Truck Terminal with Maintenance
For Sale
$2,650,000
2314 North River Road, River Grove, IL 60171
14,500 SF truck terminal with maintenance pit and office.
Property Size14,500 SF
Lot Size1.70 Acres
Price / SF$182.76
Days on Market185
Property Features for 2314 North River Road
General Information
Standard status
Active
Size
14,500 SF
Lot size
1.70 Acres
Property subtype
Industrial
Listing Agency:
CBRE | Chicago
Listed By:
Jason Lev
(847) 706-4044
Source:
Cbre
Added: Apr 15
Changed: Oct 10
Last Checked: Oct 16 at 6:03AM
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 CBRE | Chicago
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 14,500 square foot property includes 4,125 square feet of office space and sits on 1.7 acres. The building features clear spans and a maintenance pit suitable for truck maintenance. Loading is facilitated by 2 exterior dock doors and 3 drive-in doors. There are 15 car parking stalls and 15 cab/trailer stalls. The property is lit with LED lighting and has high-end office finishes. The clear height ranges from 14 to 22 feet. This property is eligible for a 6B tax incentive.
Key Highlights
- 6B Tax Incentive Eligible
- Benefit from a pit for truck maintenance
- Clear span shop area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,793
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,515,860
$1.5M
Cap Rate 7%
$1,082,757
$1.1M
Cap Rate 9%
$842,144
$842.1K
Market Conditions
NOI Build-Up for 14,500 SF
Gross rent
$94.0K $6.48/SF
− Vacancy
−$4.8K −$0.33/SF
EGI
$89.2K $6.15/SF
− OpEx
−$13.4K −$0.92/SF
NOI
$75.8K $5.23/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,515,860
Cap Rate 7%
$1,082,757
Cap Rate 9%
$842,144
Alternative Uses
Best Use
Warehouse
$1.08M
$947.4K – $1.26M
NOI $75,793 @ 7.0% cap · market cap 2.86%
Second Best
Industrial
$891.7K
$780.2K – $1.04M
NOI $62,418 @ 7.0% cap · market cap 2.36%
Theoretical Best
Office A
$5.01M
$4.38M – $5.84M
NOI $350,433 @ 7.0% cap · market cap 13.22%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
586
Businesses Nearby
Explore this area
Business Placement
Demographics for 60171, IL
10,612
Population
4,456
Households
2.4
Avg Household Size
40
Median Age
26%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
4,614
Density / Sq Mi
$74,793
Median Household Income
$43,696
Median Earnings
$1,230
Median Rent
$244,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Truck terminal - 14,500 SF truck terminal with maintenance pit and office.
Where is this truck terminal located?
The property is located at 2314 North River Road River Grove, IL.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: 6B Tax Incentive Eligible; Benefit from a pit for truck maintenance; Clear span shop area
