Fenced Site with Multiple
320 W Lincoln Hwy Cortland, IL 60112
320 W Lincoln Hwy, Cortland, IL, 60112
$1,100,000
For Sale
$1,100,000
Three-acre fenced site with warehouse, office, and outbuildings for sale.
Property Size7,140 SF
Lot Size3.00 Acres
Price / SF$154.06
Days on Market139
Property Features for 320 W Lincoln Hwy
General Information
- Standard status
- Active
- Size
- 7,140 SF
- Lot size
- 3.00 Acres
- Property subtype
- Industrial
Building Details
- Year Built
- 1980
Listing agency
Coldwell Banker Commercial Geneva
(630) 715-5714
Listed by
Charles Kirkwood · License #475142955
(630) 715-5714
Source
Cbcworldwide
Added: Mar 5 Updated: Jul 6 at 10:28AM Checked: Jul 9 at 3:38AM
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 Coldwell Banker Commercial Geneva
Investment Insights
Based on property information with market context.
This three-acre, completely fenced site with three buildings is available for sale or lease and ready for immediate occupancy. Historically used by a fence company, the property is suitable for contractors or other users needing outside storage. The main building is 7140 square feet, featuring 5340 square feet of warehouse space and 1800 square feet of office space, plus an 1800 square foot mezzanine suitable for storage. The heated warehouse space includes 16-foot ceilings (12-foot minimum clear), four 14-foot tall overhead doors, and one 16-foot tall overhead door. The heated and air-conditioned office space comprises a large reception area, five private offices, a conference room, a break room with a sink, and an IT room, along with two bathrooms, including a warehouse bathroom with a shower. There are two unheated, uninsulated steel outbuildings. The front outbuilding, totaling approximately 2520 square feet, is separated into two areas with three overhead door openings, 11-foot clear ceiling height, a concrete floor, and a 200 amp electric panel. The other outbuilding is approximately 4320 square feet and features two overhead door openings and 16-foot clear ceiling height and a gravel floor. Other features include a motorized security gate and a manual interior yard gate. The property is on well and septic and is located only 2 miles to I-88.
Key Highlights
- Three acre completely fenced site with three buildings, ideal for contractors needing outside storage.
- Main building features 7140 sf, including 5340 sf of heated warehouse space and 1800 sf of heated and air conditioned office space.
- Warehouse includes 16' ceilings (12' minimum clear) and five overhead doors (four 14' tall, one 16' tall).
Local Financial Insights For Office B
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 | $174.8k | $24.48 |
| − Vacancy | −$43.5k | −$6.10 |
| EGI | $131.3k | $18.38 |
| − OpEx | −$32.8k | −$4.60 |
| NOI | $98.4k | $13.79 |
7,140 SF · lease $24.48/SF/yr · vacancy 24.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.41M
$1.23M – $1.64M
NOI $98,449 @ 7.0% cap · market cap 8.95%
Second Best
Warehouse
$533.2K
$466.5K – $622.0K
NOI $37,321 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$2.47M
$2.16M – $2.88M
NOI $172,558 @ 7.0% cap · market cap 15.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Complete Fence
General Contractor
Northern Illinois Fence, ...
General Contractor
Similar For Sale Nearby
Similar Off Market Nearby
- Dekalb Distributing Co — 1224 E Lincoln Hwy, DeKalb, IL 60115
FAQs
What type of property is this?
Warehouse - Three-acre fenced site with warehouse, office, and outbuildings for sale.
Where is this warehouse located?
The property is located at 320 W Lincoln Hwy Cortland, IL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Three acre completely fenced site with three buildings, ideal for contractors needing outside storage.; Main building features **7140 sf, including 5340 sf of heated warehouse space and 1800 sf of heated and air conditioned office space.**; Warehouse includes **16' ceilings (12' minimum clear) and five overhead doors (four 14' tall, one 16' tall).**