1300 Iroquois AveNaperville, IL 60563

Property Details for 1300 Iroquois Ave

Lot size

3.00 AC

Zone code

C

Property type

Other commercial real estate

APN

08-08-112-003

APU

808112003

Description

This exceptional Naperville office complex, situated at 1300 Iroquois Ave, offers a compelling investment opportunity. Boasting 37,616 square feet across two, two-story buildings on a 2.9-acre lot, the property features 24 units and 136 parking spaces. Currently 88% occupied by 21 diverse tenants, including medical and financial practices, the property enjoys a strong renewal history and healthy market rental rates averaging approximately $19 per square foot. Nearly all leases include annual rental increases. The stabilized investment boasts a 9.02% cap rate and a substantial NOI of $451,599. Built in 1985 and renovated in 2015, this property benefits from its prime location in Naperville Executive Court, just 1.3 miles from Interstate 88 (165,600 VPD) and south of Ogden Avenue (29,650 VPD). The area is experiencing significant growth, with recent additions like Costco and Amazon Fresh, and future developments including Chick-fil-A, Savers, and Seven Brew. The property's proximity to major employers like KeHE, BMO, and Nokia, along with numerous hotels and amenities, further enhances its appeal. With a remaining lease term of approximately four years (expiring November 30, 2028), this is a rare opportunity to acquire a well-positioned, high-performing office property in a thriving suburban market. The affluent surrounding area, with 132,319 workers and 74,300 residents within a three-mile radius, and an average household income of $155,208, ensures long-term stability and growth potential. The asking price is $5,005,000. APN: 08-08-112-003.

• Alternative Use

  Use

  Valuation

  Residential

  $27,008,144

  Hospitality

  $24,739,316

  Educational

  $20,582,820

  Medical

  $21,290,694

  Retail

  $32,017,720

Location Insight

City

Naperville

County

Dupage

State

Illinois

Latitude

41.7937

Longitude

-88.1228

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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