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    1033 Noel Ave Wheeling, IL 60090

    Sponsored
    For Sale
    $5,325,000

    Spacious Wheeling warehouse, ideal for multi-tenant or single user.

    Property size:
    96,959 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    340
    This exceptional 96,959 square foot industrial building in Wheeling, Illinois, presents a compelling investment opportunity. Constructed in 1962 and 1969, this masonry structure offers a blend of warehouse and office space. The property boasts 6,500 square feet of front office space along Noel Avenue, complemented by an additional 3,424 square feet of two-story office space in the northeast section. The warehouse space, totaling approximately 80,459 square feet, is divided into six distinct, internally connected units ranging from 3,900 to 35,708 square feet, each accessible via roll-up doors. Key features include 14-foot ceilings, five truck docks, one drive-in door, and floor drains. The 5.12-acre lot provides ample outside parking. Recent improvements include a new roof and parking lot (within the last two years). The building is zoned I-2 and benefits from heavy power. Currently occupied by Precision Paper Tube Company, the property offers flexibility. The existing tenant may lease back approximately half the building or vacate entirely, depending on the buyer's preference. The property's I-2 zoning and size make it suitable for a variety of industrial uses. Potential buyers may also explore the 6B program to potentially reduce real estate tax burdens. This property represents a significant opportunity for investors seeking a substantial industrial asset in a prime Wheeling location.

    Property Features for 1033 Noel Ave

    General Information

    Property type
    Investment properties
    Square Feet
    96,959 SF
    Lot Size
    223,027 SF

    Building Details

    Year Built
    1965
    Property Profile Location Intelligence

    Current Use by Public Records

    Precision Paper Tube ... Store International Electro Magnetic Electronic Parts Supplier Noel Transportation Corporation Trucking Company Resinite Corporation Electronic Parts Supplier International Electro Mag Manufacturer

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Building Supply Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Wheeling
    County
    Cook
    State
    Illinois
    Longitude
    -87.92342
    Latitude
    42.12212

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    FAQs

    What type of property is this?
    Investment property - Spacious Wheeling warehouse, ideal for multi-tenant or single user.
    Where is this investment property located?
    The property is located at 1033 Noel Ave Wheeling, IL.
    What is the asking price?
    The asking price for this property is $5,325,000.
    (847) 310-4295
    Request Owner's contact information
    1033 Noel Ave Wheeling, IL 60090
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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
    1033 Noel Ave Wheeling, IL 60090
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