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    1600 16Th St Oak Brook, IL 60523
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    Property profile & analytics

    1600 16Th St Oak Brook, IL 60523

    View on Map
    • Retail space
    • 72,203 SF
    • 5.24 lot acres
    For Lease
    $8,050,000
    View Listing →
    Retail Space Near Oakbrook Center For Lease
    $8,050,000
    1,560 SF

    Retail Space Near Oakbrook Center

    Retail space available in a high-traffic suburban market.

    1600 16th Street, Oak Brook, IL 60523
    View Listing
    Property ID
    US28-3027981
    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

    • Ayara Threading {The Art Of Threading,Lashes,Facial & Waxing Salon } / Hair Salon
    • Nathan Sels, DPT / Physician
    • Alexander Soto, United Real Estate / Real Estate Agency
    • Blackberry Market / Restaurant
    • Michelle Lewan / Physician

    Property Details for 1600 16Th St

    Year built
    1989
    Lot size
    5.24 lot acres
    Property size
    72,203 SF
    Zone code
    C
    Property type
    Retail space
    APN
    06-22-205-028
    APU
    622205028

    Description

    This exceptional retail space, located within the highly desirable Oaks of Oak Brook shopping center at 1600 16th St, Oak Brook, IL 60523, presents a fantastic opportunity for businesses seeking a prominent location in DuPage County. The property is a multi-tenant shopping center offering a single available space ranging from 1,200 to 2,001 contiguous square feet. This versatile space is ideal for a variety of retail uses and is ready for immediate occupancy. The location benefits from high visibility and excellent access, ensuring strong foot traffic and convenient customer accessibility. Situated in the thriving Oak Brook market, this property offers unparalleled exposure to a dense population of affluent consumers. The space's size is perfect for businesses needing a manageable footprint while still allowing for ample room to showcase products or services. With its prime location and flexible space, this retail opportunity is not to be missed. The property is classified as a shopping center and is located in DuPage County, Illinois. Contact us today to schedule a viewing and explore the possibilities of establishing your business in this exceptional location. The available space is currently vacant and ready for immediate lease.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Oak Brook
    County
    Dupage
    State
    Illinois
    Longitude
    -87.959
    Latitude
    41.8546
    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
    $153,642
    $1,574,560
    $1,915,250
    $3,489,810
    -
    $4,723,680
    $5,745,750
    $10,469,430

    Comparable in this City

    • Value Estimation
      $34,835,000
      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
      $12,395,000
      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
      $28,310,000
      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 by Request
      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
      $15,235,000
      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 by Request

      3051 Butterfield Rd

      Individual retail properties
      3051 Butterfield Rd, Oak Brook, IL 60523
      View Details

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      Class B Office Building

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    • $1,500,000
      2.18 Acres

      Oak Brook Land with Frontage

      Rare 2.18-acre lot with extensive frontage in Oak Brook.
      3403 York Rd, Oak Brook, IL 60523
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      27,585 SF

      Premier Office and Retail Space

      Office and retail space with many amenities and convenient location.
      1211 W 22Nd St, Oak Brook, IL 60523
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      Premier Office and Retail Space

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    • $24 SF/Yr
      24,972 SF

      Premier Office and Retail Space

      Office and retail space with many amenities and convenient location.
      1301 22Nd St, Oak Brook, IL 60523
      View Details
    • Contact for pricing

      Retail Space Near Oakbrook Center

      Retail space available in a high-traffic suburban market.
      1600 16Th St, Oak Brook, IL 60523
      View Details
    • Contact for pricing

      Restaurant Space in Oak Brook

      Restaurant space with patio in a premier dining center.
      3051 Butterfield Rd, Oak Brook, IL 60523
      View Details
    • Contact for pricing
      9,736 SF

      Oak Brook Retail & Dining

      Specialty retail and dining center in Oak Brook, Illinois.
      3021 Butterfield Rd, Oak Brook, IL 60523
      View Details
    View Listing
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    Oak Brook, IL 60523
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    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.

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