Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    515 Thornhill Dr Carol Stream, IL 60188

    • Medical offices
    • 2,026 SF
    • 3.46 lot acres
    For Lease
    View listing
    Value Estimations
    $390,000
    Cap Rate Potential
    9.1%
    Medical offices
    Location Intelligence
    Property ID
    US28-1736230
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • OAD Orthopaedics / Medical Clinic / Physical Therapist
    • Orthopedic Associates-Dupage / Orthopedic Surgeon
    • OAD Orthopaedics: Steven E. Mayer, MD / Physiatrist / Doctor
    • Beth B. Froese, MD / Doctor / Sports Medicine Clinic
    • Daniel Odonell,PA / Orthopedic Surgeon

    Property Details for 515 Thornhill Dr

    Year built
    1982
    Lot size
    3.46 lot acres
    Property size
    2,026 SF
    Zone code
    C
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    05-04-312-010
    APU
    504312010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $295,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $445,000
      6.5%
      $415,000
      7%
      $385,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $440,000
      Market price range: $249k - $713k
      AI Estimate
      $190,000
      Market price range: $112k - $285k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $455,000
      Current use
      RETAIL STORES
      $435,000
      Change: -4% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $415,000
      Change: -9% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Carol Stream
    County
    Dupage
    State
    Illinois
    Longitude
    -88.1033
    Latitude
    41.8917
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $4,869
    $17,260
    $49,790
    $67,050
    -
    $51,780
    $149,370
    $201,150

    Comparable in this City

    • Value Estimation by Request
      39,600 SF

      371 Schmale Rd

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

      397 Schmale Rd, Unit 1

      MEDICAL BUILDING • 2,365 SF
      397 Schmale Rd, Carol Stream, IL 60188-2756
      View Details
    • 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
      View Details
    • Value Estimation
      $275,000
      2,500 SF

      383 Schmale Rd

      MEDICAL BUILDING • 2,500 SF
      383 Schmale Rd, Carol Stream, IL 60188-2756
      View Details
    • Value Estimation
      $390,000
      2,035 SF

      515 Thornhill Dr Ste B

      MEDICAL BUILDING • 2,035 SF
      515 Thornhill Dr Ste B, Carol Stream, IL 60188-2772
      View Details
    • Value Estimation by Request
      2,500 SF

      393 Schmale Rd

      MEDICAL BUILDING • 2,500 SF
      393 Schmale Rd, Carol Stream, IL 60188-2765
      View Details

    Similar Nearby for Sale

    • $2,026,400
      2,980 SF

      Medical Clinic in Carol Stream

      Healthcare property with long-term tenant in high-income, dense area.
      865 E Geneva Rd, Carol Stream, IL 60188
      View Details
    • $435,000

      55+ Townhome with Elevator

      End-unit townhome in 55+ community with elevator and scenic views.
      640 Belmont Ln, Carol Stream, IL 60188
      View Details
    • $175,000
      3.46 Acres

      Carol Stream Commercial Office Space

      Medical or professional office space for sale in Carol Stream.
      511 Thornhill Dr, Carol Stream, IL 60188
      View Details
    • $89,900
      3.46 Acres

      Carol Stream Commercial Office Space

      Medical or professional office space for sale in Carol Stream.
      511 Thornhill Dr, Carol Stream, IL 60188
      View Details
    • New
      $435,000
      0.43 Acres

      Carol Stream Commercial Opportunity

      3,515 sq ft building on 0.43-acre lot, zoned B-3.
      565 E Saint Charles Rd, Carol Stream, IL 60188
      View Details
    • $1,100,000
      4.47 Acres

      Commercial Land in Carol Stream

      4.47 acre commercial lot ideal for warehouse or office development.
      27W130 Saint Charles Rd, Carol Stream, IL 60188
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      19,578 SF

      Carol Stream Medical Office Space

      Prime Medical Office Suites Available in Carol Stream, IL
      640 St. Charles Rd, Carol Stream, IL 60188
      View Details
    • $15 SF/Yr
      24,128 SF

      North Avenue Office Building

      Prime DuPage County Office Space
      690 North Ave, Carol Stream, IL 60188
      View Details
    • $13 SF/Yr
      150 SF

      Renovated Office Space For Rent

      Highly accessible, newly renovated office and medical space available for rent.
      640 E Saint Charles Rd, Carol Stream, IL 60188
      View Details
    • $12 SF/Yr
      1,174 SF

      Medical Office Space Available

      Medical office space for rent with high traffic exposure.
      501-525 Thornhill Dr, Carol Stream, IL 60188
      View Details
    • Contact for pricing

      Medical/Office Space in Carol Stream

      Versatile medical/office space with high traffic exposure.
      515 Thornhill Dr, Carol Stream, IL 60188
      View Details
    • Contact for pricing

      Versatile Commercial Space in Carol Stream

      Adaptable commercial space suitable for medical or professional services.
      501 Thornhill Dr, Carol Stream, IL 60188
      View Details
    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.
    515 Thornhill Dr
    Carol Stream, IL 60188
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.