Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Updated Industrial Condo in New Lenox Title is generated by Realmo AI

    14001 W Illinois Highway, New Lenox, IL 60451

    View on Map
    Claim this Listing
    For Lease
    $15 SF/Yr $3,125/Mo (calc)

    2500 SF updated industrial condo with office and warehouse space.

    Type:Commercial
    Property size:
    2,500 SF
    Added:
    Mar 26, 2026
    Days on Market:
    69
    Last Refresh:
    Apr 1 at 9:02 pm

    Property Features for 14001 W Illinois Highway

    General Information

    Standard status
    Active
    Size
    2,500 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    2002

    We can help!

    Listing Contact
    DEBBIE DEGROOT

    Listing agent DEBBIE DEGROOT

    Listing office CRIS REALTY

    Listing date Mar 26, 2026

    Source Corcoran

    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 CRIS REALTY

    HighLights

    • Prime location in New Lenox with easy access to I‑80, I‑355, and I‑57.
    • Updated space with approximately 1,400 SF of office space and 1,100 SF of heated and air‑conditioned warehouse space.
    • Warehouse features a 14 ft electric lift door and 16 ft clear height.
    • Office area includes 3 large offices, a conference room, 2 kitchenettes, and 2 bathrooms (one with shower).
    • End unit with 2500 SF of space.
    • Updated LED lighting and new security wiring throughout.

    Overview

    This 2500 SF end unit industrial condo is located in New Lenox, offering convenient access to I-80, I-355, and I-57. The updated space includes approximately 1,400 SF of office space and 1,100 SF of warehouse space. The warehouse features a 14 ft electric lift door with a 16 ft clear height and is heated and air conditioned. The office area comprises three large office areas, a conference room, two kitchenettes, and two bathrooms, one of which includes a shower. Ample storage space is available. The property has updated LED lighting and new security wiring throughout.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    New Lenox
    County
    Will
    State
    Illinois
    Longitude
    -87.9555164
    Latitude
    41.4974384

    Nearby Similar for Lease

    • $12 SF/Yr
      9,120 SF

      New Lenox Warehouse Units Available

      Warehouse units for lease in New Lenox, Illinois.
      21757 S Center Avenue, New Lenox, IL 60451
      View Details
    • Contact for pricing
      22,000 SF

      New Industrial Property in New Lenox

      New industrial spaces for lease, 2,900 to 22,000 SF.
      12517-12531 Harvey Drive, New Lenox, IL 60451
      View Details
    • $20 SF/Yr
      500 SF

      Retail/Office Space on Route 30

      Retail or office space with high visibility and accessibility.
      227 W Maple Street #B, New Lenox, IL 60451
      View Details
    • $17 SF/Yr
      1,000 SF

      Professional Office Space for Rent

      1000 sq ft office space with open area.
      1234 N Cedar Road #A, New Lenox, IL 60451
      View Details
    • $15 SF/Yr
      762 SF

      Retail Space in High-Traffic Area

      Retail space for rent in a high-traffic location.
      317 W Maple Street #317, New Lenox, IL 60451
      View Details
    • $15 SF/Yr
      6,310 SF

      Medical Office Space Available

      6,310 SF medical office with 12 exam rooms.
      180-196 W. Illinois Highway, New Lenox, IL 60451
      View Details
    • $12 SF/Yr
      9,120 SF

      New Lenox Warehouse Spaces Available

      Warehouse units for lease in New Lenox, Illinois.
      21753 S Center Avenue, New Lenox, IL 60451
      View Details
    • $12 SF/Yr
      9,120 SF

      New Lenox Warehouse Units Available

      Warehouse units for lease in New Lenox, Illinois.
      21755 S Center Avenue, New Lenox, IL 60451
      View Details
    • $12 SF/Yr
      9,120 SF

      New Lenox Warehouse Space Available

      Warehouse units for lease in New Lenox, Illinois.
      21751 S Center Avenue, New Lenox, IL 60451
      View Details
    • $7 SF/Yr
      1,000 SF

      Move-in Ready Office Suites Available

      Office suites for rent with utilities and maintenance included.
      1200 S Cedar Road, New Lenox, IL 60451
      View Details
    • Contact for pricing

      Office Space with Attached Garage

      Office space with attached 2.5 car garage in New Lenox.
      12410 W Horseshoe Drive, New Lenox, IL 60451
      View Details
    • Contact for pricing

      Prime Office Space Available

      Affordable office spaces in high-traffic New Lenox location.
      1333 S Schoolhouse Road, New Lenox, IL 60451
      View Details

    FAQs

    What type of property is this?
    Flex space - 2500 SF updated industrial condo with office and warehouse space.
    Where is this flex space located?
    The property is located at 14001 W Illinois Highway New Lenox, IL.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: Prime location in New Lenox with easy access to I‑80, I‑355, and I‑57.; Updated space with **approximately 1,400 SF of office space and 1,100 SF of heated and air‑conditioned warehouse space.**; **Warehouse features a 14 ft electric lift door and 16 ft clear height.**
    (815) 485-5050
    We can help!
    Listing Contact
    DEBBIE DEGROOT
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    14001 W Illinois Highway, New Lenox, IL 60451
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!