Back to Search
Property profile & analytics
FOR LEASE
Commercial real estate
2 Pierce Pl Itasca, IL 60143
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US28-2360698
For Lease
1 / 2
$17,500,000
2 Pierce Pl, Itasca, IL 60143
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
487,027 SF
Lot
8.36 ac (364,162 SF)
Zoning code
C
APN
03-05-101-010
UPID
US28-2360698
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Kiewit Construction Company
-
2 Pierce, LLC Business Service Center Corporate Office
-
Cunningham Trading Systems (Bike/Boat/Book/etc) Store Corporate Office
-
NNR Global Logistics Corporate Office
-
Konica Minolta Business Solutions Graphic Designer Business To Business Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.58M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$17.50M
Owner & transaction history
2 Pierce LLC · 4 yrs held
2 Pierce LLC
since 2022
Last sale
$16.0M
3 recorded transactions
Zoning & alternative use
C · Itasca, IL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Itasca submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Itasca submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$19,870,000
ML approach
$10,580,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$17.50M
Range $15.75M – $19.25M · ±10% · vs last sale $16.00M (Feb 2 2022)
Last sale anchor
$16.00M
Feb 2 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$36 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$534,556
Tax year 2023
Assessed value
$7,008,370
Assessed 2023
Previous assessed
$6,696,610
+4.7% YoY
Effective rate
7.63%
On assessed value
Assessed land
$2,707,780
Assessed improvement
$4,300,590
Land market value
$8,123,340
Improvement market value
$12,901,770
Total market value
$21,025,110
Applied tax rate
3,227.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Lease
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Total area
487,027 SF
Lot
8.36 ac (364,162 SF)
Zoning code
C
APN
03-05-101-010
UPID
US28-2360698
Jurisdiction
DU PAGE
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
C · Itasca, IL
Zoning C · permitted uses
C · Itasca, IL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Itasca. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Lot
8.36 ac
Current owner
From public records · entity-resolved
2 Pierce LLC
Entity
Mailing address
747 3RD AVE37F, NEW YORK, NY 10017-2803
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2022
$16,000,000
2 Pierce LLC
Piedmont Two Pierce Place LLC
Special Warranty Deed
$22,500,000 · Aetna Life Insurance Co
Dec 12, 2006
$88,550,000
Wells Reit-two Pierce Pl LLC
Hgc Of Two Pierce
Grant Deed
—
Feb 4, 1998
—
Hgc Two Pierce LLP
Itasca Center III LLP
Grant Deed
$65,149,499 · Yasuda Trust & Bank New York
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
