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Property profile & analytics
FOR LEASE
Office buildings
1111 W 22Nd St, Oak Brook, IL 60523
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US28-0229821
For Lease
1 / 2
$32,065,000
1111 W 22Nd St, Oak Brook, IL 60523
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1984
Total area
225,318 SF
Lot
6.65 ac (289,674 SF)
Zoning code
C
APN
06-26-200-008
UPID
US28-0229821
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
-
Ed Scheer Financial Advisor
-
Wavicle Data Solutions LLC Business Management Consultant
-
Oak Brook Wealth Management Financial Advisor
-
Northwestern Mutual Financial Advisor
-
First Health Hospice, LLC Nursing Home
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$32.07M
Owner & transaction history
Department Of Transportation · 2 yrs held
Department Of Transportation
since 2024
Last sale
$24,907
6 recorded transactions
Zoning & alternative use
C · Oak Brook, IL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$52.4M
+10.8%
Medical building
$50.8M
+7.4%
Retail stores
$48.6M
+2.8%
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 Oak Brook submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Oak Brook 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$47,250,000
Current use
COMMERCIAL (GENERAL)
$52,355,000
Change: +11% · Conversion: Easy
MEDICAL BUILDING
$50,755,000
Change: +7% · Conversion: Easy
RETAIL STORES
$48,550,000
Change: +3% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$43,510,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$32.07M
Range $28.86M – $35.27M · ±10% · vs last sale $25k (Feb 20 2024)
Last sale anchor
$25k
Feb 20 2024
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
$142 / 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
$306,589
Tax year 2023
Assessed value
$7,941,700
Assessed 2023
Previous assessed
$8,662,580
-8.3% YoY
Effective rate
3.86%
On assessed value
Assessed land
$2,407,160
Assessed improvement
$5,534,540
Land market value
$7,221,480
Improvement market value
$16,603,620
Total market value
$23,825,100
Applied tax rate
6,143.0000
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
1984
Heating
NONE
Total area
225,318 SF
Lot
6.65 ac (289,674 SF)
Zoning code
C
APN
06-26-200-008
UPID
US28-0229821
Jurisdiction
DU PAGE
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
C · Oak Brook, IL
Zoning C · permitted uses
C · Oak Brook, IL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Oak Brook. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$47.3M
COMMERCIAL (GENERAL)
Est. value
$52.4M
MEDICAL BUILDING
Est. value
$50.8M
RETAIL STORES
Est. value
$48.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$43.5M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1984
Heating
NONE
Lot
6.65 ac
Current owner
From public records · entity-resolved
Department Of Transportation
Entity
Free & Clear · 2 yrs held
Mailing address
201 CTR CT, SCHAUMBURG, IL 60196-3169
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 20, 2024
—
Department Of Transportation
Ltp Structures II LLC
Lease
—
Feb 20, 2024
$24,907
State Of Illinois
Oak Brook Gateway LLC
Warranty Deed
—
Dec 10, 2018
$43,000,000
Oak Brook Gateway LLC
Bre Il Office Owner LLC
Grant Deed
—
May 3, 2018
—
Bre Il Office Owner LLC
—
Grant Deed
related
$1,471,351,106 · Barclays Bk
Jul 24, 2015
$36,072
Bre Il Office Office Owner LLC
Long Ridge Office Portfolio LP
Grant Deed
—
Jul 25, 2007
$46,671,000
Long Ridge Office Portfolio
Il-1111 22nd Street 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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