Medical Office
For Sale
$495,000
828 N Cass Avenue, Westmont, IL 60559
Commercial Sale, Westmont, IL
Property Size2,500 SF
Lot Size0.34 Acres
Price / SF$198
Days on Market156
Property Features for 828 N Cass Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
OFFIC
Directions
88 (W) to 83 (S) to Ogden Ave (W) to Cass Ave (N) to 828 N. Cass Ave
Subdivision
Westmont
Standard status
Active
APN
0904223002
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6726
Utilities
Cooling system
Central Air
Building Details
Year built
2009
Floors in Building
1
Number of units
1
Flooring type
Carpet
Listing Agency:
Pearson Realty Group
(773) 325-2800
Listed By:
David McLennan · License #475165323
(773) 325-2800
Added: Mar 19
Changed: Aug 21
Last Checked: Aug 21 at 4:06PM
MLS# 12591064
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This medical office condominium has operated as an ophthalmology practice and was constructed in 2009. The approximately 1,500-square-foot main level includes two reception and waiting areas, two offices, a reception and records area, three exam rooms, and a separate restroom. A finished basement adds approximately 1,000 square feet of primarily open space with high ceilings. Two additional handicapped-accessible restrooms are located near the west entrance, and the building was designed for handicapped accessibility. Interior finishes include carpet, with central air conditioning serving the property.
The property is positioned on Cass Avenue in Westmont, less than 1/2 mile from Duly Health and Care and within several miles of multiple medical facilities. The paved lot provides 16 striped private parking spaces, including two handicapped spaces, shared with the neighboring Periodontist office. The condominium is zoned OFFIC, and the two owners hold undivided 50% interests in the approximately 0.34-acre parcel.
The property is positioned on Cass Avenue in Westmont, less than 1/2 mile from Duly Health and Care and within several miles of multiple medical facilities. The paved lot provides 16 striped private parking spaces, including two handicapped spaces, shared with the neighboring Periodontist office. The condominium is zoned OFFIC, and the two owners hold undivided 50% interests in the approximately 0.34-acre parcel.
Key Highlights
- Medical office condominium constructed in 2009
- Approximately 1,500 SF main level plus approximately 1,000 SF finished basement
- Three exam rooms, two offices, reception areas, and records space
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
$34,471
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
6.96%
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%
$689,420
$689.4K
Cap Rate 7%
$492,443
$492.4K
Cap Rate 9%
$383,011
$383.0K
Market Conditions
NOI Build-Up for 2,500 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
$61.2K $24.48/SF
− Vacancy
−$15.2K −$6.10/SF
EGI
$46.0K $18.38/SF
− OpEx
−$11.5K −$4.60/SF
NOI
$34.5K $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%
$689,420
Cap Rate 7%
$492,443
Cap Rate 9%
$383,011
Alternative Uses
Best Use
Office B
$492.4K
$430.9K – $574.5K
NOI $34,471 @ 7.0% cap · market cap 6.96%
Second Best
Healthcare Medical
$473.1K
$414.0K – $552.0K
NOI $33,120 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$863.1K
$755.3K – $1.01M
NOI $60,420 @ 7.0% cap · market cap 12.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Established medical suite with exam rooms, reception areas, finished lower-level space, and accessible building features.
Where is this medical office space located?
The property is located at 828 N Cass Avenue 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: Medical office condominium constructed in 2009; Approximately 1,500 SF main level plus approximately 1,000 SF finished basement; Three exam rooms, two offices, reception areas, and records space
