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Property profile & analytics
FOR LEASE
Office buildings
2349 W Lake St Addison, IL 60101
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US28-3032182
For Lease
1 / 2
$8,180,000
2349 W Lake St, Addison, IL 60101
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2000
Construction
MIXED
Total area
117,418 SF
Lot
9.79 ac (426,452 SF)
Zoning code
I
APN
02-13-303-043
UPID
US28-3032182
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
-
Arjo Inc. Medical Group
-
Option Care Health Production Facility Construction Company
-
ARJO PATIENT HANDLING Production Facility
-
Adtalem Global Education College
-
Chicago Funding Inc Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.18M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.13M
Blend (final)
Blend
$8.18M
Owner & transaction history
Addison Greenbriar LLC · 2 yrs held
Addison Greenbriar LLC
since 2024
Last sale
$8.2M
3 recorded transactions
Zoning & alternative use
I · Addison, 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 Addison submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Addison 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
$8,180,000
ML approach
$8,180,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$8.18M
Range $7.36M – $9.00M · ±10% · vs last sale $8.18M (Jun 14 2024)
Last sale anchor
$8.18M
Jun 14 2024
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
$70 / 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
$258,594
Tax year 2023
Assessed value
$3,136,790
Assessed 2023
Previous assessed
$3,666,270
-14.4% YoY
Effective rate
8.24%
On assessed value
Assessed land
$995,050
Assessed improvement
$2,141,740
Land market value
$2,985,150
Improvement market value
$6,425,220
Total market value
$9,410,370
Applied tax rate
2,001.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2000
Construction
MIXED
Heating
NONE
Total area
117,418 SF
Lot
9.79 ac (426,452 SF)
Zoning code
I
APN
02-13-303-043
UPID
US28-3032182
Jurisdiction
DU PAGE
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
I · Addison, IL
Zoning I · permitted uses
I · Addison, IL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Addison. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2000
Construction
MIXED
Heating
NONE
Lot
9.79 ac
Current owner
From public records · entity-resolved
Addison Greenbriar LLC
Entity
Mailing address
1 N WACKER DR STE #440, CHICAGO, IL 60606-2919
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Jun 14, 2024
$8,180,000
Addison Greenbriar LLC
Exeter 2349 W Lake LLC
Special Warranty Deed
$3,325,000 · Signature Bank
Sep 24, 2019
$15,925,000
Exeter 2349 W Lake LLC
Vth 6 LLC
Special Warranty Deed
—
Dec 11, 2012
$7,798,000
Vth 6 LLC
Meadows Office Building LLC
Grant Deed
—
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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