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Property profile & analytics
FOR LEASE
Office buildings
350 E 22Nd St, Lombard, IL 60148
Entity Owned
11-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US28-1576060
For Lease
1 / 2
$17 SF/Yr
350 E 22Nd St, Lombard, IL 60148
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1978
Total area
9,932 SF
Lot
0.81 ac (35,284 SF)
Zoning code
C
APN
06-30-200-030
UPID
US28-1576060
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.05M
Blend (final)
Blend
$1.05M
Owner & transaction history
Lombard Sp LLC · 11 yrs held
Lombard Sp LLC
since 2015
7 recorded transactions
Zoning & alternative use
C · Lombard, 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 Lombard submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lombard 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,405,000
Current use
RETAIL STORES
$1,390,000
Change: -1% · Conversion: Moderate
Blend value · Realmo final
$1.05M
Range $945k – $1.16M · ±10%
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
$106 / 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
$13,735
Tax year 2023
Assessed value
$170,800
Assessed 2023
Previous assessed
$162,540
+5.1% YoY
Effective rate
8.04%
On assessed value
Assessed land
$105,070
Assessed improvement
$65,730
Land market value
$315,210
Improvement market value
$197,190
Total market value
$512,400
Applied tax rate
6,011.0000
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
1978
Heating
NONE
Total area
9,932 SF
Lot
0.81 ac (35,284 SF)
Zoning code
C
APN
06-30-200-030
UPID
US28-1576060
Jurisdiction
DU PAGE
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
C · Lombard, IL
Zoning C · permitted uses
C · Lombard, IL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lombard. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.4M
RETAIL STORES
Est. value
$1.4M
OFFICE BUILDING Current
RETAIL STORES
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
1978
Heating
NONE
Lot
0.81 ac
Current owner
From public records · entity-resolved
Lombard Sp LLC
Entity
Mailing address
205 E BUTTERFIELD RD #426, ELMHURST, IL 60126-7200
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 7, 2017
—
Lombard Sp LLC
—
Deed
related
$275,915 · Peoples Bank Sb
May 12, 2015
$233,333
Lombard Sp LLC
Lsref3 Sapphire 2 LLC
Grant Deed
—
Jan 13, 2015
—
Lsref3 Sapphire 2 LLC
Lsref3 Saphire LLC
Quit Claim Deed
related
—
Aug 29, 2014
—
Lsref3 Sapphire LLC
Sheriff Of Dupage County
Trustees Deed
related
—
Jun 14, 2004
$3,500,000
Spentzas,nick & Helen
West Suburban Bank Trustee
Trustees Deed
—
Jun 14, 2004
—
Nick Spentzas
—
Deed Of Trust
related
$2,500,000 · Harris Bank Hinsdale NA
Mar 19, 1999
$950,000
Manohar L Jain
Samuel Bingham Co
Grant Deed
$950,000 · Oxford Bank & Trust
—
—
Manohar L Jain
—
Deed Of Trust
related
$1,400,000 · Oxford Bank & Trust
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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