Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1840 Industrial Dr, Unit 220 Libertyville, IL 60048

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $13 SF/Yr

    2,671 SF flex space with office in Lake County.

    Lot size:
    4.19 Acres

    Property Features for 1840 Industrial Dr

    General Information

    Standard status
    Active
    Lot size
    4.19 Acres

    Building Details

    Year built
    1989

    We can help!

    Listing Contact
    Daniel Wagener
    Source: Corcoran

    Listing Agent: Daniel Wagener

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Industrial Unit with Office Space

    This 2,671 square foot unit includes 450 square feet of office space. Constructed in 1989 with functionality in mind, the property is located in Lake County, just north of Peterson Road on Industrial Drive. The building provides access to four common truck-level docks and grade-level loading. High-speed internet access is available throughout the building, and mail and overnight delivery drop boxes are located on site. The property is suitable for flex space, industrial, warehouse, and office use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Libertyville
    County
    Lake
    State
    Illinois
    Longitude
    -88.006883
    Latitude
    42.3085415

    Nearby Similar for Lease

    • Contact for pricing
      41,382 SF

      Libertyville Office Building For Rent

      Professional office building in high-traffic area with available spaces.
      1113 S Milwaukee Ave, Libertyville, IL 60048
      View Details
    • Contact for pricing

      Professional Office Space Available

      High-visibility Libertyville office space with lease incentives.
      1113 S Milwaukee Ave, Libertyville, IL 60048
      View Details
    • Contact for pricing

      Luxury Office Sublet in Libertyville

      Contemporary office space available for sublet in Libertyville, Illinois.
      915 Milwaukee Ave, Libertyville, IL 60048
      View Details
    • Contact for pricing

      Professional Office Space in Libertyville

      Turn-key office space in downtown Libertyville, suitable for various uses.
      303 E Park Ave, Libertyville, IL 60048
      View Details
    • $12 SF/Yr

      Professional Office Space Available

      High-visibility office building with ample parking in Libertyville, Illinois.
      1113 S Milwaukee Ave, Libertyville, IL 60048
      View Details
    • Contact for pricing
      47,916 SF

      Industrial Space in Libertyville

      Industrial space in the heart of Lake County, close to downtown.
      325 4Th St, Libertyville, IL 60048
      View Details
    • Contact for pricing
      11,604 SF

      Retail Space in Win-Mil Point

      Retail spaces for lease in Libertyville, Illinois with high visibility.
      1015-1047 North Milwaukee Ave, Libertyville, IL 60048
      View Details
    • $16 SF/Yr
      22,800 SF

      Libertyville Office Complex

      Medical & Creative Office Suites Available
      1232 American Way, Libertyville, IL 60048
      View Details
    • $5 SF/Yr
      6,249 SF

      Libertyville Office Space for Lease

      Flexible office solutions in prime location.
      611 Milwaukee Ave, Libertyville, IL 60048
      View Details
    • $7 SF/Yr
      30,333 SF

      Libertyville Industrial Space Available

      30,333 SF industrial space available for lease 11/1/2025.
      2600 Commerce Dr, Libertyville, IL 60048
      View Details
    • Contact for pricing
      11,604 SF

      Libertyville Retail Space Available

      Prime Libertyville location, multiple spaces.
      1015-1047 Milwaukee Ave, Libertyville, IL 60048
      View Details
    • Contact for pricing
      151,840 SF

      Red Top Plaza: Libertyville Office Suites

      Grocery-anchored Libertyville office space available.
      1300-1440 Milwaukee Ave, Libertyville, IL 60048
      View Details

    FAQs

    What type of property is this?
    Flex space - 2,671 SF flex space with office in Lake County.
    Where is this flex space located?
    The property is located at 1840 Industrial Dr, Unit 220 Libertyville, IL.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: - 2,671 sq ft unit with an additional 450 sq ft of office space.; - Conveniently located just north of Peterson Road on Industrial Drive in Lake County.; - Access to 4 common truck level docks and grade level loading.
    (847) 816-2621
    Request Owner's contact information
    1840 Industrial Dr, Unit 220 Libertyville, IL 60048
    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.
    1840 Industrial Dr, Unit 220
    Libertyville, IL 60048
    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
    1840 Industrial Dr, Unit 220 Libertyville, IL 60048
    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

    We can help!
    Listing Contact
    Daniel Wagener
    (847) 816-2621
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.