Industrial Warehouse with
1628-30 Rand Road Des Plaines, IL 60016
For Sale
$1,899,000
Renovated industrial warehouse with showroom, high traffic location.
Property Size15,336 SF
Lot Size1.00 Acre
Price / SF$123.83
Days on Market704
Property Features for 1628-30 Rand Road
General Information
Standard status
Active
Size
15,336 SF
Lot size
1.00 Acre
Property subtype
Commercial
Building Details
Year Built
1950
Listing Agency:
NOWEQUITY REAL ESTATE
(708) 598-1144
Listed By:
URSZULA TOPOLEWICZ · License #471002290
Source:
Corcoran
Added: Aug 26, 2024
Changed: Jul 6
Last Checked: Jul 30 at 6:45AM
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 NOWEQUITY REAL ESTATE
Investment Insights
Based on property information with market context.
This industrial warehouse, totaling 15336 square feet, presents an opportunity for two businesses, as the property has two addresses under one pin. The building features a showroom facing the main street. Situated on a 1-acre lot with C-3 zoning, the property boasts 300 feet of frontage on a high-profile corner, benefiting from an average daily traffic count of 32,000. Renovated in 2024, the building is in excellent condition, featuring newer commercial windows and doors. The warehouse includes a 14-foot ceiling height and three overhead doors. A new roof and skylights have been installed, along with new epoxy flooring and a new HVAC unit. Located minutes from O'Hare and with easy access to I-294, the property is at the heart of the intersection of Des Plaines, Rand, and River Rd. The building is subdivided into two potential business spaces, suitable for combining or operating separately. The current tenants include a trade contractor and a used car dealership, requiring 3 months' notice to move out. The intended use of the property is for industrial and commercial purposes.
Key Highlights
- High‑traffic location with 32,000 average daily traffic count and 300 ft. frontage on a high‑profile corner.
- Large 15,336 sq. ft. industrial warehouse on a 1‑acre lot, zoned C‑3, suitable for multiple businesses.
- Recently renovated in 2024 with new roof, skylights, epoxy flooring, HVAC unit, commercial windows and doors.
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $99.4k | $6.48 |
| − Vacancy | −$5.1k | −$0.33 |
| EGI | $94.3k | $6.15 |
| − OpEx | −$14.1k | −$0.92 |
| NOI | $80.2k | $5.23 |
15,336 SF · lease $6.48/SF/yr · vacancy 5.10% · expense 15.00%
Alternative Uses
Best Use
Retail
$3.04M
$2.66M – $3.55M
NOI $212,866 @ 7.0% cap · market cap 11.21%
Second Best
Warehouse
$1.15M
$1.00M – $1.34M
NOI $80,163 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$5.29M
$4.63M – $6.18M
NOI $370,638 @ 7.0% cap · market cap 19.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Public Storage — 1723 Busse Hwy, Des Plaines, IL 60016
- Self Storage — 1400 e golf rd, des plaines, il 60016
- Thompson's Storage facility — 1800 Busse Hwy, Des Plaines, IL 60016
- Metro Self Storage - Des Plaines — 1800 Busse Hwy, Des Plaines, IL 60016
Frequently Asked Questions
What type of property is this?
Warehouse - Renovated industrial warehouse with showroom, high traffic location.
Where is this warehouse located?
The property is located at 1628-30 Rand Road Des Plaines, IL.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: High‑traffic location with 32,000 average daily traffic count and 300 ft. frontage on a high‑profile corner.; Large 15,336 sq. ft. industrial warehouse on a 1‑acre lot, zoned C‑3, suitable for multiple businesses.; Recently renovated in 2024 with new roof, skylights, epoxy flooring, HVAC unit, commercial windows and doors.
