Modern Office Building in
For Sale
$2,800,000
739 North Avenue, Glendale Heights, IL 60137
14,517 SF office building constructed in 2005, prime owner/user opportunity.
Property Size14,517 SF
Price / SF$192.88
Days on Market205
Property Features for 739 North Avenue
General Information
Standard status
Active
Size
14,517 SF
Class
B
Property subtype
Office
Building Details
Building Size
14,517 SF
Year Built
2005
Listing Agency:
SPERRY VAN NESS
(224) 723-2528
Listed By:
Lina Adamis · License #475146577
(224) 723-2528
Source:
Svnchicago
Added: Jan 27
Changed: Aug 7
Last Checked: Aug 20 at 4:18AM
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 SPERRY VAN NESS
Investment Insights
Based on property information with market context.
Located at 739 North Avenue in Glendale Heights, IL, this 14,517 SF office building presents an owner/user opportunity. Constructed in 2005, the property features a modern design and functionality, providing ample office space. The building benefits from contemporary amenities and a well-maintained interior, enhanced by its curb appeal. Situated in Glendale Heights, the location provides access to dining, retail destinations, and green spaces. High-traffic thoroughfares and public transit options ensure connectivity for employees and visitors.
Key Highlights
- Modern 14,517 SF office building constructed in 2005.
- Prime owner/user opportunity.
- Strategic location in Glendale Heights with easy access to amenities.
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
$200,166
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
7.15%
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%
$4,003,320
$4.0M
Cap Rate 7%
$2,859,514
$2.9M
Cap Rate 9%
$2,224,067
$2.2M
Market Conditions
NOI Build-Up for 14,517 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
$355.4K $24.48/SF
− Vacancy
−$88.5K −$6.10/SF
EGI
$266.9K $18.38/SF
− OpEx
−$66.7K −$4.60/SF
NOI
$200.2K $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%
$4,003,320
Cap Rate 7%
$2,859,514
Cap Rate 9%
$2,224,067
Alternative Uses
Best Use
Office B
$2.86M
$2.50M – $3.34M
NOI $200,166 @ 7.0% cap · market cap 7.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.01M
$4.39M – $5.85M
NOI $350,844 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
Explore this area
Business Placement
Demographics for 60137, IL
38,985
Population
15,049
Households
2.6
Avg Household Size
41
Median Age
64%
College-Educated
95%
High-School Grad
11.0 sq mi
ZIP Area
3,544
Density / Sq Mi
$131,695
Median Household Income
$68,931
Median Earnings
$1,321
Median Rent
$490,800
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 - 14,517 SF office building constructed in 2005, prime owner/user opportunity.
Where is this office building located?
The property is located at 739 North Avenue Glendale Heights, IL.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Modern 14,517 SF office building constructed in 2005.; Prime owner/user opportunity.; Strategic location in Glendale Heights with easy access to amenities.
