Commercial Building on 2.3
For Sale
Contact for pricing
2040 W Roosevelt Rd, West Chicago, IL
Free-standing commercial building with manufacturing zoning and special use permit.
Property Size4,250 SF
Lot Size450.86 Acres
Price / SF$447.06
Days on Market289
Property Features for 2040 W Roosevelt Rd
General Information
Standard status
Active
Size
4,250 SF
Lot size
450.86 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Morken & Associates
(630) 567-7800
Listed By:
Steve Morken
Source:
Moodyscre
Added: Nov 14, 2025
Changed: Aug 12
Last Checked: Aug 29 at 1:38PM
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 Morken & Associates
Investment Insights
Based on property information with market context.
This property features a free-standing commercial building situated on a 2.3-acre site. It is zoned M - Manufacturing and has a special use permit for a landscaping business. The property includes two buildings: a front office sales office with two drive-in doors and a floor drain, and a rear building suitable for shop or repair purposes with three drive-in doors. The building size is 4,250 square feet.
Key Highlights
- 2. 3 Acre Site
- Zoned M - Manufacturing - with Special Use Permit for Landscaping Business
- Free‑Standing Commercial Building
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
$58,991
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
3.10%
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%
$1,179,820
$1.2M
Cap Rate 7%
$842,729
$842.7K
Cap Rate 9%
$655,456
$655.5K
Market Conditions
NOI Build-Up for 4,250 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
$91.8K $21.60/SF
− Vacancy
−$7.5K −$1.77/SF
EGI
$84.3K $19.83/SF
− OpEx
−$25.3K −$5.95/SF
NOI
$59.0K $13.88/SF
Area
DuPage County, IL
Vacancy
8.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,179,820
Cap Rate 7%
$842,729
Cap Rate 9%
$655,456
Alternative Uses
Best Use
Retail
$842.7K
$737.4K – $983.2K
NOI $58,991 @ 7.0% cap · market cap 3.10%
Second Best
Industrial
$261.4K
$228.7K – $304.9K
NOI $18,295 @ 7.0% cap · market cap 0.96%
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,713 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
71
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Free-standing commercial building with manufacturing zoning and special use permit.
Where is this manufacturing property located?
The property is located at 2040 W Roosevelt Rd West Chicago, IL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 2. 3 Acre Site; Zoned M - Manufacturing - with Special Use Permit for Landscaping Business; Free‑Standing Commercial Building
