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    1604 N Main St Wheaton, IL 60187

    • Medical offices
    • 3,120 SF
    • 0.35 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-5486872
    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

    • Barbra S. Hanna D.O. / Physician
    • Emilie McLain, APRN, WHNP-BC / Physician
    • MyMenopauseRx / Medical Clinic

    Property Details for 1604 N Main St

    Year built
    1972
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.35 lot acres
    Property size
    3,120 SF
    Zone code
    C
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    05-09-107-003
    APU
    509107003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $345,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $690,000
      6.5%
      $635,000
      7%
      $590,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $370,000
      Market price range: $197k - $402k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $705,000
      Current use
      RETAIL STORES
      $670,000
      Change: -4% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $655,000
      Change: -7% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Wheaton
    County
    Dupage
    State
    Illinois
    Longitude
    -88.1073
    Latitude
    41.8816
    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
    $18,242
    $54,980
    $214,950
    $269,930
    -
    $164,940
    $644,850
    $809,790

    Comparable in this City

    • Value Estimation
      $28,400,000
      40,194 SF

      114 Willow Ave

      MEDICAL BUILDING • 40,194 SF
      114 Willow Ave, Wheaton, IL 60187
      View Details
    • Value Estimation by Request
      0.33 Acres

      219 Cole Ave

      MEDICAL BUILDING • 0.33 Acres
      219 Cole Ave, Wheaton, IL 60187-3107
      View Details
    • Value Estimation
      $525,000
      2,400 SF

      1600 Main St

      MEDICAL BUILDING • 2,400 SF
      1600 Main St, Wheaton, IL 60187-3281
      View Details
    • Value Estimation by Request
      1,296 SF

      315 Naperville Rd

      MEDICAL BUILDING • 1,296 SF
      315 Naperville Rd, Wheaton, IL 60187-5423
      View Details
    • Value Estimation
      $630,000
      3,120 SF

      401 Roosevelt Rd

      MEDICAL BUILDING • 3,120 SF
      401 Roosevelt Rd, Wheaton, IL 60187-5564
      View Details
    • Value Estimation by Request
      4,700 SF

      111 Wesley St

      MEDICAL BUILDING • 4,700 SF
      111 Wesley St, Wheaton, IL 60187-5136
      View Details

    Similar Nearby for Sale

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      Well-Kept Commercial Office Space

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    • $599,900
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      Wheaton Office Building - Downtown

      Stunning Rehabbed Office, Prime Location
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    • New
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      Versatile Commercial Building in Wheaton

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    • New
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      Professional Office Suite For Sale

      Well-appointed office suite near DuPage County complex and hospital.
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      Wheaton Office Building - Prime Location

      Fully Leased, 17,570 SF Office Building
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    • Contact for pricing
      2,770 SF

      Wheaton Office Condo For Sale

      Office condo near DuPage County Courthouse with private offices.
      400 Knoll St, Wheaton, IL 60187
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    Similar Nearby for Lease

    • $18 SF/Yr
      25,269 SF

      Wheaton Medical Office Space For Lease

      Class A Suites, Excellent Location, DuPage County
      2001 Gary Ave, Wheaton, IL 60187
      View Details
    • $18 SF/Yr
      15,930 SF

      Wheaton Office Center: 5 Buildings Available

      Prime Wheaton Office Space: 1,160 - 2,504 sq ft.
      290 County Farm Rd, Wheaton, IL 60187
      View Details
    • Contact for pricing
      8,800 SF

      Professional Office Building Near Wheaton

      Two-story brick building suitable for medical or professional offices.
      122 S County Farm Rd, Wheaton, IL 60187
      View Details
    • Contact for pricing
      1,615 SF

      Well-Maintained Office Park Space

      Office space suitable for law, government, medical, or general use.
      301 S County Farm Rd, Wheaton, IL 60187
      View Details
    • Contact for pricing
      1,517 SF

      Well-Maintained Office Park Space

      Office space available in a well-maintained office park.
      290-300 S County Farm Rd, Wheaton, IL 60187
      View Details
    • Contact for pricing
      700 SF

      Office Building on Roosevelt Road

      Three-story office building with excellent exposure and free parking.
      316 W Roosevelt Rd, Wheaton, IL 60187
      View Details
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    1604 N Main St
    Wheaton, IL 60187
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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.

    More about this property
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