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    Mundelein Warehouse with Large Parking Title is generated by Realmo AI

    404 Washington Blvd, Mundelein, IL

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    31,600 SF warehouse with ample outdoor parking.

    Type:FLEX_R_AND_D
    Property size:
    31,600 SF
    Lot size:
    2.40 Acres
    Price / SF:
    $61/SF
    Added:
    Apr 25, 2024
    Days on Market:
    782
    Last Refresh:
    May 20 at 8:21 pm

    Property Features for 404 Washington Blvd

    General Information

    Standard status
    Active
    Size
    31,600 SF
    Lot size
    2.40 Acres
    Property subtype
    FLEX_R_AND_D

    Properties For Sale

    at 404 Washington Blvd Contact us

    We can help!

    Listing Contact
    Olivia Czyzynski
    Olivia Czyzynski

    Listing agent Jennifer Hopkins, MBA License #475146577

    Listing office SVN | Chicago - Corporate

    Listing date Apr 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 SVN | Chicago - Corporate

    HighLights

    • Very Large Outdoor Parking Area - ideal for truck or outdoor storage
    • Low Lake County Property Taxes
    • 28' Column Spacing
    • Located in 2nd largest municipality in Lake County

    Overview

    This 31,600 square foot warehouse is located in the second largest municipality in Lake County and features a very large outdoor parking area, suitable for truck or outdoor storage. The property benefits from low Lake County property taxes and has a column spacing of 28 feet. It is ideal for truck or outdoor storage.

    Local Financial Insights For Warehouse

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $204.8k $6.48
    − Vacancy −$10.4k −$0.33
    EGI $194.3k $6.15
    − OpEx −$29.1k −$0.92
    NOI $165.2k $5.23
    31,600 SF · lease $6.48/SF/yr · vacancy 5.10% · expense 15.00%

    Alternative Uses

    Best Use
    Warehouse
    $2.36M
    $2.06M – $2.75M (±1% cap)
    NOI $165,176 @ 7.0% cap · market cap 8.47%
    Second Best
    Industrial
    $1.94M
    $1.70M – $2.27M (±1% cap)
    NOI $136,027 @ 7.0% cap · market cap 6.98%
    Theoretical Best
    Office A
    $10.91M
    $9.55M – $12.73M (±1% cap)
    NOI $763,703 @ 7.0% cap · market cap 39.16%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • CubeSmart Self Storage — 1080 Butterfield Rd, Mundelein, IL 60060
    • The Move Team LLC — 309 E Hawthorne Blvd, Mundelein, IL 60060
    • AF Move Team — 309 e hawthorne blvd, mundelein, il 60060

    Location Insight

    • Map
    • Local Demand
    City
    Mundelein
    County
    Lake
    State
    Illinois
    Longitude
    -87.9871
    Latitude
    42.2581

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    FAQs

    What type of property is this?
    Warehouse - 31,600 SF warehouse with ample outdoor parking.
    Where is this warehouse located?
    The property is located at 404 Washington Blvd Mundelein, IL.
    What is the asking price?
    The asking price for this property is $1,950,000.
    What are key features of this property?
    This property features: Very Large Outdoor Parking Area - ideal for truck or outdoor storage; Low Lake County Property Taxes; 28' Column Spacing
    (312) 676-1866 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Olivia Czyzynski
    Olivia Czyzynski
    Real Estate License ID: 475146577
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