Handicapped-Accessible Medical
For Sale
Contact for pricing
828 N Cass Ave, Westmont, IL 60559
Medical condo offering two exam rooms, reception areas at both entrances, and a finished basement with additional open space.
Property Size1,500 SF
Lot Size0.17 Acres
Price / SF$330
Days on Market171
Property Features for 828 N Cass Ave
General Information
Standard status
Active
Size
1,500 SF
Class
A
Total Parking Spaces
16
Lot size
0.17 Acres
Property subtype
Office
Occupancy
100%
Investment Type
Owner/User
Additional Details
Business Included
Yes
Office Units
2
Amenities
handicapped accessible restrooms
Building Details
Year Built
2009
Year Renovated
2009
Buildings
1
Stories
1
Units
1
Listing Agency:
Pearson Realty Group
Listed By:
David McLennan · License #IL 475165323
(773) 325-2800
Source:
Crexi
Added: Mar 22
Changed: Sep 2
Last Checked: Aug 31 at 1:00PM
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 Pearson Realty Group
Investment Insights
Based on property information with market context.
This commercial condo is currently operating as a long-established ophthalmology practice and is located in a building constructed in 2009. The space is designed to be handicapped accessible and includes two reception or waiting areas, one inside the east entrance and one inside the west entrance. Interior improvements include two office areas, reception/office personnel space, record storage, and three exam rooms, along with a finished basement totaling additional mainly open space with high ceilings. Handicapped accessible restrooms are located immediately inside the west entrance.
The property is served by a paved parking lot with striped spaces for 16 private vehicles, including two designated handicapped spaces. Parking is shared with the periodontist office occupying Unit 1A.
Each of the two condo units is responsible for its own gas and electric usage and property taxes. Exterior responsibilities, including landscaping and snow removal, are covered through the monthly HOA dues. There are two condo units in the building, and this listing represents one of those two commercial condos; the building itself is not for sale.
The property is served by a paved parking lot with striped spaces for 16 private vehicles, including two designated handicapped spaces. Parking is shared with the periodontist office occupying Unit 1A.
Each of the two condo units is responsible for its own gas and electric usage and property taxes. Exterior responsibilities, including landscaping and snow removal, are covered through the monthly HOA dues. There are two condo units in the building, and this listing represents one of those two commercial condos; the building itself is not for sale.
Key Highlights
- 2009‑built commercial condo designed to be handicapped accessible
- Interior features include 2 reception/waiting areas (east and west entrances), 2 office spaces, reception/office personnel area, record storage, and 3 exam rooms
- Approx. 1,500 SF main level plus an approx. 1,000 SF finished basement with mainly open space and high ceilings
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
$20,683
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
4.18%
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%
$413,660
$413.7K
Cap Rate 7%
$295,471
$295.5K
Cap Rate 9%
$229,811
$229.8K
Market Conditions
NOI Build-Up for 1,500 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
$36.7K $24.48/SF
− Vacancy
−$9.1K −$6.10/SF
EGI
$27.6K $18.38/SF
− OpEx
−$6.9K −$4.60/SF
NOI
$20.7K $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%
$413,660
Cap Rate 7%
$295,471
Cap Rate 9%
$229,811
Alternative Uses
Best Use
Office B
$295.5K
$258.5K – $344.7K
NOI $20,683 @ 7.0% cap · market cap 4.18%
Second Best
Healthcare Medical
$283.9K
$248.4K – $331.2K
NOI $19,872 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$517.9K
$453.2K – $604.2K
NOI $36,252 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,101
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60559, IL
24,363
Population
11,105
Households
2.2
Avg Household Size
39
Median Age
49%
College-Educated
95%
High-School Grad
4.7 sq mi
ZIP Area
5,184
Density / Sq Mi
$87,474
Median Household Income
$53,980
Median Earnings
$1,491
Median Rent
$356,400
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 - Medical condo offering two exam rooms, reception areas at both entrances, and a finished basement with additional open space.
Where is this medical office space located?
The property is located at 828 N Cass Ave Westmont, IL.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 2009‑built commercial condo designed to be handicapped accessible; Interior features include 2 reception/waiting areas (east and west entrances), 2 office spaces, reception/office personnel area, record storage, and 3 exam rooms; Approx. 1,500 SF main level plus an approx. 1,000 SF finished basement with mainly open space and high ceilings
