Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Palatine Flex Industrial/Warehouse Space Title is generated by Realmo AI

    305 N Eric Drive, Palatine, IL 60067

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    COMMERCIAL - Palatine, IL

    Type:Retail
    Property size:
    14,200 SF
    Added:
    Apr 9, 2026
    Days on Market:
    55
    Last Refresh:
    Jun 2 at 5:06 pm

    Property Features for 305 N Eric Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Standard status
    Active
    Size
    14,200 SF

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    78358

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1995
    Floors in Building
    1

    We can help!

    Listing Contact
    Christopher Demas

    Listing agent Christopher Demas License #471019127

    Listing office Leading Edge Realty Advisors 2516 Waukegan Rd, Chicago, IL

    Listing date Apr 9, 2026

    MLS# 12614286

    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.

    HighLights

    • Flexible industrial/warehouse space ranging from 1,200 to 14,200 SF.
    • Drive‑in door access suitable for warehouse and contractor operations.
    • Fenced outdoor yard space for storage.
    • Ideal location for contractors, warehouse operators, service businesses, or fitness facilities.
    • Flexible industrial layout suitable for small and growing businesses.
    • Located in Palatine, IL, near Schaumburg, in the Northwest Chicago suburbs.

    Overview

    Located in Palatine, Illinois, 305 N Eric Dr offers flexible industrial and warehouse space for lease. The property provides 1,200 - 14,200 SF of industrial flex space suitable for contractors, warehouse operators, service companies, and fitness users seeking commercial space in the Northwest Chicago suburbs. The location is highly functional for businesses searching for warehouse space for lease in Palatine, industrial space near Schaumburg, or contractor garage space in the Northwest Chicago suburbs. The property features drive-in door access for warehouse and contractor operations and fenced outdoor yard space for vehicle, equipment, or material storage. The industrial layout is flexible and suitable for small and growing businesses. It is ideal for contractor space, warehouse space, service businesses, or fitness facilities.
    Property Profile Location Intelligence

    Current Use by Public Records

    AVI Electronics Corp Corporate Office Ultimate Plumbing Supply Department Store LM Property Solutions Construction Company

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Taco Shop — 809 N Quentin Rd, Palatine, IL 60067
    • georgia's soulfood catering — 830 W Northwest Hwy, Palatine, IL 60067
    • Rockin Rodizio — 2309, 773 n quentin rd, palatine, il 60067

    Location Insight

    • Map
    • Local Demand
    City
    Palatine
    County
    Cook
    State
    Illinois
    Longitude
    -88.0510812
    Latitude
    42.1165441

    Nearby Similar for Lease

    • Contact for pricing

      Retail Space in Palatine, IL

      1,800 SF retail space available for lease.
      783 Quentin Road N, Palatine, IL 60067
      View Details
    • $21 SF/Yr
      5,000 SF

      Retail Space in Palatine Center

      Retail space for lease in a well-located Palatine shopping center.
      753 W Palatine Road, Palatine, IL 60067
      View Details
    • $2,500/Mo
      1,500 SF

      Retail Space on Northwest Highway

      Retail space for lease in a high-traffic shopping center.
      293 N NORTHWEST Highway 293, Palatine, IL 60067
      View Details
    • Contact for pricing

      Retail Space in Palatine, IL

      2,500 sq ft retail space available for immediate occupancy.
      1296 E Dundee Road, Palatine, IL 60074
      View Details
    • $27 SF/Yr
      845 SF

      Prime Retail Space in Palatine

      Retail space in downtown Palatine with high visibility.
      44-60 W Palatine Rd, Palatine, IL
      View Details
    • $1,000/Mo
      1,200 SF

      Retail/Office Space in Palatine

      Retail/office spaces available in a shopping center with ample parking.
      315 W Northwest Hwy, Palatine, IL
      View Details
    • Contact for pricing
      21,473 SF

      Palatine Retail Space For Lease

      Retail spaces available in Palatine, high visibility and accessibility.
      201-285 West Dundee Road, Palatine, IL 60074
      View Details
    • $36 SF/Yr

      Storefront in Bustling Commercial District

      Storefront in Palatine's commercial district with modern design.
      1724-A N Rand Road, Palatine, IL 60067
      View Details
    • Contact for pricing

      Retail Space in Palatine, IL

      Retail leasing opportunity in a high-traffic Palatine location.
      201-285 W Dundee Road, Palatine, IL 60074
      View Details
    • $12 SF/Yr
      44,120 SF

      Palatine Location Near I-90

      Specialty property for lease in Palatine, Illinois, near I-90.
      707-717 S. Vermont St, Palatine, IL 60067
      View Details
    • $11 SF/Yr
      7,817 SF

      Functional Warehouse Space Available

      Warehouse space featuring functional layouts and immediate occupancy.
      509 S Vermont St, Palatine, IL
      View Details
    • $19 SF/Yr

      Office Space Near I-290

      Office space with convenient access to I-290 and Route 53.
      1530 East Dundee Road, Palatine, IL, 60074
      View Details

    FAQs

    What type of property is this?
    Flex space - Flexible industrial and warehouse space for lease in Palatine, Illinois.
    Where is this flex space located?
    The property is located at 305 N Eric Drive Palatine, IL.
    What are key features of this property?
    This property features: Flexible industrial/warehouse space ranging from 1,200 to 14,200 SF.; Drive‑in door access suitable for warehouse and contractor operations.; Fenced outdoor yard space for storage.
    (847) 361-3420
    We can help!
    Listing Contact
    Christopher Demas
    Real Estate License ID: 471019127
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    305 N Eric Drive, Palatine, IL 60067
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!