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Gallery Office Center

Off-Market

1S443 Summit Avenue, Oakbrook Terrace, IL 60181

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  • Property Type Office - General Office
  • Property Size 28,806 Sqft
  • Lot Size 1.18 Acre
  • Parking Spaces Avail. 89
  • Parking Ratio 3.10/ 1,000 SF
  • Property Tenancy Multi-Tenant
  • Building Class B
  • Year Built 1985

Location

  • City Oakbrook Terrace, IL
  • Neighborhood Oakbrook Terrace
  • Zip Code 60181
  • Market Chicago

Contacts

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Owner

  • True Owner
  • Registered Owner

Tenants

Suite Name Tenant Leased
Space
Rent Price Lease
Type
Space
Type
Lease Term
370 17th Street #5500 MERRILL, (303) 446-5500 23,824 SF $23/SF/YR Modified
Gross
General
Office
11/01/2014-
N/A
370 17th Street
#6000
Morrison & Foerster,
(303) 592-1500
10,710 SF $26/SF/YR Full
Service
General
Office
08/01/2013-
07/31/2023
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Documents

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Sales

  • Purchase Date 13 Nov, 2020
  • Purchase Price $3,730,000
  • Arm's Length
  • Buyer Name

Mortgages

  • Current Lender
  • Loan Amount
  • Loan Origination Date

Market Trends

Average Actual Rents in Oakbrook Terrace

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent
Net Rent
$44.3/SF/YR
Recoverables Show detailsHide details
$16.7/SF/YR
CAM
$3.54/SF/YR
Insurance
$0.59/SF/YR
Taxes
$9.52/SF/YR
Utilities
$1.76/SF/YR
Management Fees
$1.3/SF/YR
Total Rent
$61/SF/YR
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Occupancy & Leasing Activity
Occupancy
83.5%
Lease Spread
-20.5%
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Asking Rents in Oakbrook Terrace Office Market

Office rental rates are based on aggregated data of asking rates.

  • 2020 Avg. Asking Rent $26.82
  • 2020 Office Vacancy Rate 18.28 %
  • 2020 Office Completions (Sqft)
View more Oakbrook Terrace market trends

Tax

  • Property Tax in 2019 $55,450
  • Market Value $2,904,210
  • Assessed Value $2,904,210

Find more tax info, including assessment history and abatements, on CommercialEdge

Frequently Asked Questions

What is the total square footage of Gallery Office Center?

Gallery Office Center totals 28,806 square feet.

When was this property built?

Gallery Office Center was built in 1985.

When was Gallery Office Center last sold?

Gallery Office Center was last sold on 13 Nov, 2020.

What was the last purchase price for Gallery Office Center?

Gallery Office Center was last sold for $3,730,000.

What is the property tax for Gallery Office Center?

The property tax for Gallery Office Center in 2019 was $55,450.

What is the market value for Gallery Office Center?

The market value for Gallery Office Center in 2019 was $2,904,210.

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