Industrial Land With Existing
For Sale
$1,200,000
25400 S LaGrange Road, Monee, IL 60449
Unincorporated acreage includes a farmhouse, garage, and metal barn with access to I-57 and I-80.
Property Size5,600 SF
Days on Market9
Property Features for 25400 S LaGrange Road
General Information
Standard status
Active
Size
5,600 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,963
Building Details
Building Size
5,600 SF
Year Built
1945
Stories
2
Units
1
Listing Agency:
Baird & Warner
(708) 460-1400
Listed By:
Michael Galvan · License #471021529
(708) 460-1400
Source:
Ozmentrealestate
Added: Aug 12
Changed: Aug 15
Last Checked: Aug 19 at 2:13PM
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 Baird & Warner
Investment Insights
Based on property information with market context.
This industrial land offering spans over 10.6 acres in unincorporated Will County and includes a large farmhouse, a garage, and a metal barn. The existing improvements date to 1945, while the primary value is associated with the land and its development potential.
Located at 25400 S LaGrange Road in Monee, the property provides access to I-57 and I-80. The site is presented for consideration of industrial applications such as truck repair with parking, industrial condominiums, and warehousing. Any proposed use should be evaluated through the applicable approval process.
Located at 25400 S LaGrange Road in Monee, the property provides access to I-57 and I-80. The site is presented for consideration of industrial applications such as truck repair with parking, industrial condominiums, and warehousing. Any proposed use should be evaluated through the applicable approval process.
Key Highlights
- Over 10.6 acres of industrial land in unincorporated Will County
- Existing large farmhouse, garage, and metal barn
- Access to I‑57 and I‑80
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
$52,920
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
4.41%
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%
$1,058,400
$1.1M
Cap Rate 7%
$756,000
$756.0K
Cap Rate 9%
$588,000
$588.0K
Market Conditions
NOI Build-Up for 5,600 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
$84.0K $15.00/SF
− Vacancy
−$8.4K −$1.50/SF
EGI
$75.6K $13.50/SF
− OpEx
−$22.7K −$4.05/SF
NOI
$52.9K $9.45/SF
Area
Will County, IL
Vacancy
10.00%
Lease Rate
$15.00 /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%
$1,058,400
Cap Rate 7%
$756,000
Cap Rate 9%
$588,000
Alternative Uses
Best Use
Retail
$756.0K
$661.5K – $882.0K
NOI $52,920 @ 7.0% cap · market cap 4.41%
Second Best
Industrial
$344.4K
$301.3K – $401.8K
NOI $24,106 @ 7.0% cap · market cap 2.01%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,906 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Explore this area
Business Placement
Demographics for 60449, IL
8,961
Population
3,752
Households
2.4
Avg Household Size
45
Median Age
31%
College-Educated
92%
High-School Grad
49.2 sq mi
ZIP Area
182
Density / Sq Mi
$101,563
Median Household Income
$60,924
Median Earnings
$269,900
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 land - Unincorporated acreage includes a farmhouse, garage, and metal barn with access to I-57 and I-80.
Where is this industrial land located?
The property is located at 25400 S LaGrange Road Monee, IL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Over 10.6 acres of industrial land in unincorporated Will County; Existing large farmhouse, garage, and metal barn; Access to I‑57 and I‑80
