Office-Warehouse with Overhead
For Sale
Contact for pricing
14052 W Petronella Dr, Libertyville, IL 60048
Freshly built-out office-warehouse includes office improvements and a 1020 overhead loading door.
Property Size2,622 SF
Price / SF$152.17
Days on Market101
Property Features for 14052 W Petronella Dr
General Information
Standard status
Active
Size
2,622 SF
Class
B
Property subtype
Office, Industrial
Zoning
L1-Light Industrial
Lease Type
Modified Gross
Investment Type
Owner/User
Building Details
Year Built
1980
Stories
1
Tenancy
Single
Listing Agency:
JC Forney Realty Inc
Listed By:
Kenneth Eichelberger · License #IL #475114223
(847) 362-2000
Source:
Crexi
Added: May 28
Changed: Sep 4
Last Checked: Sep 3 at 7:01AM
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 JC Forney Realty Inc
Investment Insights
Based on property information with market context.
This office-warehouse features a concrete block/brick construction and includes both office and warehouse space. The office area is built out with three private areas, a large open office with two skylights, and a conference room. Updates include a modern kitchen with new built-ins, a washroom with shower, and a washer and dryer in the warehouse. For comfort and operations, the property has gas forced-air HVAC with AC for the office area, along with updated new mechanicals.
The warehouse provides 142828 ceiling height (clear) and a 1020 overhead door for loading access. The power supply is listed at 200 amps, and parking is available as common non-assigned spaces.
The office area totals 1,660 square feet, with 962 square feet allocated to the warehouse portion, for an overall unit size of 2,622 square feet. The lot is listed as 200200.
Operating cost items referenced include taxes of $2.13 per square foot and CAM of $2.94 per square foot.
The warehouse provides 142828 ceiling height (clear) and a 1020 overhead door for loading access. The power supply is listed at 200 amps, and parking is available as common non-assigned spaces.
The office area totals 1,660 square feet, with 962 square feet allocated to the warehouse portion, for an overall unit size of 2,622 square feet. The lot is listed as 200200.
Operating cost items referenced include taxes of $2.13 per square foot and CAM of $2.94 per square foot.
Key Highlights
- 2,622 SF office‑warehouse on a 200’ x 200’ lot with 1,660 SF office and 962 SF warehouse space
- Warehouse loading features a 10’ x 10’ overhead door
- 14’ clear warehouse ceiling height
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
$36,153
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
9.06%
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%
$723,060
$723.1K
Cap Rate 7%
$516,471
$516.5K
Cap Rate 9%
$401,700
$401.7K
Market Conditions
NOI Build-Up for 2,622 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
$64.2K $24.48/SF
− Vacancy
−$16.0K −$6.10/SF
EGI
$48.2K $18.38/SF
− OpEx
−$12.1K −$4.60/SF
NOI
$36.2K $13.79/SF
Area
Lake County, IL
Vacancy
24.90%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
25.00%
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%
$723,060
Cap Rate 7%
$516,471
Cap Rate 9%
$401,700
Alternative Uses
Best Use
Office B
$516.5K
$451.9K – $602.6K
NOI $36,153 @ 7.0% cap · market cap 9.06%
Second Best
Flex RnD
$218.8K
$191.5K – $255.3K
NOI $15,317 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$905.3K
$792.1K – $1.06M
NOI $63,368 @ 7.0% cap · market cap 15.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
419
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60048, IL
29,353
Population
10,826
Households
2.7
Avg Household Size
44
Median Age
71%
College-Educated
98%
High-School Grad
28.4 sq mi
ZIP Area
1,034
Density / Sq Mi
$169,283
Median Household Income
$83,333
Median Earnings
$1,569
Median Rent
$535,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Freshly built-out office-warehouse includes office improvements and a 1020 overhead loading door.
Where is this flex space located?
The property is located at 14052 W Petronella Dr Libertyville, IL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2,622 SF office‑warehouse on a 200’ x 200’ lot with 1,660 SF office and 962 SF warehouse space; Warehouse loading features a 10’ x 10’ overhead door; 14’ clear warehouse ceiling height
