Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2021 Midwest Rd Oak Brook, IL 60523-1342

    • Office buildings
    • 50,400 SF
    • 2.28 lot acres
    OFF-MARKET
    Value Estimations
    $7,440,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-0830803
    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

    • Drone Artography / Film Production / Television Studio
    • A Better Tomorrow: Behavioral Health Care Center, Inc. / Medical Clinic
    • John A Berger & Associates / Physician / Medical Clinic
    • Trilogy Consulting Group Inc / Business Management Consultant
    • TeamLogic IT / Tech Support Center / IT Consulting Firm

    Property Details for 2021 Midwest Rd

    Year built
    1979
    Lot size
    2.28 lot acres
    Property size
    50,400 SF
    Zone code
    C
    Property type
    Office buildings
    APN
    06-22-303-030
    APU
    622303030

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $10,570,000
      Current use
      COMMERCIAL (GENERAL)
      $11,710,000
      Change: +11% Conversion: Easy
      MEDICAL BUILDING
      $11,355,000
      Change: +7% Conversion: Easy
      RETAIL STORES
      $10,860,000
      Change: +3% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $9,730,000
      Change: -8% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Oak Brook
    County
    Dupage
    State
    Illinois
    Longitude
    -87.9717
    Latitude
    41.8482
    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
    $98,456
    $631,010
    $1,534,950
    $2,165,960
    -
    $1,893,030
    $4,604,850
    $6,497,880

    Comparable in this City

    • Value Estimation
      $14,490,000
      125,628 SF

      2122 York Rd

      OFFICE BUILDING • 125,628 SF
      2122 York Rd, Oak Brook, IL 60523-1930
      View Details
    • Value Estimation
      $21,195,000
      195,355 SF

      1808 Swift Dr

      OFFICE BUILDING • 195,355 SF
      1808 Swift Dr, Oak Brook, IL 60523-1573
      View Details
    • Value Estimation
      $10,525,000
      92,862 SF

      2311 22nd St

      OFFICE BUILDING • 92,862 SF
      2311 22nd St, Oak Brook, IL 60523-1225
      View Details
    • Value Estimation
      $10,195,000
      104,224 SF

      2901 Butterfield Rd

      OFFICE BUILDING • 104,224 SF
      2901 Butterfield Rd, Oak Brook, IL 60523-1106
      View Details
    • Value Estimation
      $12,870,000
      103,700 SF

      22nd St At Robert Kingery S Hwy

      OFFICE BUILDING • 103,700 SF
      22nd St At Robert Kingery S Hwy, Oak Brook, IL 60523
      View Details
    • Value Estimation
      $27,195,000
      218,192 SF

      700 Commerce Dr

      OFFICE BUILDING • 218,192 SF
      700 Commerce Dr, Oak Brook, IL 60523-1546
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      58,010 SF

      Renovated Office Building in Oak Brook

      Three-story office building with open floor plans and ample parking.
      2100 Swift Dr, Oak Brook, IL 60523
      View Details
    • Contact for pricing

      Class B Office Building

      Three-story office building near Oakbrook Center mall with recent upgrades.
      814 Commerce Dr, Oak Brook, IL 60523
      View Details
    • Contact for pricing

      Suburban Office Building Near Highways

      Two-story office building near major highways with flexible office space.
      2210 Midwest Rd, Oak Brook, IL 60523
      View Details
    • Contact for pricing

      Two-Story Office Building with Garage

      63,345 SF office building with heated garage and amenities.
      701 Harger Rd, Oak Brook, IL 60523
      View Details
    • Contact for pricing

      Oak Brook Regency Towers For Sale

      Prominent office towers with amenities near Oakbrook Center shopping mall.
      1415 W 22Nd St, Oak Brook, IL 60523
      View Details
    • Contact for pricing

      Oak Brook Office Building For Sale

      Office building in the heart of the Eastern E/W Corridor.
      2221 Camden Ct, Oak Brook, IL 60523
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Oak Brook Office Center Campus

      Four-building campus with renovated spaces for lease in Oak Brook.
      2803 Butterfield Rd, Oak Brook, IL 60523
      View Details
    • Contact for pricing

      Renovated Office Building in Oak Brook

      Three-story office building with open floor plans and ample parking.
      2100 Swift Dr, Oak Brook, IL 60523
      View Details
    • Contact for pricing

      Class A Office Building Towers

      Multi-story office buildings with retail concourse and many amenities.
      1415 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
    • $22 SF/Yr
      35,000 SF

      Oak Brook Office Technology Campus

      Office space for rent in the heart of Oak Brook.
      810 Jorie Blvd, Oak Brook, IL 60523
      View Details
    • $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
      View Details
    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.
    2021 Midwest Rd
    Oak Brook, IL 60523-1342
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!