Three-Suite Storefront
New
For Sale
$990,000
8 S Prospect Avenue, Clarendon Hills, IL 60514
B-1-zoned commercial building with multiple suites, basement work areas, and a vacant suite available for occupancy.
Property Size3,528 SF
Days on Market7
Property Features for 8 S Prospect Avenue
General Information
Standard status
Active
Size
3,528 SF
Property subtype
COMMERCIAL
Zoning
B-1
Taxes and HOA fees
Annual Taxes
$11,187
Building Details
Building Size
3,528 SF
Year Built
1924
Buildings
1
Tenancy
Multi
Listing Agency:
Compass
Listed By:
Ann Pancotto · License #475121718
(630) 479-4393
Source:
Loncarrealty
Added: Sep 18
Changed: Sep 23
Last Checked: Sep 22 at 9:42PM
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 Compass
Investment Insights
Based on property information with market context.
Constructed in 1924, this storefront property contains three suites and is zoned B-1. Suites 6 and 8 each provide 1,614 square feet on the first level, along with an equal amount of basement space for storage or work use. Both suites include a bathroom, a small first-floor office, and 12-foot ceilings. Suite 6 is vacant and conveys with the items remaining in place. Suite 6 1/2 includes an office and reception area.
The building is located in downtown Clarendon Hills near the train station. The property is being offered in its existing condition, with the building described as being in good shape. Its combination of storefront suites, first-floor offices, and lower-level work areas supports a range of commercial configurations within the B-1 zoning district.
The building is located in downtown Clarendon Hills near the train station. The property is being offered in its existing condition, with the building described as being in good shape. Its combination of storefront suites, first-floor offices, and lower-level work areas supports a range of commercial configurations within the B-1 zoning district.
Key Highlights
- Three‑suite storefront building in downtown Clarendon Hills
- Suites 6 and 8 each include 1,614 square feet on the first level
- Each of Suites 6 and 8 has equal basement space for storage or work use
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
$48,969
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
4.95%
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%
$979,380
$979.4K
Cap Rate 7%
$699,557
$699.6K
Cap Rate 9%
$544,100
$544.1K
Market Conditions
NOI Build-Up for 3,528 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
$76.2K $21.60/SF
− Vacancy
−$6.2K −$1.77/SF
EGI
$70.0K $19.83/SF
− OpEx
−$21.0K −$5.95/SF
NOI
$49.0K $13.88/SF
Area
DuPage County, IL
Vacancy
8.20%
Lease Rate
$21.60 /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%
$979,380
Cap Rate 7%
$699,557
Cap Rate 9%
$544,100
Alternative Uses
Best Use
Retail
$699.6K
$612.1K – $816.2K
NOI $48,969 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,264 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
448
Businesses Nearby
4k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 62%
Dining 38%
Domino's Pizza
Dining
1,553 visits/mo
0.2 miles
Learning Express
Shops & Services
1,392 visits/mo
0.2 miles
Hallmark
Shops & Services
1,125 visits/mo
0.2 miles
Demographics for 60514, IL
10,320
Population
4,030
Households
2.6
Avg Household Size
41
Median Age
74%
College-Educated
99%
High-School Grad
2.0 sq mi
ZIP Area
5,160
Density / Sq Mi
$114,672
Median Household Income
$75,028
Median Earnings
$1,195
Median Rent
$568,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- The English Garden Flower Shop — 14 S Prospect Ave, Clarendon Hills, IL 60514
Frequently Asked Questions
What type of property is this?
Storefront property - B-1-zoned commercial building with multiple suites, basement work areas, and a vacant suite available for occupancy.
Where is this storefront property located?
The property is located at 8 S Prospect Avenue Clarendon Hills, IL.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Three‑suite storefront building in downtown Clarendon Hills; Suites 6 and 8 each include 1,614 square feet on the first level; Each of Suites 6 and 8 has equal basement space for storage or work use
