Mokena Office Unit For
For Sale
Contact for pricing
9980 190th St, Mokena, IL 60448
Office unit with existing lease and convenient access.
Property Size1,990 SF
Price / SF$200
Days on Market684
Property Features for 9980 190th St
General Information
Standard status
Active
Size
1,990 SF
Class
B
Property subtype
Office
Zoning
I-1
Occupancy
100%
Lease Type
Gross
Investment Type
Stabilized
Building Details
Year Built
2010
Buildings
1
Stories
1
Units
3
Listing Agency:
Olivieri Real Estate LLC
Listed By:
Jackie Montvidas · License #IL 705768
Source:
Crexi
Added: Sep 27, 2024
Changed: Aug 8
Last Checked: Aug 10 at 2:47PM
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 Olivieri Real Estate LLC
Investment Insights
Based on property information with market context.
The property at 9980 190th St, Mokena, IL 60448, identified as Unit A, offers 1990 square feet of commercial space suitable for office use. The layout includes a waiting area, a conference room of considerable size, and two private offices. The unit contains two restrooms and benefits from two points of entry, facilitating access. Monument signage provides visibility, and ample parking is available on the well-maintained lot. The property is currently occupied by a tenant with three years remaining on the lease, presenting an opportunity for investors or future occupants.
Key Highlights
- Three years remaining on current tenant's lease provides immediate investment income.
- 1990 sq ft layout includes waiting area, conference room, two private offices, and two restrooms.
- Two points of entry offer easy access.
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
$23,906
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
6.01%
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%
$478,120
$478.1K
Cap Rate 7%
$341,514
$341.5K
Cap Rate 9%
$265,622
$265.6K
Market Conditions
NOI Build-Up for 1,990 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
$44.9K $22.56/SF
− Vacancy
−$13.0K −$6.54/SF
EGI
$31.9K $16.02/SF
− OpEx
−$8.0K −$4.00/SF
NOI
$23.9K $12.01/SF
Area
Will County, IL
Vacancy
29.00%
Lease Rate
$22.56 /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%
$478,120
Cap Rate 7%
$341,514
Cap Rate 9%
$265,622
Alternative Uses
Best Use
Office B
$341.5K
$298.8K – $398.4K
NOI $23,906 @ 7.0% cap · market cap 6.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$451.3K
$394.9K – $526.6K
NOI $31,593 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
Explore this area
Business Placement
Demographics for 60448, IL
25,512
Population
9,196
Households
2.8
Avg Household Size
43
Median Age
43%
College-Educated
98%
High-School Grad
18.3 sq mi
ZIP Area
1,394
Density / Sq Mi
$126,483
Median Household Income
$56,490
Median Earnings
$1,400
Median Rent
$369,700
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 units - Office unit with existing lease and convenient access.
Where is this office units located?
The property is located at 9980 190th St Mokena, IL.
What is the asking price?
The asking price for this property is $398,000.
What are key features of this property?
This property features: Three years remaining on current tenant's lease provides immediate investment income.; 1990 sq ft layout includes waiting area, conference room, two private offices, and two restrooms.; Two points of entry offer easy access.
