Multi-Tenant Industrial
New
For Sale
$2,250,000
1118 Morse Avenue, Schaumburg, IL 60193
The building can be configured as as many as three units and has parking behind the structure.
Property Size20,620 SF
Lot Size1.08 Acres
Price / SF$109.12
Days on Market4
Property Features for 1118 Morse Avenue
General Information
Standard status
Active
Size
20,620 SF
Lot size
1.08 Acres
Property subtype
Commercial
Warehouse & Industrial
Clear Height
14 ft
Dock-High Doors
2
Drive-In Doors
3
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$99,761
Amenities
Central air
Central Air Cooling
Building Details
Year Built
1988
Year Renovated
2024
Buildings
1
Building Size
20,620 SF
Tenancy
Multi
Listing Agency:
ROSE REALTY LLC
(773) 490-1749
Listed By:
YASAR SENLIK
Source:
Corcoran
Added: Oct 17
Changed: Oct 19
Last Checked: Oct 19 at 2:32PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ROSE REALTY LLC
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Investment Insights
Based on property information with market context.
This 20,620-square-foot industrial building dates to 1988 and occupies 1.08 acres in Spectrum Industrial Park. Its current configuration includes two spaces: a 10,000-square-foot owner-used area and a 10,620-square-foot leased unit, with the lease running through April 2027. The property has three drive-in doors, two interior loading docks, 14 feet of clear height, and rear parking. The roof was replaced in 2024, and the building is described as being in good condition.
The property is in the southern part of Schaumburg, along the Elgin O’Hare Expressway (IL-390), in Cook County. The layout can be adapted to create up to three separate units.
The property is in the southern part of Schaumburg, along the Elgin O’Hare Expressway (IL-390), in Cook County. The layout can be adapted to create up to three separate units.
Key Highlights
- 20,620 square feet on 1.08 acres
- Two current spaces: 10,000 square feet owner‑used and 10,620 square feet leased through April 2027
- Three drive‑in doors and two interior loading docks
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$107,783
Cap Rate
4.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,155,660
$2.2M
Cap Rate 7%
$1,539,757
$1.5M
Cap Rate 9%
$1,197,589
$1.2M
Market Conditions
NOI Build-Up for 20,620 SF
Gross rent
$133.6K $6.48/SF
− Vacancy
−$6.8K −$0.33/SF
EGI
$126.8K $6.15/SF
− OpEx
−$19.0K −$0.92/SF
NOI
$107.8K $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 Rate 5%
$2,155,660
Cap Rate 7%
$1,539,757
Cap Rate 9%
$1,197,589
Alternative Uses
Best Use
Warehouse
$1.54M
$1.35M – $1.80M
NOI $107,783 @ 7.0% cap · market cap 4.79%
Second Best
Industrial
$1.27M
$1.11M – $1.48M
NOI $88,762 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$7.12M
$6.23M – $8.31M
NOI $498,340 @ 7.0% cap · market cap 22.15%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
14 ft
Clear height
2
Dock-high doors
3
Drive-in doors
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
702
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60193, IL
40,805
Population
16,478
Households
2.5
Avg Household Size
42
Median Age
44%
College-Educated
96%
High-School Grad
8.8 sq mi
ZIP Area
4,637
Density / Sq Mi
$92,284
Median Household Income
$57,707
Median Earnings
$1,699
Median Rent
$317,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- Public Storage — 1200 W Irving Park Rd, Schaumburg, IL 60193
- iStorage — 1031 Albion Ave, Schaumburg, IL 60193
- JC Storage — 650 Morse Ave, Schaumburg, IL 60193
- Public Storage — 777 W Wise Rd, Schaumburg, IL 60193
- Kent Kartage Inc — 1129 Beachcomber Dr, Schaumburg, IL 60193
Frequently Asked Questions
What type of property is this?
Warehouse - The building can be configured as as many as three units and has parking behind the structure.
Where is this warehouse located?
The property is located at 1118 Morse Avenue Schaumburg, IL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 20,620 square feet on 1.08 acres; Two current spaces: 10,000 square feet owner‑used and 10,620 square feet leased through April 2027; Three drive‑in doors and two interior loading docks
