Free-Standing Industrial Building For
For Sale
$832,000
221 Lively Blvd., Elk Grove Village, IL 60007
8,000 SF industrial building with ample office and warehouse space.
Property Size8,000 SF
Price / SF$104
Days on Market195
Property Features for 221 Lively Blvd.
General Information
Standard status
Active
Size
8,000 SF
Property subtype
Industrial
Building Details
Building Size
8,000 SF
Year Built
1970
Listing Agency:
Brown Commercial Group Inc
(847) 758-9200
Listed By:
Candace Scurto
Source:
Browncommercialgroup
Added: Jan 27
Changed: Aug 8
Last Checked: Aug 8 at 1:14PM
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 Brown Commercial Group Inc
Investment Insights
Based on property information with market context.
This free-standing building features 10-14' clear ceilings, one drive-in door, and a hydraulic lift. The property includes ample office space, a 2,000 square foot production area, and a 4,000 square foot warehouse. It is located in an established industrial park with convenient access to major transportation routes via nearby Route 72, Route 83, and I-90. The total property size is 8,000 square feet.
Key Highlights
- Excellent location in established industrial park with easy access to Rt. 72, Rt. 83, and I‑90.
- 4000 sf warehouse and 2000 sf production area.
- Free‑standing building.
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
$41,817
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
5.03%
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%
$836,340
$836.3K
Cap Rate 7%
$597,386
$597.4K
Cap Rate 9%
$464,633
$464.6K
Market Conditions
NOI Build-Up for 8,000 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
$51.8K $6.48/SF
− Vacancy
−$2.6K −$0.33/SF
EGI
$49.2K $6.15/SF
− OpEx
−$7.4K −$0.92/SF
NOI
$41.8K $5.23/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
15.00%
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%
$836,340
Cap Rate 7%
$597,386
Cap Rate 9%
$464,633
Alternative Uses
Best Use
Office B
$1.58M
$1.38M – $1.84M
NOI $110,307 @ 7.0% cap · market cap 13.26%
Second Best
Flex RnD
$1.20M
$1.05M – $1.40M
NOI $84,240 @ 7.0% cap · market cap 10.13%
Theoretical Best
Office A
$2.76M
$2.42M – $3.22M
NOI $193,342 @ 7.0% cap · market cap 23.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
742
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60007, IL
33,670
Population
13,580
Households
2.5
Avg Household Size
45
Median Age
41%
College-Educated
92%
High-School Grad
18.1 sq mi
ZIP Area
1,860
Density / Sq Mi
$95,240
Median Household Income
$54,762
Median Earnings
$1,574
Median Rent
$334,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - 8,000 SF industrial building with ample office and warehouse space.
Where is this warehouse located?
The property is located at 221 Lively Blvd. Elk Grove Village, IL.
What is the asking price?
The asking price for this property is $832,000.
What are key features of this property?
This property features: Excellent location in established industrial park with easy access to Rt. 72, Rt. 83, and I‑90.; 4000 sf warehouse and 2000 sf production area.; Free‑standing building.
