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    3471 Union Dr Olney, IL 62450

    For Sale
    $949,900

    Spacious Warehouse & Office Space - 10 Acres

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    313
    This exceptional commercial property in Olney, Illinois, presents a significant investment opportunity. Situated on over 10.03 acres of fenced land, the property boasts a substantial 99,000 square foot steel-frame building, offering a versatile blend of warehouse and office space. The expansive warehouse area features impressive ceiling heights ranging from 25 to 30 feet, providing ample vertical storage capacity. Efficient operations are facilitated by the inclusion of six dock doors, ensuring seamless loading and unloading. Maintaining a comfortable interior environment year-round is made easy with the installed hanging heaters. Ample parking is available on-site, accommodating both employees and visitors. The property's substantial size and versatile layout make it ideal for a wide range of commercial uses, from distribution and logistics to manufacturing and storage. The combination of generous acreage, substantial building size, and practical features makes this property a rare find in the Olney market. Its strategic location offers excellent accessibility and visibility, further enhancing its appeal to discerning investors and businesses seeking a prime location for their operations. This property is ready for immediate occupancy and presents a unique opportunity to acquire a significant commercial asset in a thriving community. The 10+ acres of fenced land provide ample room for expansion or future development.

    Property Features for 3471 Union Dr

    General Information

    Property type
    Other commercial real estate
    Lot Size
    436,907 SF

    Building Details

    Year Built
    1993
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Building Supply Wholesale Shop Auto Repair Shop Auto Parts Store Department Store Discount Store Storage Facility Plumbing Service Bike Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Olney
    County
    Richland
    State
    Illinois
    Longitude
    -88.07881
    Latitude
    38.6968

    Nearby Comparable

    • $949,900
      99,000 SF

      99,000 SF Warehouse/Office Building

      99,000 SF warehouse and office space on 10+ acres.
      3471 N Union Dr, Olney, IL 62450
      View Details
    • $345,000
      2,375 SF

      Olney Industrial Property - $345K

      Flex/Warehouse space, 5.5 acres, great potential.
      600 Camp Ave, Olney, IL 62450
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    • $799,000
      11,700 SF

      Olney, IL Commercial Office Building

      Executive & Creative Office Space, 11,700 SF
      4295 Holly Rd, Olney, IL 62450
      View Details

    Nearby Similar for Sale

    • $949,900
      99,000 SF

      99,000 SF Warehouse/Office Building

      99,000 SF warehouse and office space on 10+ acres.
      3471 N Union Dr, Olney, IL 62450
      View Details
    • $345,000
      2,375 SF

      Olney Industrial Property - $345K

      Flex/Warehouse space, 5.5 acres, great potential.
      600 Camp Ave, Olney, IL 62450
      View Details
    • $799,000
      11,700 SF

      Olney, IL Commercial Office Building

      Executive & Creative Office Space, 11,700 SF
      4295 Holly Rd, Olney, IL 62450
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Spacious Warehouse & Office Space - 10 Acres
    Where is this commercial real estate located?
    The property is located at 3471 Union Dr Olney, IL.
    What is the asking price?
    The asking price for this property is $949,900.
    (812) 882-4444
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    3471 Union Dr Olney, IL 62450
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    Realmo Value Estimation

    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.

    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.

    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
    3471 Union Dr Olney, IL 62450
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