Two-Unit Industrial
New
For Sale
$1,300,000
135 Martin Lane, Elk Grove Village, IL 60007
Commercial Sale, Elk Grove Village, IL
Property Size11,400 SF
Lot Size0.66 Acres
Price / SF$114.04
Days on Market2
Property Features for 135 Martin Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
INDUS
Directions
East on E Higgings, right on Martin ln
Subdivision
Elk Grove Village
Standard status
Active
APN
08223010380000
Lot size
0.66 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
47683
Utilities
Cooling system
Central Air
Building Details
Year built
1974
Floors in Building
1
Number of units
2
Listing Agency:
RE/MAX Suburban · RE/MAX International
(847) 367-8686
Listed By:
Jason Bitton · License #475170841
(847) 259-0202
Added: Sep 6
Last Checked: Sep 7 at 4:06AM
MLS# 12752679
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This one-story brick industrial property is divided into two separately accessed units. Unit B offers approximately 4,200 SF, a semi-truck dock, a 10-foot drive-in door, warehouse heaters, offices, and two restrooms. Unit A contains approximately 7,200 SF and includes a 12-foot drive-in door, warehouse and private offices, a kitchenette, mezzanine, and restrooms. Unit B is vacant at closing, while Unit A is leased through June 30, 2027. The building provides approximately 14 feet of clear height, and Unit B includes three-phase service with two 200-amp panels and a 100-amp tap.
The 0.66-acre parcel includes paved parking for approximately 20 cars and a rear paved yard on a 250-foot-deep lot. The roof is a mechanically attached TPO system installed in 2007 and inspected in 2025-26. Unit A’s furnace, evaporator coil, and 4-ton rooftop condenser were replaced in July 2026. I-1 Restricted Industrial District zoning permits warehousing, wholesale sales, light assembly, manufacturing, laboratories, data centers, and professional offices by right. Higgins Road, the Jane Addams Tollway, I-90, and O’Hare cargo facilities are nearby.
The 0.66-acre parcel includes paved parking for approximately 20 cars and a rear paved yard on a 250-foot-deep lot. The roof is a mechanically attached TPO system installed in 2007 and inspected in 2025-26. Unit A’s furnace, evaporator coil, and 4-ton rooftop condenser were replaced in July 2026. I-1 Restricted Industrial District zoning permits warehousing, wholesale sales, light assembly, manufacturing, laboratories, data centers, and professional offices by right. Higgins Road, the Jane Addams Tollway, I-90, and O’Hare cargo facilities are nearby.
Key Highlights
- Two separately accessed industrial units: approximately 4,200 SF and 7,200 SF
- Unit B is vacant at closing and includes a semi‑truck dock plus a 10‑foot drive‑in door
- Approximately 14' clear height and three‑phase service with two 200‑amp panels and a 100‑amp tap
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$59,589
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.58%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,191,780
$1.2M
Cap Rate 7%
$851,271
$851.3K
Cap Rate 9%
$662,100
$662.1K
Market Conditions
NOI Build-Up for 11,400 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$73.9K $6.48/SF
− Vacancy
−$3.8K −$0.33/SF
EGI
$70.1K $6.15/SF
− OpEx
−$10.5K −$0.92/SF
NOI
$59.6K $5.23/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,191,780
Cap Rate 7%
$851,271
Cap Rate 9%
$662,100
Alternative Uses
Best Use
Flex RnD
$1.71M
$1.50M – $2.00M
NOI $120,042 @ 7.0% cap · market cap 9.23%
Second Best
Warehouse
$851.3K
$744.9K – $993.2K
NOI $59,589 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$3.94M
$3.44M – $4.59M
NOI $275,513 @ 7.0% cap · market cap 21.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
1
Dock-high doors
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,064
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60007, IL
33,670
Population
13,580
Households
2.5
Avg Household Size
45
Median Age
41%
College-Educated
92%
High-School Grad
18.1 sq mi
ZIP Area
1,860
Density / Sq Mi
$95,240
Median Household Income
$54,762
Median Earnings
$1,574
Median Rent
$334,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - I-1 zoning supports warehousing, light manufacturing, laboratories, data centers, and professional offices by right.
Where is this warehouse located?
The property is located at 135 Martin Lane Elk Grove Village, IL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Two separately accessed industrial units: approximately 4,200 SF and 7,200 SF; Unit B is vacant at closing and includes a semi‑truck dock plus a 10‑foot drive‑in door; Approximately 14' clear height and three‑phase service with two 200‑amp panels and a 100‑amp tap
