Multi-Unit Office
For Sale
$1,510,000
850 W Bartlett Road, Bartlett, IL 60103
Well-maintained 20-unit office building with only one vacant suite and a mix of private offices, conference rooms, and open workspace.
Property Size9,496 SF
Price / SF$159.01
Days on Market183
Property Features for 850 W Bartlett Road
General Information
Standard status
Active
Size
9,496 SF
Property subtype
Commercial
Zoning
OFFIC
Occupancy
95%
Additional Details
Office Units
20
Taxes and HOA fees
Annual Taxes
$37,050
Building Details
Building Size
9,496 SF
Year Built
1979
Stories
1
Units
20
Tenancy
Multi
Listing Agency:
Premier Commercial Realty
(847) 854-2300
Listed By:
Sharon Glasshof · License #471012471
(847) 854-2300
Source:
Birdrealtysells
Added: Feb 24
Changed: Aug 14
Last Checked: Aug 25 at 8:51AM
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 Premier Commercial Realty
Investment Insights
Based on property information with market context.
This well-maintained 20-unit office building offers a mix of private offices, conference rooms, and open workspaces designed to support day-to-day professional use. The property is described as having modern interior design and modern amenities throughout, with ample parking available for tenant and visitor access. Only one suite is currently vacant, representing 19 leased units within the building.
Additional details provided include easy accessibility and ample on-site parking. For a complete financial overview and rent roll, please call for information.
Additional details provided include easy accessibility and ample on-site parking. For a complete financial overview and rent roll, please call for information.
Key Highlights
- 20‑unit office building totaling 9,496 SF, built in 1979
- Strong occupancy with only 1 vacant suite (250 SF)
- Tenant‑ready layout includes private offices, conference rooms, and open workspaces
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
$130,934
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
8.67%
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%
$2,618,680
$2.6M
Cap Rate 7%
$1,870,486
$1.9M
Cap Rate 9%
$1,454,822
$1.5M
Market Conditions
NOI Build-Up for 9,496 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
$232.5K $24.48/SF
− Vacancy
−$57.9K −$6.10/SF
EGI
$174.6K $18.38/SF
− OpEx
−$43.6K −$4.60/SF
NOI
$130.9K $13.79/SF
Area
Cook 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%
$2,618,680
Cap Rate 7%
$1,870,486
Cap Rate 9%
$1,454,822
Alternative Uses
Best Use
Office B
$1.87M
$1.64M – $2.18M
NOI $130,934 @ 7.0% cap · market cap 8.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.28M
$2.87M – $3.82M
NOI $229,498 @ 7.0% cap · market cap 15.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20
Office units
95%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
Explore this area
Business Placement
Demographics for 60103, IL
41,740
Population
14,995
Households
2.8
Avg Household Size
41
Median Age
48%
College-Educated
95%
High-School Grad
18.4 sq mi
ZIP Area
2,268
Density / Sq Mi
$131,552
Median Household Income
$64,113
Median Earnings
$1,851
Median Rent
$353,300
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 - Well-maintained 20-unit office building with only one vacant suite and a mix of private offices, conference rooms, and open workspace.
Where is this office building located?
The property is located at 850 W Bartlett Road Bartlett, IL.
What is the asking price?
The asking price for this property is $1,510,000.
What are key features of this property?
This property features: 20‑unit office building totaling 9,496 SF, built in 1979; Strong occupancy with only 1 vacant suite (250 SF); Tenant‑ready layout includes private offices, conference rooms, and open workspaces
