Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Bolingbrook Retail/Office Space Available Title is generated by Realmo AI

    116 N Bolingbrook Drive, Bolingbrook, IL 60440

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $25 SF/Yr

    Street-facing space ideal for professional or retail uses.

    Type:Commercial/Industrial
    Added:
    Jul 30, 2024
    Days on Market:
    662
    Last Refresh:
    May 19 at 8:35 pm

    Property Features for 116 N Bolingbrook Drive

    General Information

    Standard status
    Active
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1978

    We can help!

    Listing Contact
    Carlo Rossi

    Listing agent Carlo Rossi License #471011314

    Listing office Rossi Real Estate Corp.

    Listing date Jul 30, 2024

    Source Exitrealty

    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 Rossi Real Estate Corp.

    HighLights

    • Grocery‑anchored center ensures consistent traffic flow.
    • Street‑facing location provides high visibility.
    • Located in Bolingbrook, the 2nd largest village in Illinois.
    • High traffic volume: 35,600 vehicles per day on Bolingbrook Drive.
    • Ideal for professional or retail uses.
    • Diverse tenant mix and local center management.

    Overview

    This in-line, street-facing commercial space is located in Briar Square in Bolingbrook, Illinois, at the northeast corner of Bolingbrook Drive (Route 53) and Briarcliff Road, near I-55. The property is situated in a grocery-anchored center that attracts traffic from major roadways and Will and DuPage counties. The location is suitable for both new and established businesses, with a diverse tenant mix, local center management, and proximity to neighborhoods and corporate clients. Bolingbrook is the second-largest village in Illinois, according to the 2010 Census. Bolingbrook Drive experiences a traffic volume of 35,600 vehicles per day, while Briarcliff Road sees 10,000 vehicles per day. The space includes a reception counter and is suitable for professional or retail uses.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Bolingbrook
    County
    Will
    State
    Illinois
    Longitude
    -88.0670253
    Latitude
    41.6990577

    Nearby Similar for Lease

    • Contact for pricing
      5,604 SF

      Bolingbrook Warehouse with Office Space

      Move-in ready warehouse condo with office, mezzanine, and truck dock.
      475 Quadrangle Drive, Bolingbrook, IL 60440
      View Details
    • $13 SF/Yr
      2,147 SF

      Bolingbrook Office Condo For Lease

      2,147 SF Class A office condo available for lease.
      215 Remington Blvd, Bolingbrook, IL 60440
      View Details
    • $17 SF/Yr
      21,260 SF

      Bolingbrook Shopping Center For Rent

      21,260 SF shopping center with ample parking and diverse tenants.
      317-61 N. Schmidt Road, Bolingbrook, IL 60440
      View Details
    • Contact for pricing

      Contemporary Retail Center Near Menards

      High-visibility retail center with strong traffic and convenient highway access.
      291 North Bolingbrook Drive, Bolingbrook, IL 60440
      View Details
    • $14 SF/Yr
      2,089 SF

      Bolingbrook Flex Space Available

      Flex space available in Bolingbrook with convenient highway access.
      270 Remington Boulevard, Bolingbrook, IL, 60440
      View Details
    • $25 SF/Yr

      Retail Space on Route 53

      Retail space in grocery-anchored center, ideal for various businesses.
      150 N Bolingbrook Drive, Bolingbrook, IL 60440
      View Details
    • $18 SF/Yr
      1,019 SF

      Bolingbrook Office Space For Rent

      Office space available in Bolingbrook with ample parking.
      684 W Boughton Rd, Bolingbrook, IL
      View Details
    • $27 SF/Yr

      Retail Space on Route 53

      Street-facing retail space in Bolingbrook, ideal for various businesses.
      154 N Bolingbrook Drive, Bolingbrook, IL 60440
      View Details
    • Contact for pricing
      220,620 SF

      Modern Warehouse Space For Sublease

      Class A warehouse/distribution space available for sublease in Bolingbrook.
      999 Belle Lane, Suite A, Bolingbrook, IL 60490
      View Details
    • $17 SF/Yr
      1,160 SF

      Retail Space For Lease

      Recently renovated retail spaces with street-facing units available for lease.
      317-361 N Schmidt Rd, Bolingbrook, IL
      View Details
    • Contact for pricing
      31,240 SF

      Bolingbrook Industrial Unit Available

      6,300 SF industrial unit in established Remington Lake Business Park.
      704 Veterans Parkway, Unit A, Bolingbrook, IL 60440
      View Details
    • $10 SF/Yr

      Retail Space in Bolingbrook

      Retail space with high visibility, abundant parking, and storefront windows.
      104 South Bolingbrook Drive, Bolingbrook, IL 60440
      View Details

    FAQs

    What type of property is this?
    Retail space - Street-facing space ideal for professional or retail uses.
    Where is this retail space located?
    The property is located at 116 N Bolingbrook Drive Bolingbrook, IL.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    What are key features of this property?
    This property features: Grocery‑anchored center ensures consistent traffic flow.; Street‑facing location provides high visibility.; Located in Bolingbrook, the 2nd largest village in Illinois.
    (630) 652-2904
    We can help!
    Listing Contact
    Carlo Rossi
    Real Estate License ID: 471011314
    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
    116 N Bolingbrook Drive, Bolingbrook, IL 60440
    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!