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26336 Heritage Drive, Elwood, IL, 60421
Construction Equipment Showroom & Shop

26336 Heritage Drive Elwood, IL 60421

New
For Sale
$3,495,000

COMMERCIAL - Elwood, IL

Property Size10,985 SF
Lot Size3.29 Acres
Price / SF$318.16
Days on Market2

Property Features for 26336 Heritage Drive

General Information

Property type
Commercial Sale
Property subtype
Other
Zoning
PUD
Standard status
Active
APN
1011292060080000
Lot size
3.29 Acres

Taxes and HOA fees

Tax Year
2025
Tax Annual Amount
32502

Utilities

Cooling system
Other (Cooling), Central Air

Building Details

Year built
2024
Floors in Building
2
Number of units
1
Flooring type
Concrete
Building materials
Steel Siding, Wood, Brick Veneer
Roof type
Metal
Listing Agency: RE/MAX Ultimate Professionals
Listed By: Daniel Condon · License #475178004
Added: Jul 23 Last Checked: Jul 24 at 1:06PM
MLS# 12706689

Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.


Investment Insights

Based on property information with market context.

Completed in 2025, this purpose-built 10,985 SF construction equipment showroom and shop is situated on 3.29 acres with the possibility to expand to 5.45 acres. The building is designed for efficient sales and service operations, with a showroom that includes three private offices, a service counter, a customer waiting area, and two ADA-compliant restrooms. The shop features approximately 20-foot ceilings with 18-foot clear height, in-floor radiant heat, and 8-inch concrete floors. Additional improvements include a massive 23' x 70' wash bay with a Hotsy 3,000 PSI hot water pressure washer, a break room with kitchenette, a utility room, and a third ADA-compliant restroom.

The property is secured by a 6-foot perimeter fence with oversized 40-foot aluminum gates and offers approximately 2.17 +/- acres of paved, concrete, and gravel yard space for equipment and commercial vehicles. Zoning is described as a special use PUD approved by the Village of Elwood under a C-2 General Commercial framework, with approvals tied to the sale and lease of small and mid-sized construction equipment and machinery with limited repairs, along with other compatible uses under a special use permit. The facility is equipped with fire sprinklers, monitored fire alarm, security camera and alarm systems, 208V 400-amp three-phase power, triple trap basins, and Starlink internet. Access includes one 14' x 14' overhead door with opener, three 16' x 16' overhead doors with opener, and one 10' x 9' showroom overhead door, and the site is positioned along a corridor with approximately 6,100 average annual daily traffic (AADT).

Key Highlights

  • 10,985 SF Lester Building completed in 2025 on 3.29 acres, with possibility to expand to 5.45 acres
  • C‑2 General Commercial zoning with special use PUD zoning with the Village of Elwood for small/mid‑sized construction equipment sales and limited repairs
  • Shop includes in‑floor radiant heat, 20' ceilings with 18' clear height, and 8" concrete floors plus a 23' x 70' wash bay with Hotsy 3,000 PSI washer

Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $164.8k $15.00
− Vacancy −$16.5k −$1.50
EGI $148.3k $13.50
− OpEx −$44.5k −$4.05
NOI $103.8k $9.45
10,985 SF · lease $15.00/SF/yr · vacancy 10.00% · expense 30.00%

Alternative Uses

Best Use
Retail
$1.48M
$1.30M – $1.73M (±1% cap)
NOI $103,808 @ 7.0% cap · market cap 2.97%
Second Best
Flex RnD
$738.4K
$646.1K – $861.5K (±1% cap)
NOI $51,687 @ 7.0% cap · market cap 1.48%
Theoretical Best
Office A
$2.49M
$2.18M – $2.91M (±1% cap)
NOI $174,398 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Flex space

Suggested Use

HVAC Service Big Box & Wholesale Store Bakery Law Firm Daycare Center (Bike/Boat/Book/etc) Store Arcade & Gaming Center Electronics & Wireless Store

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

FAQs

What type of property is this?
Flex space - Nearly new 10,985 SF facility with showroom offices, heated shop, wash bay, and multiple overhead doors on fenced yard.
Where is this flex space located?
The property is located at 26336 Heritage Drive Elwood, IL.
What is the asking price?
The asking price for this property is $3,495,000.
What are key features of this property?
This property features: 10,985 SF Lester Building completed in 2025 on 3.29 acres, with possibility to expand to 5.45 acres; C‑2 General Commercial zoning with special use PUD zoning with the Village of Elwood for small/mid‑sized construction equipment sales and limited repairs; Shop includes in‑floor radiant heat, 20' ceilings with 18' clear height, and 8" concrete floors plus a 23' x 70' wash bay with Hotsy 3,000 PSI washer
More about this property
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