Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Industrial Building with Loading Docks Title is generated by Realmo AI

    115-119 Joey Drive, Elk Grove Village, IL 60007

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,350,000

    Two-unit industrial building with convenient loading and established location.

    Type:Industrial
    Property size:
    12,800 SF
    Price / SF:
    $105/SF
    Added:
    Nov 25, 2025
    Days on Market:
    175
    Last Refresh:
    Apr 5 at 8:19 pm

    Property Features for 115-119 Joey Drive

    General Information

    Standard status
    Active
    Size
    12,800 SF
    Property subtype
    Industrial

    We can help!

    Listing Contact
    Candace Scurto

    Listing agent Candace Scurto

    Listing office

    Listing date Nov 25, 2025

    Source Browncommercialgroup

    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 Candace Scurto

    HighLights

    • Tenant in place through March 2026 providing immediate income.
    • 12,800 sf building with great loading.
    • Established industrial park location with easy access to Rt. 72, Rt. 83, and I‑90.
    • Heavy power supply.
    • Half of the building is air conditioned.
    • Convenient O'Hare market area.

    Overview

    This 12,800-square-foot industrial building features two units and convenient loading capabilities. The property benefits from heavy power and partial air conditioning, along with some newer mechanical systems. Located in an established industrial park, the property provides easy access to major transportation routes, including Route 72, Route 83, and I-90, offering convenient access to the O'Hare market area. One unit is currently occupied by a tenant with a lease extending through March 2026. This property presents an opportunity for both owner-occupiers and investors.
    Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Hair Salon Big Box & Wholesale Store Auto Repair Shop Nail Salon

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

    Similar Places Nearby

    • Yard space — Arlington Heights, IL 60005
    • Lineage — 600 E Brook Dr, Arlington Heights, IL 60005

    Location Insight

    • Map
    • Local Demand
    City
    Elk Grove Village
    County
    Cook
    State
    Illinois
    Longitude
    -87.9704
    Latitude
    42.0287

    Nearby Similar for Sale

    • $640,000
      4,300 SF

      Elk Grove Industrial Condo

      End-unit industrial condo in Elk Grove Village Business Park.
      700 BONNIE Lane, Elk Grove Village, IL 60007
      View Details
    • Contact for pricing
      13,888 SF

      Freestanding Industrial Building For Sale

      Well-maintained industrial building with office space and functional layout.
      1651 Lively Blvd, Elk Grove Village, IL 60007
      View Details
    • $27
      52,126 SF

      Medical Office Center Near Hospital

      Single-story medical office center adjacent to Ascension Alexian Brothers Medical Center.
      901 Biesterfield Road, Elk Grove Village, IL 60007
      View Details
    • $5,135,000

      New Retail Outlot For Sale

      Newly developed, fully leased retail outlot in Elk Grove Village.
      1420-1428 Busse Road | Elk Grove Village, IL 60007
      View Details
    • $832,000
      8,000 SF

      Industrial Building with Office Space

      Free-standing building with warehouse and office space for sale.
      221 Lively Blvd, Elk Grove Village, IL 60007
      View Details
    • Contact for pricing
      230,766 SF

      Freestanding Facility Near O'Hare Airport

      230,766 SF facility with heavy office and parking.
      2400 Arthur Avenue | Elk Grove Village, IL 60007
      View Details
    • Contact for pricing
      16,653 SF

      Elk Grove Village Industrial Property

      High-image industrial property with upgraded offices and air-conditioned warehouse.
      1420 Chase Ave, Elk Grove Village, IL 60007
      View Details
    • Contact for pricing
      10,000 SF

      Elk Grove Industrial Building

      10,000 SF industrial building with docks and drive-ins.
      1535-1555 Brummel Avenue, Elk Grove Village, IL 60007
      View Details
    • $3,100,000

      Elk Grove Village Commercial Property

      Commercial property for sale in Elk Grove Village, Illinois.
      99999 Confidential Avenue, Elk Grove Village, IL 60007
      View Details
    • $1,385,000
      12,800 SF

      Elk Grove Village Warehouse Facility

      12,800 SF building suitable for single or multi-tenant use.
      119 Joey Dr, Elk Grove Village, IL
      View Details
    • $17
      84,185 SF

      Industrial Property with Active Rail

      Industrial property featuring an active rail line and 20-ton crane.
      2550 Arthur Ave, Elk Grove Village, IL 60007
      View Details
    • Contact for pricing
      37,811 SF

      Elk Grove Village Warehouse Facility

      Well-maintained industrial warehouse in Elk Grove Village for sale.
      1901 Greenleaf Ave, Elk Grove Village, IL 60007
      View Details

    FAQs

    What type of property is this?
    Warehouse - Two-unit industrial building with convenient loading and established location.
    Where is this warehouse located?
    The property is located at 115-119 Joey Drive Elk Grove Village, IL.
    What is the asking price?
    The asking price for this property is $1,350,000.
    What are key features of this property?
    This property features: Tenant in place through March 2026 providing immediate income.; 12,800 sf building with great loading.; Established industrial park location with easy access to Rt. 72, Rt. 83, and I‑90.
    (847) 758-9200
    We can help!
    Listing Contact
    Candace Scurto
    Learn More
    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
    115-119 Joey Drive, Elk Grove Village, IL 60007
    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!