Industrial Building with Outdoor
For Sale
Contact for pricing
2425 Pan Am Boulevard, Elk Grove Village, IL 60007
Industrial building offering outdoor storage, 15-foot clear heights, and office space for contractor and auto-repair operations.
Property Size6,000 SF
Price / SF$383.33
Days on Market64
Property Features for 2425 Pan Am Boulevard
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Industrial
Warehouse & Industrial
Clear Height
15 ft
Drive-In Doors
1
Building Details
Year Built
1970
Listing Agency:
GC Realty and Development
(630) 674-6989
Listed By:
Brad Bullington · License #IL 475.134976
Source:
Crexi
Added: Jun 6
Changed: Jul 10
Last Checked: Aug 7 at 8:24AM
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 GC Realty and Development
Investment Insights
Based on property information with market context.
This 6,000 SF industrial building includes approximately 1,500 SF of office space and clear ceiling heights of 15 feet. The property is supported by outdoor storage areas designed to accommodate equipment and materials. Loading is served by one drive-in door for loading and access, with room to add additional doors if needed.
The building is located at 2425 Pan Am Boulevard in Elk Grove Village, IL. Access is configured for industrial use with drive-in loading and an arrangement that supports both vehicle and contractor workflows.
The layout is well suited for contractors, trucking operations, and auto repair users that need functional warehouse space alongside outdoor storage. With office space on-site, the property can support day-to-day administration while keeping work areas efficient for operations that require loading flexibility. The ability to add additional loading doors may further support scaling or changing operational needs.
The building is located at 2425 Pan Am Boulevard in Elk Grove Village, IL. Access is configured for industrial use with drive-in loading and an arrangement that supports both vehicle and contractor workflows.
The layout is well suited for contractors, trucking operations, and auto repair users that need functional warehouse space alongside outdoor storage. With office space on-site, the property can support day-to-day administration while keeping work areas efficient for operations that require loading flexibility. The ability to add additional loading doors may further support scaling or changing operational needs.
Key Highlights
- 6,000 SF industrial building with outdoor storage
- Approximately 1,500 SF office space
- 15 ft clear ceiling heights in the warehouse area
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
$83,281
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
3.62%
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%
$1,665,620
$1.7M
Cap Rate 7%
$1,189,729
$1.2M
Cap Rate 9%
$925,344
$925.3K
Market Conditions
NOI Build-Up for 6,000 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
$129.6K $21.60/SF
− Vacancy
−$10.6K −$1.77/SF
EGI
$119.0K $19.83/SF
− OpEx
−$35.7K −$5.95/SF
NOI
$83.3K $13.88/SF
Area
Cook 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%
$1,665,620
Cap Rate 7%
$1,189,729
Cap Rate 9%
$925,344
Alternative Uses
Best Use
Retail
$1.19M
$1.04M – $1.39M
NOI $83,281 @ 7.0% cap · market cap 3.62%
Second Best
Office B
$1.18M
$1.03M – $1.38M
NOI $82,730 @ 7.0% cap · market cap 3.60%
Theoretical Best
Office A
$2.07M
$1.81M – $2.42M
NOI $145,007 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
641
Businesses Nearby
Well-served
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial building offering outdoor storage, 15-foot clear heights, and office space for contractor and auto-repair operations.
Where is this warehouse located?
The property is located at 2425 Pan Am Boulevard Elk Grove Village, IL.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 6,000 SF industrial building with outdoor storage; Approximately 1,500 SF office space; 15 ft clear ceiling heights in the warehouse area
