Building Details

Year Built 2004

Listing Agency: IL Realty Kurchina & Associates

Listed By: Wayne Kurchina · License #IL 471.000538 Show Phone

Source: Crexi

Added: Feb 8, 2019 Changed: Oct 14 Last Checked: Oct 16 at 7:49AM

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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 IL Realty Kurchina & Associates

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Investment Insights

Based on property information with market context.

This is a new medical office suite with 1425 square feet of space. It can be configured to your specifications. Drawings are available for a build out with a reception area, waiting room, private physician office, treatment and procedure rooms, as well as a medical records storage area. The property is located in a growing residential and commercial area, serving Lake, Cook, and McHenry Counties. The property is intended for use as a medical office.

Key Highlights

• New medical office suite, customizable to specifications.
• Drawings available for pre‑designed build‑out including reception, waiting room, office, treatment rooms, and records storage.
• Located in a growing residential and commercial area.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,648

Cap Rate

5.28%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$392,960 $393.0K

Cap Rate 7%

$280,686 $280.7K

Cap Rate 9%

$218,311 $218.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,425 SF

Gross rent

$34.9K $24.48/SF

− Vacancy

−$8.7K −$6.10/SF

EGI

$26.2K $18.38/SF

− OpEx

−$6.5K −$4.60/SF

NOI

$19.6K $13.79/SF

Area

McHenry 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 Rate 5%

$392,960

Cap Rate 7%

$280,686

Cap Rate 9%

$218,311

Alternative Uses

Best Use

Office B

$280.7K

$245.6K – $327.5K (±1% cap)

NOI $19,648 @ 7.0% cap · market cap 5.28%

Second Best

Healthcare Medical

$275.5K

$241.1K – $321.4K (±1% cap)

NOI $19,284 @ 7.0% cap · market cap 5.18%

Theoretical Best

Office A

$492.0K

$430.5K – $574.0K (±1% cap)

NOI $34,439 @ 7.0% cap · market cap 9.26%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Medical Office Space

Location Intelligence

Trade Area within ½ mile

215

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 60021, IL

5,404

Population

1,968

Households

2.7

Avg Household Size

42

Median Age

42%

College-Educated

98%

High-School Grad

2.0 sq mi

ZIP Area

2,702

Density / Sq Mi

$122,005

Median Household Income

$59,030

Median Earnings

$2,134

Median Rent

$286,400

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - New medical office suite in growing residential and commercial area.

Where is this medical office space located?

The property is located at 912 W Northwest Hwy Suite-204 Fox River Grove, IL.

What is the asking price?

The asking price for this property is $372,000.

What are key features of this property?

This property features: New medical office suite, customizable to specifications.; Drawings available for pre‑designed build‑out including reception, waiting room, office, treatment rooms, and records storage.; Located in a growing residential and commercial area.