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    27 W Jefferson Ave Naperville, IL 60540
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    27 W Jefferson Ave, Naperville, IL 60540

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    • Investment properties
    • 3,272 SF
    • 0.09 lot acres
    For Lease
    $585,000
    View Listing →
    Downtown Retail Space For Lease For Lease
    $585,000
    1,842 SF

    Downtown Retail Space For Lease

    Retail space in downtown Naperville with planned renovations.

    27 W Jefferson Ave, Naperville, IL
    View Listing
    Property ID
    US28-5130635
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Adagio Teas Naperville / (Bike/Boat/Book/etc) Store / Specialty Food Shop
    • Wilson Forte Law / Law Firm
    • Zinq Design - Build Studio / Renovation Specialist / General Contractor

    Property Details for 27 W Jefferson Ave

    Lot size
    0.09 lot acres
    Zone code
    B
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    07-13-423-013
    APU
    713423013

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 30, 2025 — Jefferson Naperville LLC — Deed · related $6.4M · Lakeside Bank
    Apr 7, 2023 — Jefferson Naperville LLC — Deed · related $8.3M · Lakeside Bank
    Apr 14, 2017 $10,500,000 Jefferson Naperville LLC Jefferson Capital LLC Warranty Deed $4.6M · Barclays Bk/plc
    Jul 30, 2007 $1,700,000 Towne Centres Holdings Ltd Andrews,jeffrey C & Rae Warranty Deed $1.5M · Private Bank & Trust Co
    Aug 17, 1998 $335,000 Jeffrey C Andrews Klingbeil,thomas H & Deborah S Grant Deed $296k · Valley Community Bank
    — — Jeffrey C Andrews — Deed Of Trust · related $133k · Valley Community Bank
    — — Jefrey C Andrews — Deed Of Trust · related $392k · Valley Community Bank
    — — Jeffrey C Andrews — Deed Of Trust · related $75k · Valley Community Bank
    — — Jeffrey C Andrews — Deed Of Trust · related $440k · Harris Bank Naperville
    — — Jeffrey C Andrews — Deed Of Trust · related $130k · Harris Bank Naperville

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $685,000
      6.5%
      $630,000
      7%
      $585,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $755,000
      Current use
      MEDICAL BUILDING
      $735,000
      Change: -3% Conversion: Easy
      OFFICE BUILDING
      $710,000
      Change: -7% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Naperville
    County
    Dupage
    State
    Illinois
    Longitude
    -88.1489
    Latitude
    41.7733
    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
    $24,723
    $103,130
    $208,340
    $311,470
    -
    $309,390
    $625,020
    $934,410

    Comparable in this City

    • Value Estimation
      $7,825,000
      62,931 SF

      47 Chicago Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      47 Chicago Ave, Naperville, IL 60540-5325
      View Details
    • Value Estimation
      $2,390,000
      6,601 SF

      8 Chicago Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      8 Chicago Ave, Naperville, IL 60540-5382
      View Details
    • Value Estimation
      $825,000
      6,325 SF

      232 Washington St

      OFFICE/RESIDENTIAL (MIXED USE)
      232 Washington St, Naperville, IL 60540-5361
      View Details
    • Value Estimation
      $1,520,000
      11,537 SF

      14 Chicago Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      14 Chicago Ave, Naperville, IL 60540-5302
      View Details
    • Value Estimation
      $1,385,000
      9,342 SF

      15 Jefferson Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      15 Jefferson Ave, Naperville, IL 60540-5375
      View Details
    • Value Estimation
      $625,000
      3,567 SF

      10 Jefferson Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      10 Jefferson Ave, Naperville, IL 60540-5346
      View Details

    Similar Nearby for Sale

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      Naperville Land with Development Potential

      Rare full-sized lot in downtown Naperville, ideal for multifamily development.
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      Prime Corner Commercial Land Available

      Corner lot suitable for retail, office, hotel, or restaurant.
      Diehl Rd, Naperville, IL 60540
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    • $2,370,583

      Naperville Commercial Land Opportunity

      Prime commercial land for sale in Naperville, Illinois.
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    • Contact for pricing

      3.3 Acre Commercial Pad Site

      3.3 acre commercial pad site on Route 59.
      1975 Glacier Park, Naperville, IL 60540
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Mixed-Use Destination in Downtown Naperville

      Mixed-use property with shopping, office, and dining in downtown Naperville.
      55 S Main St, Naperville, IL 60540
      View Details
    • $9 SF/Yr
      13,680 SF

      Naperville Office Building for Sale

      Prime Naperville Office Space, Multiple Suites Available
      1288 Rickert Dr, Naperville, IL 60540
      View Details
    • Contact for pricing

      Retail Space on Route 59

      Retail space for lease in Naperville's busiest retail corridor.
      1120 Illinois Rte 59, Naperville, IL 60540
      View Details
    • Contact for pricing
      2,500 SF

      Prime Retail Space in Naperville

      2,500 SF retail space in downtown Naperville for lease.
      111-123 W Jefferson Ave, Naperville, IL 60540
      View Details
    • Contact for pricing

      High-Visibility Pad Site Opportunity

      Rare commercial land for lease at high-traffic Home Depot.
      2960 Audrey Ave, Naperville, IL 60540
      View Details
    • Contact for pricing
      271 SF

      Naperville Office Space Available

      Office space available for rent in Naperville, Illinois.
      29 S Webster St, Naperville, IL 60540
      View Details

    Property Visit Statistics

    • Visits by month
      1.2k
    • Visitors by month
      917
    • Avg Time on site
      22 min
    View Listing
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    Naperville, IL 60540
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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.

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