Two-Story Office Building with
9999 W Lincoln Highway, Frankfort, IL 60423
Two-story office building with finished basement and flexible layout.
Type:Commercial/Industrial
Property size:
8,400 SFPrice / SF:
$142/SF- Added:
- Mar 12, 2026
- Days on Market:
- 72
- Last Refresh:
- Apr 6 at 2:51 am
Property Features for 9999 W Lincoln Highway
General Information
- Standard status
- Active
- Size
- 8,400 SF
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 2007
Listing agent Stephen Harris License #475099011
Listing office RE/MAX 1st Service (708) 675-1600
Listing date Mar 12, 2026
Source Exitrealty
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 RE/MAX 1st Service
HighLights
- Two‑story building with a separate entrance for the second floor, allowing for potential rental income.
- Finished basement with offices, kitchen, conference room, computer room, and storage, offering additional workspace.
- First floor features a reception area, 6 private offices, a large open area with workstations, a conference room, a copy room, 2 bathrooms, and an elevator.
- The second floor includes 3 private offices, a large open area with workstations, and a bathroom.
- The basement has room to convert a large storage area into additional workspaces.
- Built in 2007.
Overview
This two-story office building features finished spaces on both floors and a mostly finished full basement. The first floor includes a reception/waiting area, six private offices, a large open area with workstations, a conference room, a copy room, two bathrooms, and an elevator. The second story, accessible via a separate entrance, contains three private offices, a large open area with workstations, and a bathroom, offering the potential for separate rental. The full basement is mostly finished and includes three private offices, a kitchen, a conference room, a computer room, and ample storage space. There is also an area in the basement that could be converted from storage to additional workspace. The property has a total size of 8400 square feet.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$1.12M
NOI $100,911 @ 9.00% cap · cautious / downside scenario
Moderate
$1.44M
NOI $100,911 @ 7.00% cap · market / base-case scenario
Aggressive
$2.02M
NOI $100,911 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $189.5k | $22.56 |
| − Vacancy | −$55.0k | −$6.54 |
| EGI | $134.5k | $16.02 |
| − OpEx | −$33.6k | −$4.00 |
| NOI | $100.9k | $12.01 |
8,400 SF · lease $22.56/SF/yr · vacancy 29.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$1.44M
$1.26M – $1.68M
NOI $100,911 @ 7.0% cap · market cap 8.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.91M
$1.67M – $2.22M
NOI $133,358 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Office buildings
Location Insight
- Map
- Local Demand
- City
- Frankfort
- County
- Will
- State
- Illinois
- Longitude
- -87.8598
- Latitude
- 41.5057
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Two-story office building with finished basement and flexible layout.
Where is this office building located?
The property is located at 9999 W Lincoln Highway Frankfort, IL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two‑story building with a separate entrance for the second floor, allowing for potential rental income.; Finished basement with offices, kitchen, conference room, computer room, and storage, offering additional workspace.; First floor features a reception area, 6 private offices, a large open area with workstations, a conference room, a copy room, 2 bathrooms, and an elevator.
