Office Building with Private
For Sale
$739,000
959 W Ogden Avenue, Naperville, IL 60563
Five private offices, conference space, a kitchenette, basement storage, and parking support a flexible professional setting.
Property Size2,048 SF
Price / SF$360.84
Days on Market187
Property Features for 959 W Ogden Avenue
General Information
Standard status
Active
Size
2,048 SF
Property subtype
Commercial
Zoning
COMMR
Taxes and HOA fees
Annual Taxes
$13,821
Building Details
Building Size
2,048 SF
Year Built
1950
Stories
2
Listing Agency:
Jameson Sotheby's International Realty
(630) 320-2829
Listed By:
Katie Minott
(630) 320-2829
Source:
Gia-sells
Added: Feb 12
Changed: Aug 17
Last Checked: Aug 17 at 11:47PM
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 Jameson Sotheby's International Realty
Investment Insights
Based on property information with market context.
The 2,048 SF office building at 959 W Ogden Avenue provides five private offices, a large conference room with a vaulted ceiling and fireplace, and a kitchenette. Two separate basement rooms add storage capacity. The property also includes a two-car garage and surface parking, with the building constructed in 1950 and finished in zoning designation COMMR.
Positioned along Ogden Avenue near Royal St. George, the property sits at the entrance to the Cress Creek subdivision. Downtown Naperville is approximately 1.5 miles away, while the I-88 interchange is 3 miles from the site. This location provides direct access to established local destinations and regional transportation routes.
Positioned along Ogden Avenue near Royal St. George, the property sits at the entrance to the Cress Creek subdivision. Downtown Naperville is approximately 1.5 miles away, while the I-88 interchange is 3 miles from the site. This location provides direct access to established local destinations and regional transportation routes.
Key Highlights
- 2,048 SF office building with five private offices
- Conference room features a vaulted ceiling and fireplace
- Two separate basement storage rooms and a kitchenette
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
$24,214
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
3.28%
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%
$484,280
$484.3K
Cap Rate 7%
$345,914
$345.9K
Cap Rate 9%
$269,044
$269.0K
Market Conditions
NOI Build-Up for 2,048 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
$42.8K $20.88/SF
− Vacancy
−$10.5K −$5.12/SF
EGI
$32.3K $15.76/SF
− OpEx
−$8.1K −$3.94/SF
NOI
$24.2K $11.82/SF
Area
Naperville, IL
Vacancy
24.50%
Lease Rate
$20.88 /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%
$484,280
Cap Rate 7%
$345,914
Cap Rate 9%
$269,044
Alternative Uses
Best Use
Office B
$345.9K
$302.7K – $403.6K
NOI $24,214 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$462.3K
$404.5K – $539.3K
NOI $32,360 @ 7.0% cap · market cap 4.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
736
Businesses Nearby
Explore this area
Business Placement
Demographics for 60563, IL
37,997
Population
16,911
Households
2.2
Avg Household Size
38
Median Age
66%
College-Educated
96%
High-School Grad
14.6 sq mi
ZIP Area
2,603
Density / Sq Mi
$106,207
Median Household Income
$71,782
Median Earnings
$1,786
Median Rent
$422,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Five private offices, conference space, a kitchenette, basement storage, and parking support a flexible professional setting.
Where is this office building located?
The property is located at 959 W Ogden Avenue Naperville, IL.
What is the asking price?
The asking price for this property is $739,000.
What are key features of this property?
This property features: 2,048 SF office building with five private offices; Conference room features a vaulted ceiling and fireplace; Two separate basement storage rooms and a kitchenette
