Office Building with Separate Upper-Level
New
For Sale
$1,200,000
9999 W Lincoln Hwy, Frankfort, IL 60423
A flexible three-level layout includes private offices, shared work areas, and an independently accessible second floor.
Property Size7,500 SF
Price / SF$160
Days on Market6
Property Features for 9999 W Lincoln Hwy
General Information
Standard status
Active
Size
7,500 SF
Building Details
Year Built
2007
Listing Agency:
RE/MAX 1st Service
Listed By:
Stephen Harris · License #475099011
(708) 935-6998
Source:
Bktchicago
Added: Sep 30
Last Checked: Oct 4 at 1:58PM
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
Investment Insights
Based on property information with market context.
Built in 2007, this two-story office building includes a mostly finished basement. The first floor offers a reception and waiting area, six private offices, an open workstation area, a conference room, a copy room, two bathrooms, and an elevator. The upper floor has its own entrance and includes three private offices, an open workstation area, and a full bathroom; it can be leased separately from the rest of the building.
The basement adds three private offices, a kitchen, a bathroom, a conference room, a computer room, and substantial storage. Part of the storage area could be converted to workspace. The property contains 7,500 square feet and is located within the Presidents Row office complex in Frankfort, Illinois.
The basement adds three private offices, a kitchen, a bathroom, a conference room, a computer room, and substantial storage. Part of the storage area could be converted to workspace. The property contains 7,500 square feet and is located within the Presidents Row office complex in Frankfort, Illinois.
Key Highlights
- 7,500‑square‑foot office building completed in 2007
- Two above‑grade floors plus a mostly finished basement
- Upper floor has a separate entrance and can be rented independently
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$90,099
Cap Rate
7.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,801,980
$1.8M
Cap Rate 7%
$1,287,129
$1.3M
Cap Rate 9%
$1,001,100
$1.0M
Market Conditions
NOI Build-Up for 7,500 SF
Gross rent
$169.2K $22.56/SF
− Vacancy
−$49.1K −$6.54/SF
EGI
$120.1K $16.02/SF
− OpEx
−$30.0K −$4.00/SF
NOI
$90.1K $12.01/SF
Area
Will County, IL
Vacancy
29.00%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,801,980
Cap Rate 7%
$1,287,129
Cap Rate 9%
$1,001,100
Alternative Uses
Best Use
Office B
$1.29M
$1.13M – $1.50M
NOI $90,099 @ 7.0% cap · market cap 7.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.49M – $1.98M
NOI $119,070 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,035
Businesses Nearby
Explore this area
Business Placement
Demographics for 60423, IL
32,784
Population
11,494
Households
2.9
Avg Household Size
42
Median Age
48%
College-Educated
97%
High-School Grad
37.9 sq mi
ZIP Area
865
Density / Sq Mi
$137,651
Median Household Income
$63,686
Median Earnings
$1,455
Median Rent
$376,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - A flexible three-level layout includes private offices, shared work areas, and an independently accessible second floor.
Where is this office building located?
The property is located at 9999 W Lincoln Hwy 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: 7,500‑square‑foot office building completed in 2007; Two above‑grade floors plus a mostly finished basement; Upper floor has a separate entrance and can be rented independently
