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

    515 Busse Rd, Elk Grove Village, IL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    40,080 SF industrial property near O’Hare and major highways.

    Type:INDUSTRIAL
    Property size:
    40,080 SF
    Lot size:
    24.42 Acres
    Added:
    Jun 25, 2024
    Days on Market:
    696
    Last Refresh:
    Apr 5 at 9:51 pm

    Property Features for 515 Busse Rd

    General Information

    Standard status
    Active
    Size
    40,080 SF
    Lot size
    24.42 Acres
    Property subtype
    INDUSTRIAL

    Spaces For Lease

    at 515 Busse Rd Contact us

    We can help!

    Listing Contact
    Terry Herlihy

    Listing agent Terry Herlihy

    Listing office NAI Hiffman | Oakbrook Terrace

    Listing date Jun 25, 2024

    Source Moodyscre

    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 NAI Hiffman | Oakbrook Terrace

    HighLights

    • Prime location near restaurants, retailers, O’Hare, and major highways.
    • 7,000 SF office area (can be downsized).
    • Features 2 interior docks and 1 drive‑in door.
    • 1800A @ 480V power.
    • High image property with institutional ownership and management.
    • On‑site management office.

    Overview

    This industrial property in Elk Grove Village offers 40,080 square feet of space. The property includes 7,000 square feet of office area that can be downsized. It features two interior docks and one drive-in door. Power is supplied by 1800A @ 480V. The property benefits from institutional ownership and on-site management. Its location provides convenient access to restaurants, retailers, O’Hare International Airport, and major highways.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Closet Factory General Contractor Transor Filter USA Industrial Manufacturer

    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

    • Iron Mountain — 500 Frontier Way, Bensenville, IL 60106
    • Boyer-Rosene Moving & Storage Inc — 1121 n ellis st, bensenville, il 60106
    • KCC — Bensenville, IL 60106
    • TWE, Inc. — 1401 Mark St, Elk Grove Village, IL 60007
    • Hollander Logistics Warehouse — 261 Richert Rd, Wood Dale, IL 60191

    Location Insight

    • Map
    • Local Demand
    City
    Elk Grove Village
    County
    Cook
    State
    Illinois
    Longitude
    -87.9587
    Latitude
    42.0186

    Nearby Similar for Lease

    • Contact for pricing
      10,000 SF

      Elk Grove Village Industrial Building

      10,000 SF industrial building with warehouse and office space.
      1340 Louis Avenue, Elk Grove Village, IL 60007
      View Details
    • Contact for pricing
      5,001 SF

      Renovated Office Suite in Elk Grove

      Updated office suite in a thriving commercial area for lease.
      1080 Nerge Road, Elk Grove Village, IL 60007
      View Details
    • Contact for pricing

      Elk Grove Village Flex Space

      Meticulously maintained flex space ideal for industrial and office operations.
      1425 Louis Avenue, Elk Grove Village, IL 60007
      View Details
    • $875/Mo
      26,000 SF

      Office Building Suites For Rent

      Office suites available with utilities and taxes included.
      225 N. Arlington Heights Road, Elk Grove Village , IL 60007
      View Details
    • $38 SF/Yr
      2,765 SF

      Modern Commercial Space For Lease

      New mixed-use development, ideal for retail, office, medical office.
      111 E Higgins Rd, Elk Grove Village, IL
      View Details
    • $14 SF/Yr
      15,300 SF

      Renovated Flex Space in Elk Grove

      Newly renovated 2,325 SF flex space near major transportation routes.
      1427-1451 Tonne Road, Elk Grove Village, IL 60007
      View Details
    • $11 SF/Yr
      6,503 SF

      Elk Grove Village Flex Space

      Two-unit building with offices and loading in O'Hare market.
      875 Lively Blvd.,, Elk Grove Village, IL 60007
      View Details
    • $19 SF/Yr
      6,500 SF

      BMO Elk Grove Office Space

      Premium, fully furnished office spaces in a dynamic tech hub.
      450 Higgins Rd, Elk Grove Village, IL, 60007-1406
      View Details
    • $14 SF/Yr
      2,325 SF

      Elk Grove Village Warehouse Space

      Recently renovated warehouse with office space available for lease.
      1427 Tonne Rd, Elk Grove Village, IL
      View Details
    • $8 SF/Yr
      29,580 SF

      Industrial Units in O'Hare Area

      Industrial units for lease in convenient O'Hare market area.
      400-490 Bonnie Lane, Elk Grove Village, IL 60007
      View Details
    • $41,280 SF/Yr
      41,280 SF

      Elk Grove Village Warehouse Space

      41,280 SF warehouse with office space and ample parking.
      800 Dierking Terrace, Elk Grove Village, IL 60007
      View Details
    • $14 SF/Yr
      4,369 SF

      Elk Grove Village Warehouse Space

      Available warehouse space in Elk Grove Village with I-90 access.
      1001 Nicholas Blvd, Elk Grove Village, IL
      View Details

    FAQs

    What type of property is this?
    Warehouse - 40,080 SF industrial property near O’Hare and major highways.
    Where is this warehouse located?
    The property is located at 515 Busse Rd Elk Grove Village, IL.
    What are key features of this property?
    This property features: Prime location near restaurants, retailers, O’Hare, and major highways.; 7,000 SF office area (can be downsized).; Features 2 interior docks and 1 drive‑in door.
    (630) 932-1234 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Terry Herlihy
    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
    515 Busse Rd, Elk Grove Village, IL
    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!