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    I-57 Warehouse Space Available Title is generated by Realmo AI

    2649 N 900 E Road, Ashkum, IL 60911

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    COMMERCIAL - Ashkum, IL

    Property size:
    18,000 SF
    Lot size:
    2.63 Acres
    Added:
    May 8, 2026
    Days on Market:
    13
    Last Refresh:
    May 20 at 2:06 am

    Property Features for 2649 N 900 E Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Size
    18,000 SF
    Lot size
    2.63 Acres

    Utilities

    Utilities
    Water Available

    Building Details

    Year built
    1993
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Concrete
    Building materials
    Steel Siding
    Roof type
    Metal

    We can help!

    Listing Contact
    Craig Cardosi

    Listing agent Craig Cardosi License #475190336

    Listing office Keller Williams ONEChicago 2211 N Elston Ave STE 400, Chicago, IL

    Listing date May 8, 2026

    MLS# 12630232

    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.

    HighLights

    • Strategic location directly on I‑57 at Exit 293, with easy access to major interstates and cities.
    • 18,000 sq ft warehouse space available for lease with 19' eave and 25' peak.
    • 62' x 44' loading dock with auto leveler and three large doors.
    • Additional 15,000 sq ft building available with multiple doors and unloading docks.
    • New heater installed.
    • Durable construction with steel siding and metal roof.

    Overview

    Located directly off I-57 at Exit 293, this warehouse offers a strategic Midwest location. The property includes an 18,000-square-foot warehouse space, measuring 125 by 150 feet, with a 19-foot eave and a 25-foot peak. It features a 62-foot by 44-foot loading dock equipped with one auto leveler and three 22-foot by 14-foot doors. An additional connected building provides 15,000 square feet of leasable space, measuring 150x100 feet, and includes three large doors (18x14, 12x16, and 12x14 feet) along with four unloading docks. The property is situated on 2.63 acres. The location is 37 miles from I-55, 43 miles from I-65, 51 miles from I-80, 79 miles from Chicago, 59 miles from Champaign, and 139 miles from Indianapolis. The property has a new heater.
    Location Intelligence

    Current Use by Public Records

    Warehouses

    Map

    City
    Ashkum
    County
    Iroquois
    State
    Illinois
    Longitude
    -87.9811
    Latitude
    40.8847

    FAQs

    What type of property is this?
    Warehouse - Warehouse space for lease with convenient interstate access.
    Where is this warehouse located?
    The property is located at 2649 N 900 E Road Ashkum, IL.
    What are key features of this property?
    This property features: Strategic location directly on I‑57 at Exit 293, with easy access to major interstates and cities.; **18,000 sq ft warehouse space available for lease** with 19' eave and 25' peak.; **62' x 44' loading dock** with auto leveler and three large doors.
    (312) 216-2422
    We can help!
    Listing Contact
    Craig Cardosi
    Real Estate License ID: 475190336
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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