Industrial Development Building with Rail
For Sale
Contact for pricing
115 S Ridge Rd, Minooka, IL 60447
Fenced industrial property with an 11,683 sf metal building, office space, and two drive-in doors.
Property Size11,683 SF
Price / SF$325.26
Days on Market67
Property Features for 115 S Ridge Rd
General Information
Standard status
Active
Size
11,683 SF
Total Parking Spaces
30
Property subtype
Industrial, Land
Zoning
M-2
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
2
Building Details
Year Built
1979
Buildings
1
Stories
1
Units
1
Listing Agency:
Coldwell Banker Commercial Real Estate Group
(815) 553-2406
Listed By:
Leah Erickson · License #475.204597
Source:
Crexi
Added: Jun 6
Changed: Aug 8
Last Checked: Aug 10 at 4:13AM
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 Coldwell Banker Commercial Real Estate Group
Investment Insights
Based on property information with market context.
The property includes a large 11,683 sf metal building with 18’ clear height, a storage mezzanine, and a ground-floor 1,800 sf office space built in 1979. The building also has two 12x12’ drive-in doors for practical loading access, and a second-floor 2BR/2BA apartment configuration. The entire parcel is fenced, providing a secured perimeter for operations or future development.
Located at 115 S. Ridge Rd in Minooka, IL, the site is zoned M-2. The property is described as having easy access to major transportation routes, including nearby I-80, supporting efficient movement for industrial users. A rail line runs along the western border of the property, and the remarks indicate rail access potential.
This offering is well suited for industrial owners and developers looking for an M-2 site with an operating building component. Tenants or buyers may find the combination of warehouse clear height, drive-in loading, on-site office space, and an apartment useful for businesses that require administrative space and occasional on-site living arrangements. The fenced layout and rail access potential can also support a range of industrial development scenarios within the stated industrial zoning framework.
Located at 115 S. Ridge Rd in Minooka, IL, the site is zoned M-2. The property is described as having easy access to major transportation routes, including nearby I-80, supporting efficient movement for industrial users. A rail line runs along the western border of the property, and the remarks indicate rail access potential.
This offering is well suited for industrial owners and developers looking for an M-2 site with an operating building component. Tenants or buyers may find the combination of warehouse clear height, drive-in loading, on-site office space, and an apartment useful for businesses that require administrative space and occasional on-site living arrangements. The fenced layout and rail access potential can also support a range of industrial development scenarios within the stated industrial zoning framework.
Key Highlights
- 11,683 SF metal industrial building with 18' clear height, built in 1979
- Two 12x12' drive‑in doors for loading and easy truck access
- 2,000 SF office space on the ground floor plus a 2nd‑floor 2BR/2BA apartment
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
$161,089
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
4.24%
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%
$3,221,780
$3.2M
Cap Rate 7%
$2,301,271
$2.3M
Cap Rate 9%
$1,789,878
$1.8M
Market Conditions
NOI Build-Up for 11,683 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
$286.0K $24.48/SF
− Vacancy
−$71.2K −$6.10/SF
EGI
$214.8K $18.38/SF
− OpEx
−$53.7K −$4.60/SF
NOI
$161.1K $13.79/SF
Area
Grundy County, IL
Vacancy
24.90%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
25.00%
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%
$3,221,780
Cap Rate 7%
$2,301,271
Cap Rate 9%
$1,789,878
Alternative Uses
Best Use
Office B
$2.30M
$2.01M – $2.68M
NOI $161,089 @ 7.0% cap · market cap 4.24%
Second Best
Flex RnD
$1.76M
$1.54M – $2.05M
NOI $123,022 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$4.03M
$3.53M – $4.71M
NOI $282,353 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
2
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
465
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60447, IL
15,750
Population
5,429
Households
2.9
Avg Household Size
35
Median Age
26%
College-Educated
95%
High-School Grad
67.6 sq mi
ZIP Area
233
Density / Sq Mi
$115,039
Median Household Income
$54,966
Median Earnings
$1,525
Median Rent
$295,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Fenced industrial property with an 11,683 sf metal building, office space, and two drive-in doors.
Where is this flex space located?
The property is located at 115 S Ridge Rd Minooka, IL.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: 11,683 SF metal industrial building with 18' clear height, built in 1979; Two 12x12' drive‑in doors for loading and easy truck access; 2,000 SF office space on the ground floor plus a 2nd‑floor 2BR/2BA apartment
