Medical Office Suite For
For Sale
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912 W Northwest Hwy Suite-204, Fox River Grove, IL 60021
New medical office suite in growing residential and commercial area.
Property Size1,425 SF
Price / SF$261.05
Days on Market2763
Property Features for 912 W Northwest Hwy Suite-204
General Information
Standard status
Active
Size
1,425 SF
Property subtype
Office
Lease Type
NNN
Building Details
Year Built
2004
Listing Agency:
IL Realty Kurchina & Associates
Listed By:
Wayne Kurchina · License #IL 471.000538
(847) 912-1313
Source:
Crexi
Added: Feb 8, 2019
Changed: Aug 27
Last Checked: Sep 1 at 12:16AM
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
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 = 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
$19,648
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
5.28%
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%
$392,960
$393.0K
Cap Rate 7%
$280,686
$280.7K
Cap Rate 9%
$218,311
$218.3K
Market Conditions
NOI Build-Up for 1,425 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
$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 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%
$392,960
Cap Rate 7%
$280,686
Cap Rate 9%
$218,311
Alternative Uses
Best Use
Office B
$280.7K
$245.6K – $327.5K
NOI $19,648 @ 7.0% cap · market cap 5.28%
Second Best
Healthcare Medical
$275.5K
$241.1K – $321.4K
NOI $19,284 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$492.0K
$430.5K – $574.0K
NOI $34,439 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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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.
