Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1385 Warren Ave, Unit C Downers Grove, IL 60515
    Back to Search
    Property profile & analytics

    1385 Warren Ave, Unit C Downers Grove, IL 60515

    View on Map
    • Office Spaces
    • 5,094 SF
    • 0.46 lot acres
    For Lease
    $2,880/Mo
    View Listing →
    Downers Grove Office Space Available For Lease
    $2,880/Mo

    Downers Grove Office Space Available

    Attractive office space near downtown Downers Grove and Metra stations.

    1385 WARREN Avenue C, Downers Grove, IL 60515
    View Listing
    Property ID
    US28-2069669
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bentley Financial Group / Bank / Credit Union
    • Dougherty Group / Real Estate Agency
    • Gritis & Associates Ltd / Accounting Firm / Tax Preparation
    • the law office of kevin lyons – downers grove, illinois / Consultant
    • Walsh Thomas M / Law Firm

    Property Details for 1385 Warren Ave

    Year built
    2003
    Lot size
    0.46 lot acres
    Property size
    5,094 SF
    Zone code
    C
    Property type
    Office Spaces
    APN
    09-07-218-022
    APU
    907218022

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,435,000
      6.5%
      $1,320,000
      7%
      $1,230,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $806,000
      Market price range: $323k - $1.12M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,255,000
      Current use
      RESTAURANT
      $1,585,000
      Change: +26% Conversion: Difficult
      MEDICAL BUILDING
      $1,145,000
      Change: -9% Conversion: Easy
      RETAIL STORES
      $1,100,000
      Change: -13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Downers Grove
    County
    Dupage
    State
    Illinois
    Longitude
    -88.0209
    Latitude
    41.7959
    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
    $16,140
    $38,820
    $232,700
    $271,520
    -
    $116,460
    $698,100
    $814,560

    Comparable in this City

    • Value Estimation by Request
      0.07 Acres

      950 Ogden Ave

      OFFICE (GENERAL) • 0.07 Acres
      950 Ogden Ave, Downers Grove, IL 60515-2810
      View Details
    • Value Estimation
      $1,325,000
      13,152 SF

      515 Ogden Ave

      OFFICE (GENERAL) • 13,152 SF
      515 Ogden Ave, Downers Grove, IL 60515-3071
      View Details
    • Value Estimation
      $5,345,000
      38,956 SF

      5133 Washington St

      OFFICE (GENERAL) • 38,956 SF
      5133 Washington St, Downers Grove, IL 60515-4788
      View Details
    • Value Estimation by Request
      0.19 Acres

      4337 Linscott Ave

      OFFICE (GENERAL) • 0.19 Acres
      4337 Linscott Ave, Downers Grove, IL 60515-2745
      View Details
    • Value Estimation
      $1,535,000
      5,783 SF

      5222 Main St

      OFFICE (GENERAL) • 5,783 SF
      5222 Main St, Downers Grove, IL 60515-4613
      View Details
    • Value Estimation by Request
      2,925 SF

      950 Ogden Ave

      OFFICE (GENERAL) • 2,925 SF
      950 Ogden Ave, Downers Grove, IL 60515-2810
      View Details

    Similar Nearby for Sale

    • $614,900
      0.21 Acres

      Downers Grove Commercial Building

      Well-maintained commercial building suitable for various businesses.
      425 Ogden Ave, Downers Grove, IL 60515
      View Details
    • $1,200,000
      11,886 SF

      Downers Grove Office Building For Sale

      Professionally maintained office building with excellent potential in Downers Grove.
      2051 Ogden Ave, Downers Grove, IL 60515
      View Details
    • Contact for pricing

      Downers Grove Office Building For Sale

      47,384 SF office building with available space.
      Downers Dr, Downers Grove, IL 60515
      View Details
    • $999,000

      Fully Equipped Dental Suite

      Professional office setting with 4 operatories and ample parking.
      3000 Woodcreek Dr, Downers Grove, IL 60515
      View Details
    • $279,900
      0.55 Acres

      Downers Grove Office Condo

      Exceptional office condo in a prime Downers Grove location.
      1557 Warren Ave, Downers Grove, IL 60515
      View Details
    • Contact for pricing
      2,000 SF

      Fully Equipped Dental Suite

      Prime dental suite with 4 operatories in Downers Grove.
      3000 Woodcreek Dr, Downers Grove, IL 60515
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Downers Grove Office Space Available

      Office space for rent near shopping and major highways.
      3041 Woodcreek Dr, Downers Grove, IL 60515
      View Details
    • Contact for pricing
      5,736 SF

      Downers Grove Office Space Available

      Office space with reception area and large workstation space.
      2001 Butterfield Rd, Downers Grove, IL 60515
      View Details
    • Contact for pricing
      5,108 SF

      Downers Grove Industrial Space Available

      Industrial space for lease with ample parking and I-355 access.
      5201-5241 Thatcher Rd, Downers Grove, IL 60515
      View Details
    • Contact for pricing

      Downtown Downers Grove Retail Space

      Second-level retail, office, or creative space in Downers Grove.
      5133 Main St, Downers Grove, IL 60515
      View Details
    View Listing
    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.
    1385 Warren Ave, Unit C
    Downers Grove, IL 60515
    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

    Thank You for Inquiry
    1385 Warren Ave, Downers Grove, IL, 60515
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!