Your AI Navigator in Commercial Real Estate
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
    Back to Search
    Property profile & analytics

    1150 22nd St Oak Brook, IL 60523-2182

    • Retail space
    • 6,152 SF
    • 0.31 lot acres
    OFF-MARKET
    Last Sale
    Feb 18, 2025
    $6,115,000
    Value Estimations
    $5,385,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-5325942
    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

    • Diamonds Direct Oak Brook / Jewelry Store / Diamond Dealer

    Property Details for 1150 22nd St

    Year built
    2023
    Lot size
    0.31 lot acres
    Property size
    6,152 SF
    Property type
    Retail space
    APN
    06-23-406-024
    APU
    623406024

    Description

    This exceptional investment opportunity presents a brand-new, 6,000-square-foot storefront occupied by Diamonds Direct under a 15.1-year net lease (NNN ground lease) with 13.8 years remaining. Located at 1150 W 22nd St, Oak Brook, IL 60523, this single-tenant building boasts a prime corner location on a high-traffic intersection with over 138,000 vehicles passing daily. The property is situated within the prestigious Oak Brook Commons development, across from Oakbrook Center, a major shopping destination attracting over 25 million visitors annually and generating over $1 billion in spending. The surrounding area features upscale neighbors including Fogo de Chão, Alter Brewing, and Gibsons Bar & Steakhouse, further enhancing the property's desirability. Built in 2023, the property sits on a 0.31-acre lot and includes 15 parking spaces. The lease commenced August 12, 2023, and expires August 31, 2038, with three 5-year renewal options. Rent increases are structured with a 10% bump every five years, providing inflation protection. The property offers a 6.00% cap rate, a $385,000 net operating income (NOI), and is priced at $6,417,000 ($1,069.50 per square foot). The tenant, Diamonds Direct, is credit-rated, ensuring a secure investment. This high-visibility location, coupled with strong demographics (average household income of $156,431 and over 141,100 daytime population within a three-mile radius), makes this a truly exceptional passive investment opportunity. The property's County Use Code is C. The APN is 06-23-406-024.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,385,000
      ML approach
      $5,930,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Oak Brook
    County
    Dupage
    State
    Illinois
    Longitude
    -87.9459
    Latitude
    41.8475
    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
    $7,844
    $101,020
    $77,140
    $178,160
    -
    $303,060
    $231,420
    $534,480

    Comparable in this City

    • Value Estimation
      $1,000,000
      101,891 SF

      83 At W 22nd St

      RETAIL STORES (PERSONAL SERVICES) • 101,891 SF
      83 At W 22nd St, Oak Brook, IL 60523
      View Details
    • Value Estimation
      $985,000
      268,057 SF

      2310 Oakbrook Ctr

      RETAIL STORES (PERSONAL SERVICES) • 268,057 SF
      2310 Oakbrook Ctr, Oak Brook, IL 60523-9017
      View Details
    • Value Estimation
      $1,030,000
      192,397 SF

      3001 Butterfield Rd, Unit 5

      RETAIL STORES (PERSONAL SERVICES) • 192,397 SF
      3001 Butterfield Rd, Oak Brook, IL 60523-1107
      View Details
    • Value Estimation
      $950,000
      180,407 SF

      1901 22nd St

      RETAIL STORES (PERSONAL SERVICES) • 180,407 SF
      1901 22nd St, Oak Brook, IL 60523-1759
      View Details
    • Value Estimation
      $355,000
      22,632 SF

      2040 York Rd

      RETAIL STORES (PERSONAL SERVICES) • 22,632 SF
      2040 York Rd, Oak Brook, IL 60523-1966
      View Details
    • Value Estimation
      $970,000
      91,314 SF

      2525 22nd St

      RETAIL STORES (PERSONAL SERVICES) • 91,314 SF
      2525 22nd St, Oak Brook, IL 60523-1293
      View Details

    Similar Nearby for Sale

    • $2,200,000
      2.00 Acres

      Oak Brook Land: Prime Retail Site

      ±2 Acres, Retail Development Opportunity
      3001 Butterfield Rd, Oak Brook, IL 60523
      View Details
    • $1,255,000
      1.50 Acres

      Oak Brook Land Opportunity

      Large lot in prime Oak Brook location for custom home.
      3420 York Rd, Oak Brook, IL 60523
      View Details
    • $605,000
      0.68 Acres

      Prime Oak Brook Estate Lot

      Exceptional opportunity to build your dream home in Oak Brook.
      6 Pine Hill Ln, Oak Brook, IL 60523
      View Details
    • Contact for pricing
      58,010 SF

      Renovated Office Building Near I-88

      Three-story office building with open floor plans and ample parking.
      2100 Swift Dr, Oak Brook, IL 60523
      View Details
    • $489,993
      0.59 Acres

      Residential Land in Oak Brook

      Half-acre lot ready for your dream home with walkout basement.
      7 Yorkshire Wood Lot 8 Dr, Oak Brook, IL 60523
      View Details
    • $509,993
      0.59 Acres

      Residential Land in Oak Brook

      Half-acre lot ready for your dream home with walkout basement.
      7 Yorkshire Wood Lot 7 Dr, Oak Brook, IL 60523
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1 SF

      Oak Brook Retail Space Available

      Prime Retail Space, High Visibility, Fully Built-Out
      3051 Butterfield Rd, Oak Brook, IL 60523
      View Details
    • Contact for pricing
      4,075 SF

      Restaurant Space Near Oak Brook

      Fully built-out restaurant space available near Oak Brook Commons.
      2103 Clearwater Dr, Oak Brook, IL 60523
      View Details
    • Contact for pricing
      6,300 SF

      Restaurant Pads in Oak Brook

      Restaurant pads available at a fully signalized intersection.
      1050 W 22Nd St, Oak Brook, IL 60523
      View Details
    • Contact for pricing
      21,000 SF

      Oak Brook Commons: Medical & Retail

      Prime Oak Brook space, multiple suites available.
      2150 Mcdonald Dr, Oak Brook, IL 60523
      View Details
    • Contact for pricing
      7,900 SF

      Oak Brook Retail & Dining

      Specialty retail and dining center in Oak Brook, Illinois.
      3021 Butterfield Rd, Oak Brook, IL 60523
      View Details
    • Contact for pricing
      17,749 SF

      Prime Oak Brook Office Space

      Conveniently located office space with easy access and ample parking.
      1111 W 22Nd St, Oak Brook, IL 60523
      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.
    1150 22nd St
    Oak Brook, IL 60523-2182
    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.