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    640 St. Charles Rd Carol Stream, IL 60188

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    640 St. Charles Rd Carol Stream, IL 60188

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    • Office properties & Spaces
    • 19,578 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 640 St. Charles Rd

    Year built
    1982
    Property size
    19,578 SF
    Property type
    Office properties & Spaces
    Property subtype
    Medical Office Space

    Description

    The Carol Stream Professional Center, located at 640 E. St. Charles Road in Carol Stream, Illinois (zip code 60188), presents a compelling opportunity for medical and professional office users. This Class B building, constructed in 1982, offers a total of 19,578 square feet of space, with multiple tenancy options. Currently, 7,277 square feet are vacant, divisible into units ranging from a minimum of 763 square feet to a maximum contiguous space of 3,400 square feet. The building is situated in DuPage County and benefits from high visibility and accessibility. The property is professionally managed and offers the potential for build-to-suit options to meet specific tenant requirements. Six individual spaces are currently available. This location provides an excellent opportunity for businesses seeking a well-maintained and conveniently located office space in a thriving community. The property's address is easily accessible and provides ample visibility for businesses seeking to establish a strong presence in the area. The flexible space options cater to a variety of business needs, from small practices to larger organizations. The building's professional management ensures a smooth and efficient operational environment for tenants.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Carol Stream
    County
    DuPage
    State
    Illinois
    Longitude
    -88.0989
    Latitude
    41.8963

    Comparable in this City

    • Value Estimation by Request
      24,128 SF

      690 North Ave

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      3,395 SF

      565 St Charles Rd

      Medical Office Space • 3,395 SF
      565 St Charles Rd, Carol Stream, IL 60188
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    • Value Estimation
      $6,385,000
      39,600 SF

      371 Schmale Rd

      MEDICAL BUILDING • 39,600 SF
      371 Schmale Rd, Carol Stream, IL 60188-2756
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    • Value Estimation by Request
      2,365 SF

      397 Schmale Rd, Unit 1

      MEDICAL BUILDING • 2,365 SF
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    • Value Estimation by Request
      1,025 SF

      507 Thornhill Dr, Unit B1

      MEDICAL BUILDING • 1,025 SF
      507 Thornhill Dr, Carol Stream, IL 60188-2706
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    • Value Estimation by Request
      2,500 SF

      383 Schmale Rd

      MEDICAL BUILDING • 2,500 SF
      383 Schmale Rd, Carol Stream, IL 60188-2756
      View Details

    Similar Nearby for Sale

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      Medical/Office Building in Carol Stream

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      Carol Stream Commercial Opportunity

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    Similar Nearby for Lease

    • $8 SF/Yr
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      Medical Office Space Available

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      763 SF

      Renovated Office Space For Rent

      Highly accessible, newly renovated office and medical space available for rent.
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      Small Warehouse Unit with Dock

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      Carol Stream Flex/Tech Space

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      Sublease Opportunity in Carol Stream

      143,524 SF available through September 2033 in Carol Stream.
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      Professional Office Space Available

      Highly visible and accessible office location in Carol Stream, IL.
      640 E St. Charles Rd, Carol Stream, IL 60188
      View Details
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    640 St. Charles Rd
    Carol Stream, IL 60188
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    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
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    640 St. Charles Rd, Carol Stream, IL, 60188

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