Flex Space with
For Sale
$325,000
135 E Main Street, Glenwood, IL 60425
Multi-building commercial property with showroom, shooting-range rooms, office areas, and a powered warehouse with tall ceilings.
Property Size5,500 SF
Days on Market205
Property Features for 135 E Main Street
General Information
Standard status
Active
Size
5,500 SF
Property subtype
Commercial
Zoning
COMMR
Additional Details
Road Access
Yes
Warehouse Space
2,925 SF
Taxes and HOA fees
Annual Taxes
$18,794
Building Details
Building Size
5,500 SF
Year Built
1959
Buildings
2
Stories
1
Units
2
Listing Agency:
Re/Max 10
(708) 672-4700
Listed By:
Debbie Johnston · License #475145225
(708) 672-4700
Source:
Perillorealestategroup
Added: Jan 19
Changed: Aug 8
Last Checked: Aug 12 at 12:09PM
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 Re/Max 10
Investment Insights
Based on property information with market context.
This flex-space property includes a front building configured for several commercial functions, including a showroom, shooting-range area, meeting space, and back office. The front section also contains a 1000 square foot area divided into two separate areas that share one bathroom. Two safes remain in the building, and the layout includes space for merchandise display.
A rear warehouse measures 45 x 65 and features power, concrete floors, and tall ceilings. The property also includes a vacant lot measuring 200 x 400 to the west. Located on Main Street in Glenwood, the property carries COMMR zoning and was built in 1959.
A rear warehouse measures 45 x 65 and features power, concrete floors, and tall ceilings. The property also includes a vacant lot measuring 200 x 400 to the west. Located on Main Street in Glenwood, the property carries COMMR zoning and was built in 1959.
Key Highlights
- Front building includes showroom, shooting‑range area, meeting space, back office, and 2 safes
- 1000 square foot front section divided into 2 areas sharing 1 bath
- Rear warehouse measures 45 x 65 with power, concrete floors, and tall ceilings
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
$28,749
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
8.85%
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%
$574,980
$575.0K
Cap Rate 7%
$410,700
$410.7K
Cap Rate 9%
$319,433
$319.4K
Market Conditions
NOI Build-Up for 5,500 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
$35.6K $6.48/SF
− Vacancy
−$1.8K −$0.33/SF
EGI
$33.8K $6.15/SF
− OpEx
−$5.1K −$0.92/SF
NOI
$28.7K $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%
$574,980
Cap Rate 7%
$410,700
Cap Rate 9%
$319,433
Alternative Uses
Best Use
Retail
$1.09M
$954.3K – $1.27M
NOI $76,341 @ 7.0% cap · market cap 23.49%
Second Best
Flex RnD
$827.4K
$723.9K – $965.3K
NOI $57,915 @ 7.0% cap · market cap 17.82%
Theoretical Best
Office A
$1.90M
$1.66M – $2.22M
NOI $132,923 @ 7.0% cap · market cap 40.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
206
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60425, IL
8,781
Population
3,526
Households
2.5
Avg Household Size
42
Median Age
37%
College-Educated
94%
High-School Grad
5.6 sq mi
ZIP Area
1,568
Density / Sq Mi
$71,348
Median Household Income
$40,814
Median Earnings
$1,639
Median Rent
$182,000
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.
Similar Off Market Nearby
- Soulful Creations Catering & More — 321 E Glenwood Lansing Rd, Glenwood, IL 60425
- Glenwood Oaks & Dos Caminos Seafood | Restaurant, Banquets & Catering — 106 N Main St, Glenwood, IL 60425
Frequently Asked Questions
What type of property is this?
Flex space - Multi-building commercial property with showroom, shooting-range rooms, office areas, and a powered warehouse with tall ceilings.
Where is this flex space located?
The property is located at 135 E Main Street Glenwood, IL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Front building includes showroom, shooting‑range area, meeting space, back office, and 2 safes; 1000 square foot front section divided into 2 areas sharing 1 bath; Rear warehouse measures 45 x 65 with power, concrete floors, and tall ceilings
