Industrial Building with Office
For Sale
Contact for pricing
221 Lively Blvd, Elk Grove Village, IL 60007
Free-standing building with warehouse and office space for sale.
Property Size8,000 SF
Price / SF$104
Days on Market173
Property Features for 221 Lively Blvd
General Information
Standard status
Active
Size
8,000 SF
Property subtype
Industrial
Building Details
Year Built
1970
Listing Agency:
Brown Commercial Group Inc
(847) 758-9200
Listed By:
Candace Scurto · License #IL
Source:
Crexi
Added: Feb 26
Changed: Aug 17
Last Checked: Aug 17 at 2:05PM
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 Brown Commercial Group Inc
Investment Insights
Based on property information with market context.
This free-standing building features 10 to 14-foot clear ceilings, one drive-in door, and a hydraulic lift. The property includes ample office space, a 2,000-square-foot production area, and a 4,000-square-foot warehouse. It is located in an established industrial park, providing convenient access to major transportation routes via Route 72, Route 83, and I-90. The property's total size is 8,000 square feet.
Key Highlights
- Free‑standing building with 4000 sf warehouse and 2000 sf production area
- Established industrial park location with easy access to Rt. 72, Rt. 83, and I‑90
- 10‑14' clear ceilings suitable for various industrial uses
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
$34,437
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
4.14%
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%
$688,740
$688.7K
Cap Rate 7%
$491,957
$492.0K
Cap Rate 9%
$382,633
$382.6K
Market Conditions
NOI Build-Up for 8,000 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
$51.8K $6.48/SF
− Vacancy
−$2.6K −$0.33/SF
EGI
$49.2K $6.15/SF
− OpEx
−$14.8K −$1.84/SF
NOI
$34.4K $4.30/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /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%
$688,740
Cap Rate 7%
$491,957
Cap Rate 9%
$382,633
Alternative Uses
Best Use
Flex RnD
$1.20M
$1.05M – $1.40M
NOI $84,240 @ 7.0% cap · market cap 10.13%
Second Best
Industrial
$492.0K
$430.5K – $574.0K
NOI $34,437 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$2.76M
$2.42M – $3.22M
NOI $193,342 @ 7.0% cap · market cap 23.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
742
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60007, IL
33,670
Population
13,580
Households
2.5
Avg Household Size
45
Median Age
41%
College-Educated
92%
High-School Grad
18.1 sq mi
ZIP Area
1,860
Density / Sq Mi
$95,240
Median Household Income
$54,762
Median Earnings
$1,574
Median Rent
$334,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Free-standing building with warehouse and office space for sale.
Where is this flex space located?
The property is located at 221 Lively Blvd Elk Grove Village, IL.
What is the asking price?
The asking price for this property is $832,000.
What are key features of this property?
This property features: Free‑standing building with **4000 sf warehouse and 2000 sf production area**; Established industrial park location with easy access to Rt. 72, Rt. 83, and I‑90; 10‑14' clear ceilings suitable for various industrial uses
