Freestanding Brick Commercial Building For
10 S Virginia Rd Crystal Lake, IL 60014
10 S Virginia Rd, Crystal Lake, IL, 60014
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For Sale
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Freestanding brick building with lease in place on Virginia Road.
Property Size1,320 SF
Price / SF$175
Days on Market1349
Property Features for 10 S Virginia Rd
General Information
- Standard status
- Active
- Size
- 1,320 SF
- Property subtype
- Office
Building Details
- Year Built
- 1971
Listing Agency
Blue Chip Commercial Real Estate LLC
Listed by
Tim Billimack · License #IL 471000637
Source
Crexi
Added: Nov 9, 2022 Updated: Jul 10 at 11:23 am Checked: Jul 19 at 2:49 am
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 Blue Chip Commercial Real Estate LLC
Investment Insights
Based on property information with market context.
This freestanding all-brick commercial building is situated on Virginia Road, presenting an investment opportunity with a 5-year lease currently in place, including an option to terminate after 3 years. The property is located in a mixed-use neighborhood with national and reputable independent restaurants nearby. It features a rear employee parking lot with 16 spaces. The interior includes private offices, a reception area, an open workspace, and a kitchenette. The surrounding area is characterized by an affluent population, with the average household income exceeding $101,978 within a 2-mile radius. The property is suitable for commercial use.
Key Highlights
- 5 year lease in place (option to terminate after 3 years) - provides immediate income and flexibility
- Freestanding all brick commercial building - offers durability and a professional appearance
- Rear employee parking lot with 16 spaces - ample parking for employees
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.3k | $24.48 |
| − Vacancy | −$8.0k | −$6.10 |
| EGI | $24.3k | $18.38 |
| − OpEx | −$6.1k | −$4.60 |
| NOI | $18.2k | $13.79 |
1,320 SF · lease $24.48/SF/yr · vacancy 24.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$260.0K
$227.5K – $303.4K
NOI $18,201 @ 7.0% cap · market cap 7.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$455.7K
$398.8K – $531.7K
NOI $31,902 @ 7.0% cap · market cap 13.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
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FAQs
What type of property is this?
Office building - Freestanding brick building with lease in place on Virginia Road.
Where is this office building located?
The property is located at 10 S Virginia Rd Crystal Lake, IL.
What is the asking price?
The asking price for this property is $231,000.
What are key features of this property?
This property features: 5 year lease in place (option to terminate after 3 years) - provides immediate income and flexibility; Freestanding all brick commercial building - offers durability and a professional appearance; Rear employee parking lot with 16 spaces - ample parking for employees
