Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1628-30 Rand Rd Des Plaines, IL 60016

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,917,000

    Renovated industrial warehouse with showroom, high traffic location.

    Lot size:
    1.00 Acre

    Property Features for 1628-30 Rand Rd

    General Information

    Standard status
    Active
    Lot size
    1.00 Acre

    Building Details

    Year built
    1950

    We can help!

    Listing Contact
    Urszula Topolewicz
    Urszula Topolewicz
    Source: Corcoran

    Listing Agency: NOWEQUITY REAL ESTATE Listing Agent: Urszula Topolewicz

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Industrial Warehouse with Showroom

    This industrial warehouse, totaling 15336 square feet, presents an opportunity for two businesses, as the property has two addresses under one pin. The building features a showroom facing the main street. Situated on a 1-acre lot with C-3 zoning, the property boasts 300 feet of frontage on a high-profile corner, benefiting from an average daily traffic count of 32,000. Renovated in 2024, the building is in excellent condition, featuring newer commercial windows and doors. The warehouse includes a 14-foot ceiling height and three overhead doors. A new roof and skylights have been installed, along with new epoxy flooring and a new HVAC unit. Located minutes from O'Hare and with easy access to I-294, the property is at the heart of the intersection of Des Plaines, Rand, and River Rd. The building is subdivided into two potential business spaces, suitable for combining or operating separately. The current tenants include a trade contractor and a used car dealership, requiring 3 months' notice to move out. The intended use of the property is for industrial and commercial purposes.
    Location Intelligence

    Current Use by Public Records

    Showrooms

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Similar Places Nearby

    Public Storage, Self Storage, Thompson's Storage facility, Metro Self Storage - Des Plaines

    Location Insight

    • Map
    • Local Demand
    City
    Des Plaines
    County
    Cook
    State
    Illinois
    Longitude
    -87.8833841
    Latitude
    42.0467291

    Nearby Similar for Sale

    • New
      $1,917,000
      15,336 SF

      Des Plaines Industrial Warehouse/Showroom

      Renovated industrial warehouse with showroom, high traffic location.
      1628-30 Rand Rd, Des Plaines, IL 60016
      View Details
    • Contact for pricing

      Established Barber Shop For Sale

      Profitable barber shop with loyal clientele in busy business center.
      630 W Algonquin Rd, Des Plaines, IL 60016
      View Details
    • $790,000
      2,500 SF

      Former Bank with Off-Street Parking

      Former bank location with off-street parking near O’Hare Airport.
      379 South River Rd, Des Plaines, IL 60016
      View Details
    • $849,900
      8,400 SF

      Retail Property in Des Plaines

      Retail property available for sale in Des Plaines, Illinois.
      1617 E Oakton St, Des Plaines, IL 60018
      View Details
    • Contact for pricing

      Class A Office Property

      Two-building Class A office property near O'Hare with modern amenities.
      10255 W Higgins Rd, Des Plaines, IL 60018
      View Details
    • $588,000

      Free Standing Building in Des Plaines

      2000+ sqft vacant building with expansion potential in downtown Des Plaines.
      1157 E Algonquin Rd, Des Plaines, IL 60016
      View Details
    • $999,995

      Turnkey Automotive Facility For Sale

      Turnkey automotive facility in Des Plaines' industrial corridor.
      1765 Busse Hwy, Des Plaines, IL 60016
      View Details
    • Contact for pricing
      136,533 SF

      Rand Road Business Park Warehouses

      Four multi-tenant warehouse/flex buildings totaling 136,533 SF for sale.
      1221-1311 Rand Rd, Des Plaines, IL 60016
      View Details
    • Contact for pricing
      16,246 SF

      Retail Center Anchored by Starbucks

      Multi-tenant retail center in prime commercial area near O’Hare.
      9500-9520 W Higgins Rd, Des Plaines, IL 60018
      View Details
    • Contact for pricing
      136,000 SF

      Class A Office Building

      Four-story office building with Class A amenities and strong transit access.
      5500 Pearl St, Des Plaines, IL 60018
      View Details
    • Contact for pricing
      21,300 SF

      Des Plaines Warehouse Opportunity

      Warehouse with large parking lot and proximity to O'Hare Airport.
      Des Plaines, IL 60007
      View Details
    • Contact for pricing
      5,320 SF

      Des Plaines Flex/Industrial/Office Building

      5,320 SF building on 0.34 AC in Des Plaines.
      1033 Graceland Ave, Des Plaines, IL 60016
      View Details

    FAQs

    What type of property is this?
    Warehouse - Renovated industrial warehouse with showroom, high traffic location.
    Where is this warehouse located?
    The property is located at 1628-30 Rand Rd Des Plaines, IL.
    What is the asking price?
    The asking price for this property is $1,917,000.
    What are key features of this property?
    This property features: - High-traffic location with 32,000 average daily traffic count and 300 ft. frontage on a high-profile corner.; - Large 15,336 sq. ft. industrial warehouse on a 1-acre lot, zoned C-3, suitable for multiple businesses.; - Recently renovated in 2024 with new roof, skylights, epoxy flooring, HVAC unit, commercial windows and doors.
    (708) 598-1144
    Request Owner's contact information
    1628-30 Rand Rd Des Plaines, IL 60016
    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.
    1628-30 Rand Rd
    Des Plaines, IL 60016
    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
    1628-30 Rand Rd Des Plaines, IL 60016
    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

    We can help!
    Listing Contact
    Urszula Topolewicz
    Urszula Topolewicz
    Real Estate License ID: 471002290
    (708) 598-1144 (773) 719-2053 (847) 241-8484
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!