Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Industrial Flex Space Available Title is generated by Realmo AI

    1840 Industrial Drive #220, Libertyville, IL 60048

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $13 SF/Yr

    2,671 sq ft flex space with office in Libertyville.

    Added:
    Nov 12, 2024
    Days on Market:
    555
    Last Refresh:
    Mar 16 at 9:08 am

    Property Features for 1840 Industrial Drive #220

    General Information

    Standard status
    Active

    Building Details

    Year Built
    1989

    We can help!

    Listing Contact
    DANIEL WAGENER

    Listing agent DANIEL WAGENER License #471005683

    Listing office WAGENER EQUITIES COMMERCIAL REAL ESTATE SERVICES,

    Listing date Nov 12, 2024

    Source Corcoran

    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 WAGENER EQUITIES COMMERCIAL REAL ESTATE SERVICES,

    HighLights

    • 2,671 sq ft of space with an additional 450 sq ft of office space.
    • Convenient location just north of Peterson Road on Industrial Drive in Lake County.
    • Access to 4 common truck level docks and grade level loading.
    • Wired for high speed internet access.
    • Mail and overnight delivery drop boxes on site.
    • Built in 1989.

    Overview

    This flex space unit offers 2,671 square feet, including 450 square feet of office space. Constructed in 1989, the property is located in Lake County, specifically just north of Peterson Road on Industrial Drive. The building provides access to 4 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. This property is suitable for industrial, warehouse, and office use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store 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
      1,400 SF

      Libertyville Professional Office Suite

      Upscale 1,400 SF office suite in Libertyville, Illinois.
      301 Peterson Road, Libertyville, IL 60048
      View Details
    • Contact for pricing
      7,139 SF

      Flex Warehouse with Office Space

      High-quality flex warehouse with office space in Libertyville, IL.
      1881 Industrial Drive, Libertyville, IL 60048
      View Details
    • Contact for pricing
      2,400 SF

      Prime Libertyville Retail Space Available

      2400 sq ft retail space in the heart of Libertyville.
      537 N Milwaukee Avenue, Libertyville, IL 60048
      View Details
    • Sponsored
      Contact for pricing

      IL, Libertyville - S Milwaukee

      611 Milwaukee Ave, Unit 1ST, Libertyville, IL 60048
      View Details
    • Contact for pricing

      Automotive Repair Facility in Libertyville

      Turn-key automotive repair facility on heavily traveled State Road.
      530 E PARK Avenue, Libertyville, IL 60048
      View Details
    • $22 SF/Yr
      2,450-2,450 SF

      287 Peterson Rd, Libertyville, IL - 60048 - Lease

      Updated property suited for medical, office, or retail use.
      287 Peterson Rd, Libertyville, IL 60048
      View Details
    • Contact for pricing

      Retail/Office Space in Libertyville

      Storefront retail or office/medical space on busy Milwaukee Ave.
      1200 N Milwaukee Avenue, Libertyville, IL 60048
      View Details
    • $65 SF/Yr
      90 SF

      Downtown Libertyville Private Office Space

      Private office in co-working space, downtown Libertyville location.
      200 E Church Street, Libertyville, IL 60048
      View Details
    • $24 SF/Yr
      2,299 SF

      Libertyville Office Spaces Available

      Well-maintained office complex with various spaces for rent.
      1232 American Way #1280, Libertyville, IL 60048
      View Details
    • $24 SF/Yr
      2,299 SF

      Libertyville Office Complex For Rent

      Well-maintained office complex with various spaces available for rent.
      1232 American Way #1264, Libertyville, IL 60048
      View Details
    • $16 SF/Yr
      2,299 SF

      Libertyville Office Complex For Rent

      Well-maintained office complex with loft, executive, and medical spaces.
      1232 American Way #1266, Libertyville, IL 60048
      View Details
    • Contact for pricing

      IL, Libertyville - Winchester Rd

      1870 Winchester Rd, Libertyville, IL 60048
      View Details

    FAQs

    What type of property is this?
    Flex space - 2,671 sq ft flex space with office in Libertyville.
    Where is this flex space located?
    The property is located at 1840 Industrial Drive #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 of space with an additional 450 sq ft of office space.; Convenient location 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
    We can help!
    Listing Contact
    DANIEL WAGENER
    Real Estate License ID: 471005683
    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
    1840 Industrial Drive #220, Libertyville, IL 60048
    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!