Building Details

Building Size 2,500 SF

Listing Agency: Berkshire Hathaway HomeServices Starck Real Estate

Listed By: Jack Minero · License #IL Show Phone

Source: Crexi

Added: Sep 1 Changed: Sep 4 Last Checked: Sep 7 at 8:38AM

Report an Issue

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 Berkshire Hathaway HomeServices Starck Real Estate

Investment Insights

Based on property information with market context.

This 2,500-square-foot warehouse occupies 1.3 acres along Wonder Lake Road in Wonder Lake, Illinois. The building has 15-foot ceilings and two 10 x 10 overhead doors, providing functional features for warehouse and distribution operations. The property is currently used by a landscaping business.

Multiple ingress and egress points support site access. Utilities include a well, septic systems, natural gas, and electric service. The property address is 2803 E Wonder Lake Road, Wonder Lake, IL 60097.

Key Highlights

• 2,500‑square‑foot warehouse on 1.3 acres
• 15‑foot ceiling height
• Two 10 x 10 overhead doors

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

$13,068

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

3.31%

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%

$261,360 $261.4K

Cap Rate 7%

$186,686 $186.7K

Cap Rate 9%

$145,200 $145.2K

Market Conditions

NOI Build-Up for 2,500 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

$16.2K $6.48/SF

− Vacancy

−$826 −$0.33/SF

EGI

$15.4K $6.15/SF

− OpEx

−$2.3K −$0.92/SF

NOI

$13.1K $5.23/SF

Area

McHenry 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%

$261,360

Cap Rate 7%

$186,686

Cap Rate 9%

$145,200

Alternative Uses

Best Use

Warehouse

$186.7K

$163.4K – $217.8K (±1% cap)

NOI $13,068 @ 7.0% cap · market cap 3.31%

Second Best

Industrial

$153.7K

$134.5K – $179.4K (±1% cap)

NOI $10,762 @ 7.0% cap · market cap 2.72%

Theoretical Best

Office A

$863.1K

$755.3K – $1.01M (±1% cap)

NOI $60,420 @ 7.0% cap · market cap 15.30%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Distribution centers

Suggested Use

Top Pick Auto Repair Shop Building Supply Kitchen & Bath Showroom Garden Center Gym & Fitness Center Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

15 ft

Clear height

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

37

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 60097, IL

10,849

Population

4,446

Households

2.4

Avg Household Size

40

Median Age

17%

College-Educated

93%

High-School Grad

16.0 sq mi

ZIP Area

678

Density / Sq Mi

$90,865

Median Household Income

$48,168

Median Earnings

$1,369

Median Rent

$215,700

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Two-Story Office Building

7165 Barnard Mill Road, Wonder Lake, IL 60097

$199,000

0.55 Acres

View details

Freestanding Pizza Restaurant Property

7613 Howe Rd, Wonder Lake, IL 60097

Contact for pricing

2,800 SF

View details

Medical Office Building with Exam Rooms

5323 East Wonder Lake Road, Wonder Lake, IL 60097

Contact for pricing

View details

Frequently Asked Questions

What type of property is this?

Warehouse - Industrial site with multiple access points and well, septic, natural gas, and electric utilities.

Where is this warehouse located?

The property is located at 2803 E Wonder Lake Road Wonder Lake, IL.

What is the asking price?

The asking price for this property is $395,000.

What are key features of this property?

This property features: 2,500‑square‑foot warehouse on 1.3 acres; 15‑foot ceiling height; Two 10 x 10 overhead doors