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

    742 Glenn Ave Wheeling, IL 60090

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    67,550 SF warehouse undergoing renovations with low real estate taxes.

    Property Features for 742 Glenn Ave

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Kelly Disser
    Kelly Disser
    Source: Crexi

    Listing Agency: NAI Hiffman Listing Agent: Kelly Disser

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

    Learn more

    Overview

    Renovated Wheeling Warehouse Space Available

    This property offers approximately 67,550 square feet of warehouse space and is currently undergoing renovations. It is located in Wheeling, IL. The property benefits from a new 6B tax designation, resulting in low real estate taxes.
    Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    SecPlus

    Location Insight

    • Map
    • Local Demand
    City
    Wheeling
    County
    Cook
    State
    Illinois
    Longitude
    -87.9198321
    Latitude
    42.125758

    Nearby Similar for Lease

    • Contact for pricing

      Wheeling Commercial Space For Rent

      Commercial space available for rent in Wheeling, Illinois.
      1040 S Milwaukee Ave, Wheeling, IL 60090
      View Details
    • Contact for pricing

      Wheeling Commercial Space For Rent

      Commercial space available for rent in Wheeling, Illinois.
      1040 S Milwaukee Ave, Wheeling, IL 60090
      View Details
    • Contact for pricing

      Commercial Space in Wheeling, IL

      Flex, industrial, and office spaces available for rent in Wheeling.
      1040 S Milwaukee Ave, Wheeling, IL 60090
      View Details
    • Contact for pricing
      136,778 SF

      Wheeling Professional Building Office Space

      Well-maintained medical/professional office building with ample parking and updated amenities.
      201 E Strong St, Wheeling, IL 60090
      View Details
    • Contact for pricing
      9,900 SF

      Wheeling Retail Space For Rent

      Retail spaces available in Wheeling's restaurant row.
      751 North Milwaukee Ave, Wheeling, IL 60090
      View Details
    • Contact for pricing
      510 SF

      Retail Spaces on Milwaukee Avenue

      Retail spaces for lease on high-traffic Milwaukee Avenue.
      650-692 N Milwaukee Ave, Prospect Heights, IL 60070
      View Details
    • Contact for pricing

      Wheeling Retail Building Sublease Opportunity

      Freestanding 11,808 SF retail building with fully built-out kitchen.
      781 N Milwaukee Ave, Wheeling, IL 60090
      View Details
    • Contact for pricing

      Renovated Flex Condo in Wheeling

      Renovated 1,100 SF flex condo for lease in Wheeling.
      537 N Wolf Rd, Wheeling, IL 60090
      View Details
    • $6 SF/Yr

      Wheeling Flex Industrial Units

      Flex industrial units for lease in established Wheeling industrial park.
      600-668 Wheeling Rd, Wheeling, IL 60090
      View Details
    • $13 SF/Yr

      Wheeling Industrial Space Available

      Industrial property with 35,882 square feet available for lease.
      225 Larkin Dr, Wheeling, IL 60090
      View Details
    • Contact for pricing

      Wheeling Industrial Space For Lease

      Divisible industrial space in Wheeling, Illinois, with convenient highway access.
      925 Seton Ct, Wheeling, IL 60090
      View Details
    • Contact for pricing

      Wheeling Industrial Space For Lease

      Industrial spaces available for lease in Wheeling, Illinois.
      830 Seton Ct, Wheeling, IL 60090
      View Details

    FAQs

    What type of property is this?
    Warehouse - 67,550 SF warehouse undergoing renovations with low real estate taxes.
    Where is this warehouse located?
    The property is located at 742 Glenn Ave Wheeling, IL.
    What are key features of this property?
    This property features: - ±67,550 SF of space.; - Renovations Underway, presenting an opportunity to customize.; - Benefit from the New 6B.
    (630) 317-0721
    Request Owner's contact information
    742 Glenn Ave Wheeling, IL 60090
    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.
    742 Glenn Ave
    Wheeling, IL 60090
    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
    742 Glenn Ave Wheeling, IL 60090
    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
    Kelly Disser
    Kelly Disser
    Real Estate License ID: 475133590
    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!