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    3250 Lacey Rd Downers Grove, IL 60515
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    Property profile & analytics

    3250 Lacey Rd Downers Grove, IL 60515

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    • Office buildings
    • 157,874 SF
    • 2.58 lot acres
    For Lease
    $33 SF/Yr
    View Listing →
    Downers Grove Office Space Available For Lease
    $33 SF/Yr
    21,460 SF

    Downers Grove Office Space Available

    Office space with corner window-line and six private offices.

    3250 Lacey Rd, Downers Grove, IL
    View Listing
    Property ID
    US28-1064774
    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

    • Atlantic Power Corporation / Electric Utility Company
    • Physicians Digital Services / Advertising Agency / Marketing & Advertising
    • Sharp Business Systems / Tech Support Center / IT Consulting Firm
    • Remote Patient Devices llc / Production Facility
    • Dean Johnson Advisory / Financial Advisor

    Property Details for 3250 Lacey Rd

    Year built
    2001
    Lot size
    2.58 lot acres
    Property size
    157,874 SF
    Zone code
    C
    Property type
    Office buildings
    APN
    06-31-100-022
    APU
    631100022

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $24,768,000
      Market price range: $18.4M - $40.7M
      AI Estimate
      $12,474,000
      Market price range: $1.52M - $23.6M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $28,295,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Downers Grove
    County
    Dupage
    State
    Illinois
    Longitude
    -88.0324
    Latitude
    41.8289
    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
    $312,506
    $504,790
    $4,745,210
    $5,250,000
    -
    $1,514,370
    $14,235,630
    $15,750,000

    Comparable in this City

    • Value Estimation
      $32,960,000
      304,995 SF

      1901 Butterfield Rd

      OFFICE BUILDING • 304,995 SF
      1901 Butterfield Rd, Downers Grove, IL 60515-7915
      View Details
    • Value Estimation
      $26,975,000
      227,600 SF

      1431 Opus Pl

      OFFICE BUILDING • 227,600 SF
      1431 Opus Pl, Downers Grove, IL 60515-1166
      View Details
    • Value Estimation by Request
      534,583 SF

      3500 Lacey Rd

      OFFICE BUILDING • 534,583 SF
      3500 Lacey Rd, Downers Grove, IL 60515-5422
      View Details
    • Value Estimation
      $6,620,000
      46,669 SF

      3020 Woodcreek Dr

      OFFICE BUILDING • 46,669 SF
      3020 Woodcreek Dr, Downers Grove, IL 60515-5416
      View Details
    • Value Estimation
      $6,025,000
      42,344 SF

      3300 Woodcreek Dr

      OFFICE BUILDING • 42,344 SF
      3300 Woodcreek Dr, Downers Grove, IL 60515-5437
      View Details
    • Value Estimation by Request
      2,109 SF

      3800 Highland Ave Ste, Unit 103

      OFFICE BUILDING • 2,109 SF
      3800 Highland Ave Ste, Downers Grove, IL 60515-1559
      View Details

    Similar Nearby for Sale

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      11,886 SF

      Downers Grove Office Building For Sale

      Professionally maintained office building with excellent potential in Downers Grove.
      2051 Ogden Ave, Downers Grove, IL 60515
      View Details
    • Contact for pricing

      Downers Grove Office Building For Sale

      47,384 SF office building with available space.
      Downers Dr, Downers Grove, IL 60515
      View Details
    • $614,900
      0.21 Acres

      Downers Grove Commercial Building

      Well-maintained commercial building suitable for various businesses.
      425 Ogden Ave, Downers Grove, IL 60515
      View Details
    • $999,000

      Fully Equipped Dental Suite

      Professional office setting with 4 operatories and ample parking.
      3000 Woodcreek Dr, Downers Grove, IL 60515
      View Details
    • Contact for pricing
      14,000 SF

      Downers Grove Medical Office Building

      Fully leased medical office building in Downers Grove, Illinois.
      4333 Main St, Downers Grove, IL 60515
      View Details
    • $279,900
      0.55 Acres

      Downers Grove Office Condo

      Exceptional office condo in a prime Downers Grove location.
      1557 Warren Ave, Downers Grove, IL 60515
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      236,176 SF

      Downers Grove Office Space Available

      Office building with convenient access and prominent signage opportunities.
      3075 Highland Pkwy, Downers Grove, IL 60515
      View Details
    • Contact for pricing
      150,000 SF

      Downers Grove Office Space Available

      Office property with amenities in Downers Grove, Illinois.
      2655 Warrenville Rd, Downers Grove, IL 60515
      View Details
    • Contact for pricing
      149,550 SF

      Downers Grove Office Space Available

      Office building in Downers Grove with many amenities.
      2651 Warrenville Rd, Downers Grove, IL 60515
      View Details
    • Contact for pricing

      Downtown Downers Grove Office Building

      Three-story office building in downtown Downers Grove, Illinois.
      5100 Main St, Downers Grove, IL 60515
      View Details
    • Contact for pricing
      36,506 SF

      Class A Office Building

      Class A office building with convenient highway access and amenities.
      3050 Highland Pkwy, Downers Grove, IL 60515
      View Details
    • Contact for pricing

      Downers Grove Office Space Available

      Office space for rent in Downers Grove, Illinois.
      3500 Lacey Rd, Downers Grove, IL 60515
      View Details
    View Listing
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    Downers Grove, IL 60515
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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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