Industrial Warehouse with
For Sale
$1,899,000
1628-30 Rand Road, Des Plaines, IL 60016
Renovated industrial warehouse with showroom, high traffic location.
Property Size15,336 SF
Lot Size1.00 Acre
Price / SF$123.83
Days on Market713
Property Features for 1628-30 Rand Road
General Information
Standard status
Active
Size
15,336 SF
Lot size
1.00 Acre
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$83,051
Building Details
Year Built
1950
Listing Agency:
NowEquity Real Estate
(773) 719-2053
Listed By:
Urszula Topolewicz · License #471002290
(773) 719-2053
Source:
Exitrealty
Added: Aug 27, 2024
Changed: Aug 7
Last Checked: Aug 8 at 7:53AM
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 NowEquity Real Estate
Investment Insights
Based on property information with market context.
This 15,336 sq. ft. industrial warehouse features a large showroom facing the main street. Situated on a 1-acre lot with C-3 zoning, the property offers 300 ft. of frontage on a high-profile corner with an average daily traffic count of 32,000. The building, renovated in 2024 and in excellent condition, includes newer commercial windows and doors, a 14-foot ceiling height, and three overhead doors. Additional features include a new roof, skylights, epoxy flooring, and a new HVAC unit. Located at the heart of the intersection of Des Plaines, Rand, and River Rd, it provides convenient access to O'Hare and I-294. The building is subdivided, offering the potential for two businesses or a combined single operation. Currently, the property is occupied by a trade contractor and a used car dealership, with tenants requiring 3 months' notice to vacate. This property is suitable for various commercial real estate purposes, including warehouses, industrial properties, showrooms, retail spaces, car washes, automotive properties, and auto shops.
Key Highlights
- High‑traffic corner location with 300 ft frontage and 32,000 average daily traffic count.
- Large 15,336 sq. ft. industrial warehouse** suitable for two businesses or combined as one.
- Recently renovated in 2024 with new roof, skylights, epoxy flooring, and HVAC unit.
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
$80,163
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
4.22%
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%
$1,603,260
$1.6M
Cap Rate 7%
$1,145,186
$1.1M
Cap Rate 9%
$890,700
$890.7K
Market Conditions
NOI Build-Up for 15,336 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
$99.4K $6.48/SF
− Vacancy
−$5.1K −$0.33/SF
EGI
$94.3K $6.15/SF
− OpEx
−$14.1K −$0.92/SF
NOI
$80.2K $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%
$1,603,260
Cap Rate 7%
$1,145,186
Cap Rate 9%
$890,700
Alternative Uses
Best Use
Specialty Retail
$3.67M
$3.21M – $4.28M
NOI $256,725 @ 7.0% cap · market cap 13.52%
Second Best
Retail
$3.04M
$2.66M – $3.55M
NOI $212,866 @ 7.0% cap · market cap 11.21%
Theoretical Best
Office A
$5.29M
$4.63M – $6.18M
NOI $370,638 @ 7.0% cap · market cap 19.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,557
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60016, IL
61,888
Population
25,613
Households
2.4
Avg Household Size
42
Median Age
43%
College-Educated
89%
High-School Grad
12.1 sq mi
ZIP Area
5,115
Density / Sq Mi
$84,044
Median Household Income
$50,180
Median Earnings
$1,406
Median Rent
$300,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
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 Road Des Plaines, IL.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: High‑traffic corner location with **300 ft frontage and 32,000 average daily traffic count**.; Large 15,336 sq. ft. industrial warehouse** suitable for two businesses or combined as one.; Recently renovated in 2024 with new roof, skylights, epoxy flooring, and HVAC unit.
