Free Standing Flex
For Sale
Contact for pricing
250 Chaddick Dr, Wheeling, IL 60090
15,695 SF flex building with office space for sale.
Property Size15,695 SF
Price / SF$107
Days on Market732
Property Features for 250 Chaddick Dr
General Information
Standard status
Active
Size
15,695 SF
Class
B
Total Parking Spaces
32
Property subtype
Industrial
Zoning
I1
Building Details
Year Built
1989
Listing Agency:
Entre Commercial Realty LLC
Listed By:
Brian Bocci, SIOR · License #IL 475151869
Source:
Crexi
Added: Oct 21, 2024
Changed: Oct 10
Last Checked: Oct 20 at 6:42PM
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 Entre Commercial Realty LLC
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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 15,695 square foot free-standing building includes 3,500 square feet of office space. The property can accommodate one or two tenants, as it is separately metered. A newer roof has been installed, and the office space has been remodeled. A 6B is in place until 2030, with the potential for renewal.
Key Highlights
- 15,695 SF Free Standing Building
- Includes 3,500 SF of Office space
- One or Two Tenant Building (Separately Metered)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,562
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,351,240
$1.4M
Cap Rate 7%
$965,171
$965.2K
Cap Rate 9%
$750,689
$750.7K
Market Conditions
NOI Build-Up for 15,695 SF
Gross rent
$101.7K $6.48/SF
− Vacancy
−$5.2K −$0.33/SF
EGI
$96.5K $6.15/SF
− OpEx
−$29.0K −$1.84/SF
NOI
$67.6K $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 Rate 5%
$1,351,240
Cap Rate 7%
$965,171
Cap Rate 9%
$750,689
Alternative Uses
Best Use
Flex RnD
$2.36M
$2.07M – $2.75M
NOI $165,268 @ 7.0% cap · market cap 9.75%
Second Best
Industrial
$965.2K
$844.5K – $1.13M
NOI $67,562 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$5.42M
$4.74M – $6.32M
NOI $379,314 @ 7.0% cap · market cap 22.38%
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
671
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60090, IL
39,017
Population
15,960
Households
2.4
Avg Household Size
39
Median Age
40%
College-Educated
88%
High-School Grad
9.0 sq mi
ZIP Area
4,335
Density / Sq Mi
$83,449
Median Household Income
$45,436
Median Earnings
$1,578
Median Rent
$243,500
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - 15,695 SF flex building with office space for sale.
Where is this flex space located?
The property is located at 250 Chaddick Dr Wheeling, IL.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: 15,695 SF Free Standing Building; Includes 3,500 SF of Office space; One or Two Tenant Building (Separately Metered)
