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    Property profile & analytics

    2208 Midwest Rd Oak Brook, IL 60523-1277

    • Office buildings
    • 19,282 SF
    • 0.88 lot acres
    OFF-MARKET
    Value Estimations
    $565,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2713853
    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

    • Oak Brook Dental Associates, Vasilios S. Panos DDS / Dentist
    • Oak Brook Dental Associates / Dentist
    • Daniel Rostein, MD SC / Fertility Physician / Doctor
    • Gilda Arts & Gallery / Art Gallery
    • Allied Emergency Services, Roofing, Siding, Windows / Carpenter / General Contractor

    Property Details for 2208 Midwest Rd

    Year built
    1971
    Lot size
    0.88 lot acres
    Property size
    19,282 SF
    Zone code
    C
    Property type
    Office buildings
    APN
    06-27-100-021
    APU
    627100021

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $565,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Oak Brook
    County
    Dupage
    State
    Illinois
    Longitude
    -87.9731
    Latitude
    41.8452
    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
    $24,220
    $368,440
    $236,520
    $604,960
    -
    $1,105,320
    $709,560
    $1,814,880

    Comparable in this City

    • Value Estimation
      $1,075,000
      111,306 SF

      2715 Jorie Blvd

      OFFICE BUILDING • 111,306 SF
      2715 Jorie Blvd, Oak Brook, IL 60523-2160
      View Details
    • Value Estimation
      $1,080,000
      142,352 SF

      900 Jorie Blvd

      OFFICE BUILDING • 142,352 SF
      900 Jorie Blvd, Oak Brook, IL 60523-2213
      View Details
    • Value Estimation
      $1,000,000
      442,326 SF

      1415 22nd St

      OFFICE BUILDING • 442,326 SF
      1415 22nd St, Oak Brook, IL 60523-2074
      View Details
    • Value Estimation
      $905,000
      205,536 SF

      800 Jorie Blvd

      OFFICE BUILDING • 205,536 SF
      800 Jorie Blvd, Oak Brook, IL 60523-2296
      View Details
    • Value Estimation
      $465,000
      1,113 SF

      1st Smt Avee-1

      OFFICE BUILDING • 1,113 SF
      1st Smt Avee-1, Oak Brook, IL 60523
      View Details
    • Value Estimation
      $465,000
      1,089 SF

      1st Smt Avee-4

      OFFICE BUILDING • 1,089 SF
      1st Smt Avee-4, Oak Brook, IL 60523
      View Details

    Similar Nearby for Sale

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      58,010 SF

      Renovated Office Building Near I-88

      Three-story office building with open floor plans and ample parking.
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      Three-story office building in Oak Brook with renovated common areas.
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      High visibility location with easy expressway access in Oak Brook.
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      Oak Brook Office Building Investment

      58,010 SF Office, Ample Parking, Excellent Location
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    • $5,650,000
      50,564 SF

      Midwest Plaza North: Oak Brook Office

      Modern Oak Brook office building, 50,564 SF, $5.65M.
      2115 Butterfield Rd, Oak Brook, IL 60523
      View Details
    • Contact for pricing
      72,241 SF

      Oak Brook Premier Office Space

      Furnished office space with amenities and convenient highway access.
      903 Commerce Dr, Oak Brook, IL 60523
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      203,000 SF

      Prestigious Suburban Chicago Office Space

      Premier office building with excellent access and amenities.
      1999 York Rd, Oak Brook, IL 60523
      View Details
    • $15 SF/Yr
      3,100 SF

      Oak Brook Two-Story Office Building

      27,498 SF office building with suites from 500-3,100 SF.
      2210 Midwest Rd, 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
      17,749 SF

      Prime Oak Brook Office Space

      Conveniently located office space with easy access and ample parking.
      1111 W 22Nd St, Oak Brook, IL 60523
      View Details
    • $17 SF/Yr
      36,720 SF

      Modernist Office Building For Rent

      Unique office building with flexible floorplan and prominent signage.
      2222 Kensington Ct, 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
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    2208 Midwest Rd
    Oak Brook, IL 60523-1277
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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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