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    Property profile & analytics

    1909 Spg Rd Oak Brook, IL 60523-3923

    • Hotels
    • 257,857 SF
    • 14.29 lot acres
    OFF-MARKET
    Value Estimations
    $16,000,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2779448
    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

    • Dance Camp Chicago / Training Center
    • Atrium Cafe / Cafe & Coffee Shop
    • Information Builders Inc / (Bike/Boat/Book/etc) Store / Corporate Office
    • DoubleTree by Hilton Hotel Chicago - Oak Brook / Hotel & Motel
    • F C T I / Atm

    Property Details for 1909 Spg Rd

    Year built
    1972
    Lot size
    14.29 lot acres
    Property size
    257,857 SF
    Zone code
    C
    Property type
    Hotels
    Property subtype
    Motels
    APN
    06-23-400-002
    APU
    623400002

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $26,425,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Oak Brook
    County
    Dupage
    State
    Illinois
    Longitude
    -87.9469
    Latitude
    41.8528
    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
    $254,319
    $4,657,440
    $1,119,130
    $5,776,570
    -
    $13,972,320
    $3,357,390
    $17,329,710

    Comparable in this City

    • Value Estimation
      $12,840,000
      212,166 SF

      1401 22nd St

      HOTEL/MOTEL • 212,166 SF
      1401 22nd St, Oak Brook, IL 60523-2009
      View Details
    • Value Estimation
      $7,680,000
      140,532 SF

      2301 York Rd

      HOTEL/MOTEL • 140,532 SF
      2301 York Rd, Oak Brook, IL 60523-2332
      View Details
    • Value Estimation
      $6,265,000
      90,509 SF

      210 22nd St

      HOTEL/MOTEL • 90,509 SF
      210 22nd St, Oak Brook, IL 60523-1544
      View Details
    • Value Estimation
      $15,720,000
      265,215 SF

      3500 Midwest Rd

      HOTEL/MOTEL • 265,215 SF
      3500 Midwest Rd, Oak Brook, IL 60523-2573
      View Details
    • Value Estimation
      $4,790,000
      70,812 SF

      1000 Drury Ln

      HOTEL/MOTEL • 70,812 SF
      1000 Drury Ln, Oak Brook, IL 60523
      View Details
    • Value Estimation
      $13,450,000
      252,473 SF

      2815 Jorie Blvd

      HOTEL/MOTEL • 252,473 SF
      2815 Jorie Blvd, Oak Brook, IL 60523-2161
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      441,720 SF

      Oak Brook Regency Towers For Sale

      Prominent office towers with amenities near Oakbrook Center shopping mall.
      1415 W 22Nd St, Oak Brook, IL 60523
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    • $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
    • $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
    • 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
    • $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

    Similar Nearby for Lease

    • $23 SF/Yr
      220,860 SF

      Oak Brook Office Space Available

      Class A Office Suites, Oak Brook, IL
      1415 22Nd St, Oak Brook, IL 60523
      View Details
    • Contact for pricing
      6,544 SF

      Oak Brook Office Space Available

      Recently renovated office space with flexible lease terms.
      2311 W 22Nd St, Oak Brook, IL 60523
      View Details
    • $17 SF/Yr
      36,720 SF

      Modernist Office Building in Oak Brook

      Unique office building with prominent signage and flexible floorplan.
      2200 Kensington Ct, 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
      16,540 SF

      Midwest Road Medical Office Space

      Oak Brook medical office building for lease
      1919 Midwest Rd, Oak Brook, IL 60523
      View Details
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    1909 Spg Rd
    Oak Brook, IL 60523-3923
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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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