Industrial Warehouse with Heavy
For Sale
Contact for pricing
1229 Capitol Dr, Addison, IL 60101
Freestanding warehouse with full air conditioning, crane equipment, and loading access for industrial operations.
Property Size14,891 SF
Price / SF$150
Days on Market146
Property Features for 1229 Capitol Dr
General Information
Standard status
Active
Size
14,891 SF
Property subtype
Industrial
Warehouse & Industrial
Dock-High Doors
1
Drive-In Doors
1
Heavy Power
Yes
Conditioned Warehouse
Yes
Building Details
Year Built
1974
Year Renovated
2022
Listing Agency:
GC Realty and Development
(630) 674-6989
Listed By:
Brad Bullington · License #IL 475.134976
Source:
Crexi
Added: Apr 9
Changed: Aug 30
Last Checked: Aug 30 at 1:23PM
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 GC Realty and Development
Investment Insights
Based on property information with market context.
This freestanding warehouse contains 14,891 square feet and was built in 1974. The building is fully air conditioned and equipped with heavy power and cranes, supporting industrial uses that require substantial electrical capacity and material-handling equipment.
Loading is provided by one dock door and one drive-in door. The property is located at 1229 Capitol Dr in Addison, Illinois.
Loading is provided by one dock door and one drive-in door. The property is located at 1229 Capitol Dr in Addison, Illinois.
Key Highlights
- 14,891‑square‑foot freestanding industrial building
- 100% AC
- Heavy power service
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
$77,837
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
3.48%
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%
$1,556,740
$1.6M
Cap Rate 7%
$1,111,957
$1.1M
Cap Rate 9%
$864,856
$864.9K
Market Conditions
NOI Build-Up for 14,891 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
$96.5K $6.48/SF
− Vacancy
−$4.9K −$0.33/SF
EGI
$91.6K $6.15/SF
− OpEx
−$13.7K −$0.92/SF
NOI
$77.8K $5.23/SF
Area
DuPage 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%
$1,556,740
Cap Rate 7%
$1,111,957
Cap Rate 9%
$864,856
Alternative Uses
Best Use
Warehouse
$1.11M
$973.0K – $1.30M
NOI $77,837 @ 7.0% cap · market cap 3.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.14M
$4.50M – $6.00M
NOI $359,883 @ 7.0% cap · market cap 16.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
1
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
744
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60101, IL
37,644
Population
14,145
Households
2.7
Avg Household Size
38
Median Age
22%
College-Educated
77%
High-School Grad
11.4 sq mi
ZIP Area
3,302
Density / Sq Mi
$87,860
Median Household Income
$42,007
Median Earnings
$1,236
Median Rent
$315,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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- Storage Services Inc — 111 S Lombard Rd #3, Addison, IL 60101
- Prologis — 10 N Mitchell Ct, Addison, IL 60101
Frequently Asked Questions
What type of property is this?
Warehouse - Freestanding warehouse with full air conditioning, crane equipment, and loading access for industrial operations.
Where is this warehouse located?
The property is located at 1229 Capitol Dr Addison, IL.
What is the asking price?
The asking price for this property is $2,233,650.
What are key features of this property?
This property features: 14,891‑square‑foot freestanding industrial building; 100% AC; Heavy power service
