Distribution Center With Loading
For Sale
$7,950,000
1400 Centre Cir, Downers Grove, IL 60515
Industrial facility offers truck access and a layout suited to distribution, light manufacturing, and service operations.
Property Size72,400 SF
Price / SF$109.81
Days on Market150
Property Features for 1400 Centre Cir
General Information
Standard status
Active
Size
72,400 SF
Property subtype
Vacant-User
Warehouse & Industrial
Clear Height
20 ft
Dock-High Doors
6
Drive-In Doors
2
Additional Details
Highway Access
Yes
Amenities
Highly Functional 72,400-Square-Foot Distribution Warehouse
20 Foot Clear Height | Two Drive-in Doors | Six Interior Loading Docks
DuPage County Location | Direct Access to I-355, I-88 and Route 83
Strong Leasing Market Fundamentals | 3.1 Percent Vacancy Rate within Five-mile Radius for Product Under 100,000 Square Feet
Affluent Submarket | Over $175,000 Average Household Income within Five-mile Radius
Building Details
Building Size
72,400 SF
Year Built
1979
Listing Agency:
Chicago Downtown Office
(312) 327-5470
Listed By:
Peter Doughty · License #IL: 475.177502
(312) 327-5470
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 30
Last Checked: Aug 30 at 1:21AM
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 Chicago Downtown Office
Investment Insights
Based on property information with market context.
Built in 1979, this industrial property provides 72,400 square feet with 20-foot clear height. The building includes two drive-in doors and six interior loading docks, supporting distribution, light manufacturing, and service-oriented operations. Its configuration is suited to both owner-user occupancy and industrial investment use.
The property is located within an industrial park in Downers Grove, Illinois, with immediate access to Interstate 355 and proximity to Interstate 88. These connections provide routes into the broader Chicagoland distribution network, downtown Chicago, and O’Hare International Airport. The asset is positioned in DuPage County’s established suburban industrial corridor.
The property is located within an industrial park in Downers Grove, Illinois, with immediate access to Interstate 355 and proximity to Interstate 88. These connections provide routes into the broader Chicagoland distribution network, downtown Chicago, and O’Hare International Airport. The asset is positioned in DuPage County’s established suburban industrial corridor.
Key Highlights
- 72,400‑square‑foot industrial building
- 20‑foot clear height
- Two drive‑in doors and six interior loading docks
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
$378,441
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
4.76%
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%
$7,568,820
$7.6M
Cap Rate 7%
$5,406,300
$5.4M
Cap Rate 9%
$4,204,900
$4.2M
Market Conditions
NOI Build-Up for 72,400 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
$469.2K $6.48/SF
− Vacancy
−$23.9K −$0.33/SF
EGI
$445.2K $6.15/SF
− OpEx
−$66.8K −$0.92/SF
NOI
$378.4K $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%
$7,568,820
Cap Rate 7%
$5,406,300
Cap Rate 9%
$4,204,900
Alternative Uses
Best Use
Warehouse
$5.41M
$4.73M – $6.31M
NOI $378,441 @ 7.0% cap · market cap 4.76%
Second Best
Industrial
$4.45M
$3.90M – $5.19M
NOI $311,658 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$25.00M
$21.87M – $29.16M
NOI $1,749,749 @ 7.0% cap · market cap 22.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
6
Dock-high doors
2
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,756
Businesses Nearby
Explore this area
Business Placement
Demographics for 60515, IL
29,278
Population
12,443
Households
2.4
Avg Household Size
43
Median Age
61%
College-Educated
98%
High-School Grad
11.8 sq mi
ZIP Area
2,481
Density / Sq Mi
$121,358
Median Household Income
$69,341
Median Earnings
$1,563
Median Rent
$453,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Distribution center - Industrial facility offers truck access and a layout suited to distribution, light manufacturing, and service operations.
Where is this distribution center located?
The property is located at 1400 Centre Cir Downers Grove, IL.
What is the asking price?
The asking price for this property is $7,950,000.
What are key features of this property?
This property features: 72,400‑square‑foot industrial building; 20‑foot clear height; Two drive‑in doors and six interior loading docks
