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Property profile & analytics
OFF-MARKET
Estimated value
$1,715,000
Office buildings
240 Willow Ave, Wheaton, IL 60187-5474
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US28-2705317
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,032 SF
Lot
0.37 ac (16,117 SF)
Zoning code
C
APN
05-16-325-019
UPID
US28-2705317
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
-
Performance Trust Capital Partners Financial Advisor
-
Stayyy.com Animal Training
-
Wheaton Dog Training: Stayyy.com Animal Training
-
Joseph Walter Papuga Alternative Medicine Practice
-
Dr. Joseph Papuga Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.85M
CAP Approach
CAP
$1.59M
Comparable Approach
Comparable
$1.74M
Blend (final)
Blend
$1.72M
Owner & transaction history
Masulis Development LLC · 3 yrs held
Masulis Development LLC
since 2022
Last sale
$1.7M
6 recorded transactions
Zoning & alternative use
C · Wheaton, IL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.5M
+121.0%
Restaurant
$2.2M
+94.3%
Medical building
$1.6M
+40.7%
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 Wheaton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wheaton 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
$1,975,000
ML approach
$1,850,000
CAP Approach
CAP Return
Estimation
6%
$1,725,000
6.5%
$1,590,000
7%
$1,475,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,125,000
Current use
AUTO REPAIR, GARAGE
$2,490,000
Change: +121% · Conversion: Difficult
RESTAURANT
$2,185,000
Change: +94% · Conversion: Moderate
MEDICAL BUILDING
$1,585,000
Change: +41% · Conversion: Easy
RETAIL STORES
$1,515,000
Change: +35% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,475,000
Change: +31% · Conversion: Easy
Blend value · Realmo final
$1.72M
Range $1.54M – $1.89M · ±10% · vs last sale $1.70M (Aug 1 2022)
Last sale anchor
$1.70M
Aug 1 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
$244 / 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
$28,805
Tax year 2023
Assessed value
$403,280
Assessed 2023
Previous assessed
$381,120
+5.8% YoY
Effective rate
7.14%
On assessed value
Assessed land
$115,090
Assessed improvement
$288,190
Land market value
$345,270
Improvement market value
$864,570
Total market value
$1,209,840
Applied tax rate
5,323.0000
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
Off-Market
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
7,032 SF
Lot
0.37 ac (16,117 SF)
Zoning code
C
APN
05-16-325-019
UPID
US28-2705317
Jurisdiction
DU PAGE
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
C · Wheaton, IL
Zoning C · permitted uses
C · Wheaton, IL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wheaton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$2.5M
RESTAURANT
Est. value
$2.2M
MEDICAL BUILDING
Est. value
$1.6M
RETAIL STORES
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.5M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RESTAURANT
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.37 ac
Current owner
From public records · entity-resolved
Masulis Development LLC
Entity
Mailing address
850 W BARTLETT RD STE 1C, BARTLETT, IL 60103-4454
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 1, 2022
$1,700,000
Masulis Development LLC
Equity Partners Asset Management Ll
Warranty Deed
$1,200,000 · Blackhawk Bank
Aug 23, 2018
—
Equity Ptrs Asset Mgmt LLC
—
Deed
related
$1,642,781 · Wheaton Bk&tr
Oct 3, 2005
—
Equity Partners Asset Mgmt LLC
—
Trustees Deed
related
$464,000 · Lasalle National Bank
Jun 14, 2005
—
Equity Partners Asset Mgmt LLC
Metropolitan Family Services
Warranty Deed
$688,000 · Lasalle National Bank
—
—
Equity Partners Asset Mgmt LLC
—
Deed Of Trust
related
$150,000 · Lasalle National Bank
—
—
Equity Ptrs Asset Mgmt LLC
—
Loan Modification
related
$1,642,781 · Wheaton Bk&tr
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.
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