Single-Story Office Building For
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18501 Maple Creek Dr, Tinley Park, IL 60477
Single-story office building in Tinley Park, Illinois, 100% leased.
Property Size38,079 SF
Price / SF$166.74
Days on Market708
Property Features for 18501 Maple Creek Dr
General Information
Standard status
Active
Size
38,079 SF
Class
B
Total Parking Spaces
156
Property subtype
Office
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$399,489
Building Details
Year Built
2002
Buildings
1
Stories
1
Units
7
Tenancy
Multi
Listing Agency:
CapRock Real Estate
(312) 257-3252
Listed By:
Brian Goldman · License #IL471.018140
Source:
Crexi
Added: Sep 12, 2024
Changed: Aug 10
Last Checked: Aug 19 at 6:10PM
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 CapRock Real Estate
Investment Insights
Based on property information with market context.
The North Creek Executive Center is a single-story office building constructed in 2002. The property is located at 18501 Maple Creek Drive in Tinley Park, Illinois, northwest of the intersection of Harlem Avenue and I-80, providing easy access. The building has a total area of 38079 square feet and is currently 100% leased. Nearby infrastructure includes the I-80 Expressway, Brookdale Marketside (TJ Maxx, Dick’s Sporting Goods, Marshalls & Best Buy), the 80th Ave Train Station, and the Tinley Park Convention Center.
Key Highlights
- 100% leased single‑story office building.
- Strategic location near the intersection of Harlem Avenue and I‑80.
- Easy and quick access to I‑80.
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
$525,047
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
8.27%
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%
$10,500,940
$10.5M
Cap Rate 7%
$7,500,671
$7.5M
Cap Rate 9%
$5,833,856
$5.8M
Market Conditions
NOI Build-Up for 38,079 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
$932.2K $24.48/SF
− Vacancy
−$232.1K −$6.10/SF
EGI
$700.1K $18.38/SF
− OpEx
−$175.0K −$4.60/SF
NOI
$525.0K $13.79/SF
Area
Cook 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%
$10,500,940
Cap Rate 7%
$7,500,671
Cap Rate 9%
$5,833,856
Alternative Uses
Best Use
Office B
$7.50M
$6.56M – $8.75M
NOI $525,047 @ 7.0% cap · market cap 8.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.15M
$11.50M – $15.34M
NOI $920,286 @ 7.0% cap · market cap 14.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
585
Businesses Nearby
Explore this area
Business Placement
Demographics for 60477, IL
37,335
Population
16,261
Households
2.3
Avg Household Size
43
Median Age
34%
College-Educated
95%
High-School Grad
14.2 sq mi
ZIP Area
2,629
Density / Sq Mi
$93,862
Median Household Income
$57,381
Median Earnings
$1,485
Median Rent
$262,400
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 building - Single-story office building in Tinley Park, Illinois, 100% leased.
Where is this office building located?
The property is located at 18501 Maple Creek Dr Tinley Park, IL.
What is the asking price?
The asking price for this property is $6,349,451.
What are key features of this property?
This property features: 100% leased single‑story office building.; Strategic location near the intersection of Harlem Avenue and I‑80.; Easy and quick access to I‑80.
