Industrial
For Sale
Contact for pricing
250 S Hicks Road, Palatine, IL 60067
Large-scale industrial facility suited to warehouse and related commercial operations.
Property Size67,492 SF
Price / SF$84.97
Days on Market185
Property Features for 250 S Hicks Road
General Information
Standard status
Active
Size
67,492 SF
Total Parking Spaces
75
Property subtype
Industrial
Building Details
Building Size
67,492 SF
Listing Agency:
Lee & Associates - Chicago
Listed By:
Todd Hendricks · License #IL
(847) 912-2739
Source:
Crexi
Added: Mar 5
Changed: Sep 4
Last Checked: Sep 5 at 5:54PM
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 Lee & Associates - Chicago
Investment Insights
Based on property information with market context.
This industrial property contains 67,492 square feet of space and is located at 250 S. Hicks Road in Palatine, Illinois. The asset is classified within the industrial and warehouse property categories and is offered for sale.
Key Highlights
- 67,492 square feet of industrial space
- Located at 250 S. Hicks Road, Palatine, IL 60067
- Classified as an industrial and warehouse property
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
$352,787
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
6.15%
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%
$7,055,740
$7.1M
Cap Rate 7%
$5,039,814
$5.0M
Cap Rate 9%
$3,919,856
$3.9M
Market Conditions
NOI Build-Up for 67,492 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
$437.3K $6.48/SF
− Vacancy
−$22.3K −$0.33/SF
EGI
$415.0K $6.15/SF
− OpEx
−$62.3K −$0.92/SF
NOI
$352.8K $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 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%
$7,055,740
Cap Rate 7%
$5,039,814
Cap Rate 9%
$3,919,856
Alternative Uses
Best Use
Warehouse
$5.04M
$4.41M – $5.88M
NOI $352,787 @ 7.0% cap · market cap 6.15%
Second Best
Industrial
$4.15M
$3.63M – $4.84M
NOI $290,530 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$23.30M
$20.39M – $27.19M
NOI $1,631,134 @ 7.0% cap · market cap 28.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
984
Businesses Nearby
Explore this area
Business Placement
Demographics for 60067, IL
39,324
Population
16,039
Households
2.5
Avg Household Size
43
Median Age
59%
College-Educated
96%
High-School Grad
13.0 sq mi
ZIP Area
3,025
Density / Sq Mi
$121,572
Median Household Income
$64,520
Median Earnings
$1,521
Median Rent
$427,900
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?
Industrial property - Large-scale industrial facility suited to warehouse and related commercial operations.
Where is this industrial property located?
The property is located at 250 S Hicks Road Palatine, IL.
What is the asking price?
The asking price for this property is $5,735,000.
What are key features of this property?
This property features: 67,492 square feet of industrial space; Located at 250 S. Hicks Road, Palatine, IL 60067; Classified as an industrial and warehouse property
