Two-Suite Warehouse
New
For Sale
$1,368,000
135 Martin Ln, Elk Grove Village, IL 60007
Industrial warehouse property with dock access, drive-in doors, and a vacant suite available for occupancy.
Property Size11,400 SF
Price / SF$120
Days on Market5
Property Features for 135 Martin Ln
General Information
Standard status
Active
Size
11,400 SF
Property subtype
Warehouse
Occupancy
63%
Warehouse & Industrial
Clear Height
14 ft
Dock-High Doors
1
Drive-In Doors
2
Additional Details
Highway Access
Yes
Amenities
Currently Configured as a Multi-Tenant Industrial Asset with Flexibility for a Single Owner-User
In-Fill Location | Directly Adjacent to O'Hare International Airport
Strong Leasing Fundamentals | 2.2 Percent Vacancy Rate for Industrial Product Under 15,000 Square Feet
Over $139,000 Average Household Income within Five-Mile Radius
Over 249,000 Population within Five-Mile Radius
Zoning District: Restricted Industrial District (I-1)
Building Details
Building Size
11,400 SF
Year Built
1990
Listing Agency:
Marcus & Millichap - Chicago Downtown
(312) 327-5470
Listed By:
Peter Doughty · License #License(s): IL: 475.177502
(312) 327-5470
Source:
Marcusmillichap
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 16 at 3:01AM
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 Marcus & Millichap - Chicago Downtown
Investment Insights
Based on property information with market context.
This 11,400-square-foot warehouse property contains two suites: a 7,200-square-foot unit and a 4,200-square-foot unit. Built in 1990, the building offers 14-foot clear height, one dock, and two drive-in doors. Current occupancy is 63 percent, with Unit A leased to a long-term tenant and Unit B vacant.
The property is located at 135 Martin Lane in Elk Grove Village, Illinois, directly next to O’Hare International Airport and off Interstate-90. Its position within Elk Grove Village’s industrial park provides an established setting for warehouse operations and distribution uses.
The property is located at 135 Martin Lane in Elk Grove Village, Illinois, directly next to O’Hare International Airport and off Interstate-90. Its position within Elk Grove Village’s industrial park provides an established setting for warehouse operations and distribution uses.
Key Highlights
- 11,400‑square‑foot warehouse building with two suites
- Suite sizes include 7,200 square feet and 4,200 square feet
- 63 percent occupied; Unit A leased and Unit B vacant
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
$59,589
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
4.36%
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%
$1,191,780
$1.2M
Cap Rate 7%
$851,271
$851.3K
Cap Rate 9%
$662,100
$662.1K
Market Conditions
NOI Build-Up for 11,400 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
$73.9K $6.48/SF
− Vacancy
−$3.8K −$0.33/SF
EGI
$70.1K $6.15/SF
− OpEx
−$10.5K −$0.92/SF
NOI
$59.6K $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%
$1,191,780
Cap Rate 7%
$851,271
Cap Rate 9%
$662,100
Alternative Uses
Best Use
Warehouse
$851.3K
$744.9K – $993.2K
NOI $59,589 @ 7.0% cap · market cap 4.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.94M
$3.44M – $4.59M
NOI $275,513 @ 7.0% cap · market cap 20.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
1
Dock-high doors
2
Drive-in doors
63%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,141
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60007, IL
33,670
Population
13,580
Households
2.5
Avg Household Size
45
Median Age
41%
College-Educated
92%
High-School Grad
18.1 sq mi
ZIP Area
1,860
Density / Sq Mi
$95,240
Median Household Income
$54,762
Median Earnings
$1,574
Median Rent
$334,800
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
- Yard space — Arlington Heights, IL 60005
- Lineage — 600 E Brook Dr, Arlington Heights, IL 60005
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse property with dock access, drive-in doors, and a vacant suite available for occupancy.
Where is this warehouse located?
The property is located at 135 Martin Ln Elk Grove Village, IL.
What is the asking price?
The asking price for this property is $1,368,000.
What are key features of this property?
This property features: 11,400‑square‑foot warehouse building with two suites; Suite sizes include 7,200 square feet and 4,200 square feet; 63 percent occupied; Unit A leased and Unit B vacant
