Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Downtown Geneva Economical Office Space Title is generated by Realmo AI

    322-324 W State Street, Geneva, IL 60134

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Small office spaces in downtown Geneva, full-service lease.

    Type:Retail, Office
    Added:
    Aug 1, 2018
    Days on Market:
    2867
    Last Refresh:
    May 19 at 10:23 pm

    Property Features for 322-324 W State Street

    General Information

    Standard status
    Active
    Property subtype
    Retail, Office

    Building Details

    Year Built
    1920

    Spaces For Lease

    at 322-324 W State Street Contact us

    We can help!

    Listing Contact
    Neil Johnson

    Listing agent Neil Johnson

    Listing office SVN Landmark Commercial Real Estate

    Listing date Aug 1, 2018

    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 SVN Landmark Commercial Real Estate

    HighLights

    • "Full Service" rent includes all operating expenses and utilities.
    • Prime downtown Geneva location near Metra, courthouse, restaurants, and shopping.
    • Economical, small office space.
    • Nicely finished, lower level offices.
    • Flexible space: combine individual spaces as needed.
    • Adjacent public parking lot with 9‑hour parking.

    Overview

    Economical small office spaces are available in downtown Geneva. The property features finished lower-level offices. Individual spaces can be combined. The full-service lease includes all operating expenses and utilities. Stated sizes reflect actual unit square footage without a common area factor. The property is located in downtown Geneva on the west side of the Fox River, on State Street (Route 38) between Third and Fourth Streets, next to Aurelio's Pizza restaurant. It is within walking distance of the Metra train, courthouse, restaurants, and shopping. An adjacent public parking lot offers some 9-hour parking.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Geneva
    County
    Kane
    State
    Illinois
    Longitude
    -88.3087902
    Latitude
    41.8876537

    Nearby Similar for Lease

    • Contact for pricing
      1,025 SF

      Geneva Office/Retail Space Available

      High-visibility Geneva office/retail space with ample parking.
      415 E State Street, Geneva, IL 60134
      View Details
    • Contact for pricing

      Historic Office Space in Geneva

      Office space for lease in historic downtown Geneva building.
      215 Fulton Street, Geneva, IL 60134
      View Details
    • $22 SF/Yr
      5,372 SF

      Retail/Office Space in Geneva

      Newly renovated retail/office space with high visibility and parking.
      830 E State St, Geneva, IL 60134
      View Details
    • $24 SF/Yr
      1,200 SF

      Furnished Office Space in Geneva

      Executive office suite in historic building, suitable for professional uses.
      311-317 S 3rd St, Geneva, IL
      View Details
    • $2,025/Mo

      Downtown Geneva Office Space Available

      Office space in the heart of downtown Geneva.
      319 W. State Street, Geneva, IL 60134
      View Details
    • $22 SF/Yr
      1,269 SF

      Retail Space on Randall Road

      Retail space available for lease with excellent visibility.
      1792 S Randall Rd, Geneva, IL
      View Details
    • Contact for pricing

      Geneva Office Space For Rent

      Second-floor office space near Kane County buildings and courthouse.
      610 S 3rd Street, Geneva, IL 60134
      View Details
    • Contact for pricing

      Modern Office Space in Geneva

      Premier leasing opportunity with modern amenities and convenient location.
      115 Campbell Street | Geneva, IL 60134
      View Details
    • $17 SF/Yr
      1,450 SF

      Move-in Ready Medical Office Space

      Efficient medical office space available for lease.
      2172 Blackberry Dr, Geneva, IL
      View Details
    • Contact for pricing

      Downtown Geneva Professional Office Suite

      Professional office suite in a prominent downtown Geneva building.
      524 W State St, Geneva, IL 60134
      View Details
    • $11 SF/Yr
      5,000 SF

      Geneva Flex/Industrial Space Available

      5,000 SF flex/industrial space for lease in Geneva, IL.
      33 Roosevelt Rd, Geneva, IL
      View Details
    • Contact for pricing

      Dominant Retail Center For Rent

      Retail spaces available for lease in a dominant shopping center.
      1460 South Randall Road | Geneva, IL 60134
      View Details

    FAQs

    What type of property is this?
    Office units - Small office spaces in downtown Geneva, full-service lease.
    Where is this office units located?
    The property is located at 322-324 W State Street Geneva, IL.
    What are key features of this property?
    This property features: "Full Service" rent includes all operating expenses and utilities.; Prime downtown Geneva location near Metra, courthouse, restaurants, and shopping.; Economical, small office space.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Neil Johnson
    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

    Thank You for Inquiry
    322-324 W State Street, Geneva, IL 60134
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!