Add Listing
    For Lease
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2401-2405 W Haven Ave New Lenox, IL

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

    53,395 SF warehouse space available for lease.

    Type:INDUSTRIAL
    Property size:
    53,395 SF
    Lot size:
    9.40 Acres
    Added:
    Sep 16, 2024
    Days on Market:
    592
    Last Refresh:
    Apr 5 at 9:10 pm

    Property Features for 2401-2405 W Haven Ave

    General Information

    Standard status
    Active
    Size
    53,395 SF
    Lot size
    9.40 Acres
    Property subtype
    INDUSTRIAL

    Spaces For Lease

    at 2401-2405 W Haven Ave Contact us

    We can help!

    Listing Contact
    Joshua Hearne, SIOR

    Listing agent Joshua Hearne, SIOR

    Listing office Cawley Chicago

    Listing date Sep 16, 2024

    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 Cawley Chicago

    Overview

    New Lenox Warehouse Space

    This property offers approximately 53,395 square feet of available space, including about 2,500 square feet of office area. The total area of the property is approximately 171,394 square feet, situated on roughly 9.38 acres. The warehouse features a 32-foot clear height and one drive-in overhead door. There are four exterior docks, with the potential to expand to eight. Parking is available with 125 stalls, and there is potential for expansion. The property includes four trailer stalls, with plans to add 16 more. It is equipped with an ESFR sprinkler system. The lease rate is $8.50 per square foot net, with an expiration date of July 31, 2031. The property is AIB compliant and features floor drains, sealed floors, caulked floor joints, and advanced air rotation and make-up units. It is under private ownership.
    Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Pharmacy Gym & Fitness Center Auto Parts Store

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

    Similar Places Nearby

    • Near Perfect Self Storage Units - New Lenox IL — 302 W Maple St, New Lenox, IL 60451

    Location Insight

    • Map
    • Local Demand
    City
    New Lenox
    County
    Will
    State
    Illinois
    Longitude
    -88.0092
    Latitude
    41.5119

    Nearby Similar for Lease

    • Contact for pricing

      Office Space with Attached Garage

      Office space with attached 2.5 car garage in New Lenox.
      12410 W Horseshoe Drive, New Lenox, IL 60451
      View Details
    • Contact for pricing

      Prime Office Space Available

      Affordable office spaces in high-traffic New Lenox location.
      1333 S Schoolhouse Road, New Lenox, IL 60451
      View Details
    • Contact for pricing

      Commercial Space in New Lenox

      Commercial property available for rent in New Lenox, Illinois.
      1333 S Schoolhouse Road, New Lenox, IL 60451
      View Details
    • Contact for pricing

      New Lenox Warehouse Units Available

      Warehouse units for lease in New Lenox, Illinois.
      21757 S Center Avenue, New Lenox, IL 60451
      View Details
    • Contact for pricing

      Updated Industrial Condo in New Lenox

      2500 SF updated industrial condo with office and warehouse space.
      14001 W Illinois Highway, New Lenox, IL 60451
      View Details
    • $15 SF/Yr

      Medical Office Space Available

      6,310 SF medical office with 12 exam rooms.
      180-196 W. Illinois Highway, New Lenox, IL 60451
      View Details
    • Contact for pricing

      New Lenox Warehouse Spaces Available

      Warehouse units for lease in New Lenox, Illinois.
      21753 S Center Avenue, New Lenox, IL 60451
      View Details
    • Contact for pricing

      New Lenox Warehouse Units Available

      Warehouse units for lease in New Lenox, Illinois.
      21755 S Center Avenue, New Lenox, IL 60451
      View Details
    • Contact for pricing

      New Lenox Warehouse Space Available

      Warehouse units for lease in New Lenox, Illinois.
      21751 S Center Avenue, New Lenox, IL 60451
      View Details
    • Contact for pricing

      Retail/Office Space on Route 30

      Retail or office space with high visibility and accessibility.
      227 W Maple Street #B, New Lenox, IL 60451
      View Details
    • Contact for pricing

      Professional Office Space for Rent

      1000 sq ft office space with open area.
      1234 N Cedar Road #A, New Lenox, IL 60451
      View Details
    • Contact for pricing

      Retail Space in High-Traffic Area

      Retail space for rent in a high-traffic location.
      317 W Maple Street #317, New Lenox, IL 60451
      View Details

    FAQs

    What type of property is this?
    Warehouse - 53,395 SF warehouse space available for lease.
    Where is this warehouse located?
    The property is located at 2401-2405 W Haven Ave New Lenox, IL.
    What is the lease rate?
    The lease rate is $8 SF/Yr.
    What are key features of this property?
    This property features: Large Available Space: ± 53,395 Sq. Ft.; High Clear Height: 32’; Expandable Dock Capacity: 4 Exterior Docks (expandable to 8)
    (815) 302-5488 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Joshua Hearne, SIOR
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!