Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Aurora Warehouse Space Available Title is generated by Realmo AI

    1998 Melissa Ln, Aurora, IL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Sublease opportunity through June 30, 2025, in Aurora, Illinois.

    Type:INDUSTRIAL
    Property size:
    55,950 SF
    Lot size:
    9.52 Acres
    Added:
    Aug 14, 2025
    Days on Market:
    281
    Last Refresh:
    Apr 5 at 9:25 pm

    Property Features for 1998 Melissa Ln

    General Information

    Standard status
    Active
    Size
    55,950 SF
    Lot size
    9.52 Acres
    Property subtype
    INDUSTRIAL

    Spaces For Lease

    at 1998 Melissa Ln Contact us

    We can help!

    Listing Contact
    Michael Androwich Jr
    Michael Androwich Jr

    Listing agent Michael Androwich Jr

    Listing office Lee & Associates | Chicago

    Listing date Aug 14, 2025

    Source Moodyscre

    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 Lee & Associates | Chicago

    HighLights

    • Sublease term through June 30, 2025.

    Overview

    This warehouse space, located in Aurora, Illinois, offers a sublease opportunity through June 30, 2025. The property encompasses a total area of 55950 square feet and is suitable for warehouse and industrial purposes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    FlexXray Production Facility North Aurora REDI Warehouse & Storage EBY-BROWN Warehouse & Storage Coleman Self Storage ... Storage Facility

    Suggested Use

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

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

    Similar Places Nearby

    • Coleman Self Storage Facility — 1998 Melissa Ln, Aurora, IL 60506
    • Alpine Self Storage Unit — 1250 n orchard rd, aurora, il 60506
    • KRAFT FOODS — 2303 W Indian Trail, Aurora, IL 60506

    Location Insight

    • Map
    • Local Demand
    City
    Aurora
    County
    Kane
    State
    Illinois
    Longitude
    -88.3843
    Latitude
    41.7936

    Nearby Similar for Lease

    • $12 SF/Yr
      625 SF

      Downtown Aurora Commercial Space Available

      Recently renovated commercial space in downtown Aurora for lease.
      82-84 South Broadway, Aurora, IL 60505
      View Details
    • Contact for pricing

      Historic Retail Space in Aurora

      2,800 SF retail space in Aurora's Historic District.
      26 E Downer Place, Aurora, IL 60505
      View Details
    • Contact for pricing

      Downtown Aurora Commercial Space

      Renovated 2,000 sq ft retail/office space in downtown Aurora.
      26 N BROADWAY, Aurora, IL 60505
      View Details
    • Contact for pricing
      1,200 SF

      Aurora Retail/Office Space Available

      First floor retail/office space near downtown Aurora.
      311 N LOCUST Street, Aurora, IL 60506
      View Details
    • Contact for pricing

      Aurora Retail Space For Rent

      Highly visible retail space in Aurora, close to downtown.
      1147 E New York Street, Aurora, IL 60505
      View Details
    • $14 SF/Yr
      12,800 SF

      Prime Retail Space in Aurora

      Versatile retail space in downtown Aurora with river views.
      160 S River Street 112, Aurora, IL 60506
      View Details
    • Contact for pricing

      Aurora Commercial Space Available

      Commercial space for rent in Aurora, Illinois.
      2 Hankes Road, Aurora, IL 60506
      View Details
    • Contact for pricing

      Aurora Retail/Office Space Available

      Vacant storefront suitable for retail, daycare, office, or studio.
      1054 S 5th Street, Aurora, IL 60505
      View Details
    • $18 SF/Yr
      2,310 SF

      Medical/Office Space Near Hospital

      Single-story office building across from AMITA Health Mercy Hospital.
      581 Sullivan Road #B, Aurora, IL 60506
      View Details
    • Contact for pricing
      58,236 SF

      Aurora Multi-Tenant Facility For Lease

      58,236 SF multi-tenant facility with flexible spaces and ample parking.
      657 Wolverine Dr, Aurora, IL 60502
      View Details
    • $21 SF/Yr
      6,138 SF

      Aurora Office Space Available

      Office space for rent featuring reception and office areas.
      75 Executive Dr, Aurora, IL
      View Details
    • $14 SF/Yr
      74,300 SF

      Renovated Office Space Near Metra

      Office space with lake view, fully furnished and renovated in 2022.
      Aurora, IL 60504
      View Details

    FAQs

    What type of property is this?
    Warehouse - Sublease opportunity through June 30, 2025, in Aurora, Illinois.
    Where is this warehouse located?
    The property is located at 1998 Melissa Ln Aurora, IL.
    What are key features of this property?
    This property features: Sublease term through June 30, 2025.
    (708) 574-5516 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Michael Androwich Jr
    Michael Androwich Jr
    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
    1998 Melissa Ln, Aurora, IL
    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!