Remodeled Flex Industrial
For Sale
$640,000
700 BONNIE Lane, Elk Grove Village, IL 60007
Commercial Sale, Elk Grove Village, IL
Property Size4,300 SF
Lot Size0.10 Acres
Price / SF$148.84
Days on Market328
Property Features for 700 BONNIE Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
INDUS
Directions
North on Howard to Landmeir from Rt 83 to Bonnie.
Subdivision
Elk Grove Village
Standard status
Active
APN
08271021341001
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
20243
Utilities
Utilities
Water Available
Cooling system
Central Air
Amenities
kitchenette
private restroom
Building Details
Year built
1973
Floors in Building
1
Number of units
1
Flooring type
Tile, Concrete
Building materials
Concrete, Block, Brick
Roof type
Rubber, Metal
Listing Agency:
Troy Realty Ltd
(773) 792-3000
Listed By:
Andrzej Olszowka · License #475160900
(708) 715-2423
Added: Oct 12, 2025
Changed: Aug 20
Last Checked: Sep 4 at 4:06PM
MLS# 12492743
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 end-unit flex industrial condominium provides approximately 4,300 SF of commercial space, including 1,000 SF of updated office area with a kitchenette and private restroom. The warehouse offers 16' clear height, painted walls, concrete construction, 600 AMP power, and a wet sprinkler system. Front and rear parking support the property’s operational layout, while central air, tile, and concrete flooring are among the existing improvements. The building was remodeled in 2024 with new finishes throughout.
Located in Elk Grove Village Business Park, the property offers access to O'Hare International Airport and expressways including I-90, I-290, and Rt-83. The space is available for sale or lease and is suited to light manufacturing, storage, or service use as supported by the existing configuration.
Located in Elk Grove Village Business Park, the property offers access to O'Hare International Airport and expressways including I-90, I-290, and Rt-83. The space is available for sale or lease and is suited to light manufacturing, storage, or service use as supported by the existing configuration.
Key Highlights
- Approximately 4,300 SF, including 1,000 SF of office space
- 2024 remodel with new finishes throughout
- 16' clear warehouse height with 600 AMP power
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
$45,279
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
7.07%
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%
$905,580
$905.6K
Cap Rate 7%
$646,843
$646.8K
Cap Rate 9%
$503,100
$503.1K
Market Conditions
NOI Build-Up for 4,300 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
$77.4K $18.00/SF
− Vacancy
−$7.7K −$1.80/SF
EGI
$69.7K $16.20/SF
− OpEx
−$24.4K −$5.67/SF
NOI
$45.3K $10.53/SF
Area
Cook County, IL
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$905,580
Cap Rate 7%
$646,843
Cap Rate 9%
$503,100
Alternative Uses
Best Use
Flex RnD
$646.8K
$566.0K – $754.7K
NOI $45,279 @ 7.0% cap · market cap 7.07%
Second Best
Warehouse
$321.1K
$281.0K – $374.6K
NOI $22,476 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,922 @ 7.0% cap · market cap 16.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,119
Businesses Nearby
Under-served
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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Similar Off Market Nearby
- Pierogi Rig — 410 Bonnie Ln, Elk Grove Village, IL 60007
Frequently Asked Questions
What type of property is this?
Flex space - End-unit commercial condominium with updated offices, warehouse functionality, and access to regional transportation routes.
Where is this flex space located?
The property is located at 700 BONNIE Lane Elk Grove Village, IL.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: Approximately 4,300 SF, including 1,000 SF of office space; 2024 remodel with new finishes throughout; 16' clear warehouse height with 600 AMP power
