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

    2340 Highland Ave Ste, Unit 320 Lombard, IL 60148-7133

    • Medical offices
    • 1,635 SF
    • 2.04 lot acres
    OFF-MARKET
    Value Estimations
    $290,000
    Show details
    Cap Rate Potential
    7.6%
    Medical offices
    Location Intelligence
    Property ID
    US28-1701814
    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

    • Medical offices

    Property Details for 2340 Highland Ave Ste

    Year built
    1982
    Lot size
    2.04 lot acres
    Property size
    1,635 SF
    Zone code
    C
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    06-29-108-022
    APU
    629108022

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $360,000
      6.5%
      $335,000
      7%
      $310,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $368,000
      Market price range: $201k - $575k
      AI Estimate
      $238,000
      Market price range: $160k - $284k

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

    Location Insight

    • Map
    • Local Demand
    City
    Lombard
    County
    Dupage
    State
    Illinois
    Longitude
    -88.0124
    Latitude
    41.8431
    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
    $4,801
    $7,990
    $51,710
    $59,700
    -
    $23,970
    $155,130
    $179,100

    Comparable in this City

    • Value Estimation
      $165,000
      1,635 SF

      2340 Highland Ave Ste, Unit 230

      MEDICAL BUILDING • 1,635 SF
      2340 Highland Ave Ste, Lombard, IL 60148-5396
      View Details
    • Value Estimation
      $270,000
      1,635 SF

      2340 Highland Ave

      MEDICAL BUILDING • 1,635 SF
      2340 Highland Ave, Lombard, IL 60148-5371
      View Details
    • Value Estimation
      $235,000
      1,405 SF

      2340 Highland Ave Ste, Unit 290

      MEDICAL BUILDING • 1,405 SF
      2340 Highland Ave Ste, Lombard, IL 60148-7163
      View Details
    • Value Estimation
      $285,000
      1,635 SF

      2340 Highland Ave Ste, Unit 360

      MEDICAL BUILDING • 1,635 SF
      2340 Highland Ave Ste, Lombard, IL 60148-5397
      View Details
    • Value Estimation
      $12,095,000
      61,896 SF

      2100 Finley Rd

      MEDICAL BUILDING • 61,896 SF
      2100 Finley Rd, Lombard, IL 60148-4830
      View Details
    • Value Estimation
      $285,000
      1,635 SF

      2340 Highland Ave Ste 310a

      MEDICAL BUILDING • 1,635 SF
      2340 Highland Ave Ste 310a, Lombard, IL 60148-7133
      View Details

    Similar Nearby for Sale

    • $1,050,000
      4,685 SF

      Lombard Office Building For Sale

      Prime Lombard office, 4,685 sq ft.
      6 St Charles Rd, Lombard, IL 60148
      View Details
    • Contact for pricing
      125,719 SF

      Office Space at Butterfield Centre

      Office space for sale with upcoming renovations and many amenities.
      720 E Butterfield Rd, Lombard, IL 60148
      View Details
    • Contact for pricing
      211,528 SF

      Lombard Office Space For Sale

      Office space for sale near Yorktown Mall and I-88.
      700 E Butterfield Rd, Lombard, IL 60148
      View Details
    • $341,000
      2,200 SF

      Updated Office Building For Sale

      Move-in ready office building with modern updates and ample parking.
      101 W 22Nd St, Lombard, IL 60148
      View Details
    • $2,400,000
      2.14 Acres

      Lombard Land: Prime Redevelopment Site

      2.14 Acres, Exceptional Location, High Potential
      550 22Nd St, Lombard, IL 60148
      View Details
    • Contact for pricing
      139 SF

      Retail Building in Lombard, Illinois

      Retail building in Lombard's dense retail pocket available for sale.
      2860 S Highland Ave, Lombard, IL 60148
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      2,488 SF

      Lombard Office Space for Rent

      Office space featuring private offices, conference room, and open area.
      333 E Butterfield Rd, Lombard, IL 60148
      View Details
    • $28 SF/Yr
      2,664 SF

      Furnished Office Space Available Now

      Move-in ready office space with high-end finishes and amenities.
      377 E Butterfield Rd, Lombard, IL 60148
      View Details
    • $9 SF/Yr
      12,000 SF

      Lombard Warehouse Space For Lease

      Versatile warehouse space in prime location.
      727 Yale Ave, Lombard, IL 60148
      View Details
    • $21 SF/Yr
      18,899 SF

      Office Building with Redundant Power

      Two-building office complex with redundant power and security features.
      360 E 22Nd St, Lombard, IL 60148
      View Details
    • $24 SF/Yr
      2,000 SF

      Lombard Office Space For Rent

      Office space with a mix of offices and open space.
      555 E Butterfield Rd, Lombard, IL 60148
      View Details
    • $13 SF/Yr
      5,229 SF

      Lombard Office Space for Rent

      Flexible office space with mature landscaping and convenient parking.
      821-829 Parkview Blvd, Lombard, IL 60148
      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.
    2340 Highland Ave Ste, Unit 320
    Lombard, IL 60148-7133
    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.