20-Unit Office
For Sale
$1,510,000
850 W Bartlett Rd, Bartlett, IL 60103
Well-maintained office building with mostly leased suites, including three vacant suites totaling 850 SF.
Property Size9,496 SF
Price / SF$159.01
Days on Market61
Property Features for 850 W Bartlett Rd
General Information
Standard status
Active
Size
9,496 SF
Occupancy
85%
Additional Details
Office Units
20
Building Details
Year Built
1979
Buildings
1
Building Size
9,496 SF
Tenancy
Multi
Listing Agency:
Premier Commercial Realty
Listed By:
Sharon Glasshof · License #471012477
(847) 533-6974
Source:
Bktchicago
Added: Jul 29
Changed: Sep 10
Last Checked: Sep 26 at 1:19PM
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 spacious, functional layout designed for professional services. The interior includes multiple private offices, conference rooms, and open workspaces, along with modern amenities to support day-to-day operations.
The property totals 9,496 SF and has ample parking with easy accessibility. Currently, three units are available for lease, and there are only three vacant suites totaling 850 SF.
For buyers evaluating an investment strategy, the offering includes an 8.3% Proforma CAP Rate with a 12% loss factor. Call for financials and the rent roll.
The property totals 9,496 SF and has ample parking with easy accessibility. Currently, three units are available for lease, and there are only three vacant suites totaling 850 SF.
For buyers evaluating an investment strategy, the offering includes an 8.3% Proforma CAP Rate with a 12% loss factor. Call for financials and the rent roll.
Key Highlights
- 9,496 SF office building with 20 units
- Three vacant suites totaling 850 SF
- Currently three units available for lease
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
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Open Analytics
Current Use
Lease Details
20
Office units
85%
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Well-maintained office building with mostly leased suites, including three vacant suites totaling 850 SF.
Where is this office building located?
The property is located at 850 W Bartlett Rd 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: 9,496 SF office building with 20 units; Three vacant suites totaling 850 SF; Currently three units available for lease
