office building; Recently renovated with a move‑in‑ready interior; Prior 4‑unit flex configuration can be restored
