Long-Term Tenant, Landmark
For Sale
$8,000,000
9009 Ogden Avenue, Brookfield, IL 60513
Tenant renewed lease through 2034, near Metra stations.
Property Size18,063 SF
Days on Market192
Property Features for 9009 Ogden Avenue
General Information
Standard status
Active
Size
18,063 SF
Property subtype
Retail
Building Details
Building Size
18,063 SF
Listed By:
Paul P. Partyka, CCIM, MiCP, CIPS
(407) 341-0805
Source:
Realvest
Added: Feb 26
Changed: Aug 31
Last Checked: Sep 5 at 4:17AM
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 Paul P. Partyka, CCIM, MiCP, CIPS
Investment Insights
Based on property information with market context.
This commercial property features a long-term tenant that has been in place since 1991 and has recently renewed their lease for an extended term of 10 years, running through 2034. The property operates at a 5.7% cap rate for the current year, with an increase to 6.7% anticipated. The lease includes a 2% annual increase on rent, along with two 5-year renewal options starting in 2035. The tenant is a national credit tenant, identified as the 3rd largest bank holding company in the US, possessing over $2 trillion in assets and holding a Moody's rating of Aa3 with a stable outlook. The property provides excellent parking facilities. It is a landmark building designed by a student of Frank Lloyd Wright. The location is a double corner, which includes a separate drive-thru parcel. The property is located within walking distance of both the Metra Brookfield and Congress Park stations.
Key Highlights
- Leased to a national credit tenant, the 3rd largest bank holding company in the US.
- Long‑term lease through 2034 with renewal options extending the investment.
- 5.7% cap rate, with 2% annual rent increases growing to 6.7%.
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
$302,375
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
3.78%
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%
$6,047,500
$6.0M
Cap Rate 7%
$4,319,643
$4.3M
Cap Rate 9%
$3,359,722
$3.4M
Market Conditions
NOI Build-Up for 18,063 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
$433.5K $24.00/SF
− Vacancy
−$30.3K −$1.68/SF
EGI
$403.2K $22.32/SF
− OpEx
−$100.8K −$5.58/SF
NOI
$302.4K $16.74/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$24.00 /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%
$6,047,500
Cap Rate 7%
$4,319,643
Cap Rate 9%
$3,359,722
Alternative Uses
Best Use
Specialty Retail
$4.32M
$3.78M – $5.04M
NOI $302,375 @ 7.0% cap · market cap 3.78%
Second Best
Retail
$3.58M
$3.13M – $4.18M
NOI $250,717 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$6.24M
$5.46M – $7.28M
NOI $436,543 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
764
Businesses Nearby
11k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Mobil
Shops & Services
9,676 visits/mo
0.5 miles
REBEL Convenience Store
Shops & Services
1,051 visits/mo
0.5 miles
Demographics for 60513, IL
19,514
Population
8,025
Households
2.4
Avg Household Size
40
Median Age
42%
College-Educated
94%
High-School Grad
3.2 sq mi
ZIP Area
6,098
Density / Sq Mi
$108,527
Median Household Income
$63,410
Median Earnings
$1,334
Median Rent
$314,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Bank - Tenant renewed lease through 2034, near Metra stations.
Where is this bank located?
The property is located at 9009 Ogden Avenue Brookfield, IL.
What is the asking price?
The asking price for this property is $8,000,000.
What are key features of this property?
This property features: Leased to a national credit tenant, the 3rd largest bank holding company in the US.; Long‑term lease through 2034 with renewal options extending the investment.; 5.7% cap rate, with 2% annual rent increases growing to 6.7%.
