Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1501 N Main St Wheaton, IL 60187

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    End unit flex space in charming Main Street location.

    Type:Industrial
    Property size:
    2,405 SF
    Added:
    Sep 14, 2022
    Days on Market:
    1296
    Last Refresh:
    Mar 17 at 1:18 pm

    Property Features for 1501 N Main St

    General Information

    Standard status
    Active
    Size
    2,405 SF
    Property subtype
    Industrial

    Spaces For Lease

    at 1501 N Main St Contact us

    1517 N Main St $20 /Mo

    Size
    1,634 SF
    Type
    Industrial
    Contact us

    We can help!

    Listing Contact
    Mandy Lewandowski
    Mandy Lewandowski

    Listing agent Mandy Lewandowski License #IL 475114833

    Listing office DarwinPW Realty

    Listing date Sep 14, 2022

    Source Crexi

    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 DarwinPW Realty

    Overview

    Main Street Flex Space Available

    The property at 1501 Main Street offers 2,405 square feet of flex space as an end unit. It features parking at both the front and rear of the building. The location is on Main Street, situated between Roosevelt Road and Geneva Road, providing easy access. Traffic lights are present on Main Street at both Hawthorne Boulevard and Parkway Drive.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wheaton
    County
    DuPage
    State
    Illinois
    Longitude
    -88.1064377
    Latitude
    41.8802707

    Nearby Similar for Lease

    • Contact for pricing

      Newly Remodeled Office Suites

      Private office suites with all-inclusive rent in a professional setting.
      610 W Roosevelt Road unit: D2, Wheaton, IL 60187
      View Details
    • Contact for pricing

      Retail Space in Downtown Wheaton

      Prime retail space with high visibility and strong foot traffic.
      210 N Main Street, Wheaton, IL 60187
      View Details
    • $20/mo

      Retail Space on Main Street

      Retail space with parking in front and rear.
      Wheaton, IL 60187
      View Details
    • $20/mo

      Retail Space on Main Street

      Retail space available in a charming Main Street location.
      1501-1525 N. Main St & 105-107 Hawthorne Blvd, Wheaton, IL 60187
      View Details
    • $22/mo

      Retail Space in Wheaton, Illinois

      Retail space available for lease in Wheaton, Illinois.
      101-103 Front St., Wheaton, IL 60187
      View Details
    • $19/mo

      Office Space in Busy Corridor

      545 SF office space in a busy office corridor.
      416 E Roosevelt Rd, Wheaton, IL
      View Details
    • Contact for pricing

      Wheaton Restaurant Lease Opportunity

      Restaurant building for lease in Wheaton Danada trade area.
      50 East Loop Road, Wheaton, IL, 60189
      View Details
    • Contact for pricing

      Downtown Wheaton Office Space

      Standalone office building near Metra with ample parking.
      240 E Willow Ave, Wheaton, IL 60187
      View Details
    • $10/mo

      Office Space with Window Offices

      Office unit featuring a reception area and four window offices.
      2100 Manchester Rd, Wheaton, IL
      View Details
    • Contact for pricing

      Wheaton Retail Space For Rent

      Retail space available in the heart of Wheaton, Illinois.
      311-391 Town Sq, Wheaton, IL
      View Details
    • Contact for pricing

      Wheaton Retail Space For Rent

      Retail space in a dynamic, highly trafficked Wheaton location.
      91-301 Town Square, Wheaton, IL
      View Details
    • Contact for pricing

      Retail Space in Danada Trade

      Retail spaces available in well-located Danada trade area.
      1-49 Rice Lake Sq, Wheaton, IL
      View Details

    FAQs

    What type of property is this?
    Flex space - End unit flex space in charming Main Street location.
    Where is this flex space located?
    The property is located at 1501 N Main St Wheaton, IL.
    What are key features of this property?
    This property features: Charming Main Street location; End unit; Parking front and rear
    We can help!
    Listing Contact
    Mandy Lewandowski
    Mandy Lewandowski
    Real Estate License ID: IL 475114833
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!