Contiguous Flex Space
For Sale
Contact for pricing
11956 Oak Creek Parkway, Huntley, IL 60142
Four industrial condo units provide expandable space with shared loading and parking.
Property Size20,384 SF
Price / SF$117.62
Days on Market141
Property Features for 11956 Oak Creek Parkway
General Information
Standard status
Active
Size
20,384 SF
Property subtype
Industrial
Warehouse & Industrial
Clear Height
24 ft
Office Build-Out
3,340 SF
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Listing Agency:
Premier Commercial Realty
(815) 236-9816
Listed By:
Heather Schweitzer · License #IL 471019756
Source:
Crexi
Added: Apr 13
Changed: Aug 30
Last Checked: Aug 30 at 4:56PM
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 Premier Commercial Realty
Investment Insights
Based on property information with market context.
Four industrial condo units are available within Huntley Gateway Commons, with contiguous layouts that can be combined into a 20,384-square-foot configuration. The units include varying office buildouts, mezzanine areas above the offices in Units C and F, and ceiling heights ranging from 18 to 24 feet. Units C and D have 14-foot by 16-foot drive-in doors, while common dock access supports shared loading needs.
The condominium association provides common parking and shared loading in a professionally managed industrial setting. The property is positioned near RT 14 and I-90, providing access to major transportation routes. Unit configurations support warehouse, distribution, and light manufacturing uses as described in the property information.
The condominium association provides common parking and shared loading in a professionally managed industrial setting. The property is positioned near RT 14 and I-90, providing access to major transportation routes. Unit configurations support warehouse, distribution, and light manufacturing uses as described in the property information.
Key Highlights
- Four contiguous industrial condo units totaling 20,384 SF
- 18–24‑foot ceiling heights across the units
- 14' x 16' drive‑in doors in Units C and D
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$121,703
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,434,060
$2.4M
Cap Rate 7%
$1,738,614
$1.7M
Cap Rate 9%
$1,352,256
$1.4M
Market Conditions
NOI Build-Up for 20,384 SF
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.
Gross rent
$198.1K $9.72/SF
− Vacancy
−$10.9K −$0.53/SF
EGI
$187.2K $9.19/SF
− OpEx
−$65.5K −$3.21/SF
NOI
$121.7K $5.97/SF
Area
McHenry County, IL
Vacancy
5.50%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,434,060
Cap Rate 7%
$1,738,614
Cap Rate 9%
$1,352,256
Alternative Uses
Best Use
Flex RnD
$1.74M
$1.52M – $2.03M
NOI $121,703 @ 7.0% cap · market cap 5.08%
Second Best
Warehouse
$1.52M
$1.33M – $1.78M
NOI $106,549 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$7.04M
$6.16M – $8.21M
NOI $492,637 @ 7.0% cap · market cap 20.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
24 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60142, IL
29,831
Population
13,194
Households
2.3
Avg Household Size
48
Median Age
39%
College-Educated
96%
High-School Grad
38.9 sq mi
ZIP Area
767
Density / Sq Mi
$87,286
Median Household Income
$55,366
Median Earnings
$1,377
Median Rent
$324,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Four industrial condo units provide expandable space with shared loading and parking.
Where is this flex space located?
The property is located at 11956 Oak Creek Parkway Huntley, IL.
What is the asking price?
The asking price for this property is $2,397,500.
What are key features of this property?
This property features: Four contiguous industrial condo units totaling 20,384 SF; 18–24‑foot ceiling heights across the units; 14' x 16' drive‑in doors in Units C and D
