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Property profile & analytics
FOR LEASE
Office buildings
1020 31St St, Downers Grove, IL 60515
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US28-2880114
For Lease
1 / 4
$14 SF/Yr
1020 31St St, Downers Grove, IL 60515
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1982
Total area
228,966 SF
Lot
5.8 ac (252,648 SF)
Zoning code
C
APN
06-29-304-011
UPID
US28-2880114
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Elliotts' Off Broadway Deli Take-out & Catering
-
AECOM Engineering Consultant
-
Loyola University Chicago ABSN Program Vocational School Training Center
-
HCSC Downers Grove Insurance Agency
-
Highland Oaks II Production Facility Industrial Park
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$51.81M
Comparable Approach
Comparable
$26.76M
Blend (final)
Blend
$42.23M
Owner & transaction history
Neder Capital Services LLC
Neder Capital Services LLC
since 2026
Last sale
$46.0M
7 recorded transactions
Zoning & alternative use
C · Downers Grove, IL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$56.5M
+37.7%
Medical building
$51.6M
+25.7%
Retail stores
$49.3M
+20.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Downers Grove submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Downers Grove submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$40,520,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$56,125,000
6.5%
$51,810,000
7%
$48,110,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$41,040,000
Current use
COMMERCIAL (GENERAL)
$56,515,000
Change: +38% · Conversion: Easy
MEDICAL BUILDING
$51,575,000
Change: +26% · Conversion: Easy
RETAIL STORES
$49,340,000
Change: +20% · Conversion: Moderate
Blend value · Realmo final
$42.23M
Range $38.00M – $46.45M · ±10% · vs last sale $46.03M (Feb 4 2025)
Last sale anchor
$46.03M
Feb 4 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$184 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$316,027
Tax year 2023
Assessed value
$5,309,150
Assessed 2023
Previous assessed
$7,430,080
-28.5% YoY
Effective rate
5.95%
On assessed value
Assessed land
$1,134,240
Assessed improvement
$4,174,910
Land market value
$3,402,720
Improvement market value
$12,524,730
Total market value
$15,927,450
Applied tax rate
6,123.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1982
Heating
NONE
Total area
228,966 SF
Lot
5.8 ac (252,648 SF)
Zoning code
C
APN
06-29-304-011
UPID
US28-2880114
Jurisdiction
DU PAGE
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
C · Downers Grove, IL
Zoning C · permitted uses
C · Downers Grove, IL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Downers Grove. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$41.0M
COMMERCIAL (GENERAL)
Est. value
$56.5M
MEDICAL BUILDING
Est. value
$51.6M
RETAIL STORES
Est. value
$49.3M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1982
Heating
NONE
Lot
5.8 ac
Current owner
From public records · entity-resolved
Neder Capital Services LLC
Entity
Mailing address
1140 E HALLANDALE BCH BLVD, HALLANDALE BEACH, FL 33009-4432
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 28, 2026
$1,850,000
Neder Capital Services LLC
Highlands Oak Holding LLC
Special Warranty Deed
—
Sep 4, 2025
$2,729,500
Highlands Oak Holding LLC
Comm 2014 Ubs6 West 31st Street LLC
Special Warranty Deed
—
Feb 4, 2025
—
Comm 2014 Ubs6 West 31st Street LLC
Br1 1865 Highland Oaks I LLC
Deed
related
—
Oct 15, 2014
$46,025,000
Bri 1865 Highland Oaks I LLC
Realty Associates Fund Vii LP
Grant Deed
$34,590,000 · Keybank USA
Oct 15, 2014
—
Bri 1865 Highland Oaks I LLC
Realty Associates Fund Vii LP
Quit Claim Deed
related
—
May 31, 2007
—
Realty Associates Fund Vii
—
Deed Of Trust
related
$541,993,251 · Prudential Insurance Co
May 11, 2006
$43,275,000
Realty Associates Fund Vii
Serbo Highland Oaks LLC
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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