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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    600 Ogden Ave Downers Grove, IL 60515-2940

    • Hotels
    • 6,350 SF
    • 0.69 lot acres
    OFF-MARKET
    Last Sale
    Oct 26, 2023
    $1,285,500
    Value Estimations
    $1,225,000
    Show details
    Cap Rate Potential
    4.2%
    Hotels
    Location Intelligence
    Property ID
    US28-3053781
    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.

    Current Use by Public Records

    • Sybaris Downers Grove / Hotel & Motel / Resort

    Property Details for 600 Ogden Ave

    Year built
    1935
    Lot size
    0.69 lot acres
    Property size
    6,350 SF
    Zone code
    N
    Property type
    Hotels
    APN
    09-05-212-014
    APU
    905212014

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,140,000
      ML approach
      $1,185,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $819,000
      Market price range: $489k - $819k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,975,000
      COMMERCIAL (GENERAL)
      $1,565,000
      MEDICAL BUILDING
      $1,430,000
      RETAIL STORES
      $1,370,000
      OFFICE BUILDING
      $1,140,000
      INDUSTRIAL (GENERAL)
      $740,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Downers Grove
    County
    Dupage
    State
    Illinois
    Longitude
    -88.0002
    Latitude
    41.8098
    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
    $22,363
    $196,870
    $179,340
    $376,210
    -
    $590,610
    $538,020
    $1,128,630

    Comparable in this City

    • Value Estimation
      $11,355,000
      204,976 SF

      2111 Butterfield Rd

      HOTEL/MOTEL • 204,976 SF
      2111 Butterfield Rd, Downers Grove, IL 60515-1043
      View Details
    • Value Estimation
      $14,590,000
      173,612 SF

      1500 Opus Pl

      HOTEL/MOTEL • 173,612 SF
      1500 Opus Pl, Downers Grove, IL 60515-5719
      View Details
    • Value Estimation
      $3,770,000
      60,972 SF

      3031 Finley Rd

      HOTEL/MOTEL • 60,972 SF
      3031 Finley Rd, Downers Grove, IL 60515-1117
      View Details
    • Value Estimation
      $4,245,000
      67,620 SF

      3150 Finley Rd

      HOTEL/MOTEL • 67,620 SF
      3150 Finley Rd, Downers Grove, IL 60515-1154
      View Details
    • Value Estimation
      $2,830,000
      40,704 SF

      1113 Butterfield Rd

      HOTEL/MOTEL • 40,704 SF
      1113 Butterfield Rd, Downers Grove, IL 60515-1057
      View Details
    • Value Estimation by Request
      3.31 Acres

      2111 Butterfield Rd

      HOTEL/MOTEL • 3.31 Acres
      2111 Butterfield Rd, Downers Grove, IL 60515-1043
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      51,200 SF

      Downers Grove Warehouse/Distribution Space

      Pristine 12,800 SF unit near I-355 and Metra.
      5365 Walnut Ave, Downers Grove, IL 60515
      View Details
    • $2,500,000
      1.00 Acre

      Downers Grove Commercial Property

      Multiple-use property in a high-traffic retail corridor.
      1340 Ogden Ave, Downers Grove, IL 60515
      View Details
    • $2,500,000
      1.00 Acre

      Downers Grove Commercial Property

      Multiple-use property in a high-traffic retail corridor.
      1340 Ogden Ave, Downers Grove, IL 60515
      View Details
    • $199,000
      0.17 Acres

      Land Near Downtown Downers Grove

      Land for sale near downtown Downers Grove, Illinois.
      4022 Earlston Rd, Downers Grove, IL 60515
      View Details
    • Contact for pricing
      72,929 SF

      Downers Grove Industrial Facility

      72,929 SF industrial facility with specialized food production capabilities.
      3131 Woodcreek Dr, Downers Grove, IL 60515
      View Details
    • Contact for pricing
      47,384 SF

      Downers Grove Office Building For Sale

      47,384 SF office building with available space.
      1001 W 31St St, Downers Grove, IL 60515
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9,130 SF

      Downtown Downers Grove Office Space

      Historic Landmark, 4,655 SF Available
      5133 Main St, Downers Grove, IL 60515
      View Details
    • $75 SF/Yr
      11,827 SF

      Downtown Downers Grove Office Space

      Class A Office Suites, Coworking Available
      1431 Opus Pl, Downers Grove, IL 60515
      View Details
    • Contact for pricing

      Downers Grove Commercial Space Available

      Commercial space with drive-through, existing infrastructure, and ample power.
      440 Ogden Ave, Downers Grove, IL 60515
      View Details
    • Contact for pricing

      Downers Grove Medical Office Space

      Shared medical office space in Downers Grove, available January 1st.
      1121 Warren Ave, Downers Grove, IL 60515
      View Details
    • Contact for pricing
      8,118 SF

      Downers Grove Office Space Available

      8,118 square foot office space for rent.
      3025 Highland Pkwy, Downers Grove, IL 60515
      View Details
    • Contact for pricing
      5,070 SF

      Downers Grove Flex Space Available

      Well-maintained flex space near I-355 and Maple Avenue.
      5201 Thatcher Rd, Downers Grove, IL 60515
      View Details
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    600 Ogden Ave
    Downers Grove, IL 60515-2940
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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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