Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Lake Forest Warehouse Space Available Title is generated by Realmo AI

    28401 Ballard Dr, Lake Forest, IL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    5,750 SF warehouse space with dock door for lease.

    Type:INDUSTRIAL
    Property size:
    5,750 SF
    Lot size:
    7.26 Acres
    Added:
    Jun 30, 2025
    Days on Market:
    324
    Last Refresh:
    Apr 5 at 9:40 pm

    Property Features for 28401 Ballard Dr

    General Information

    Standard status
    Active
    Size
    5,750 SF
    Lot size
    7.26 Acres
    Property subtype
    INDUSTRIAL

    Spaces For Lease

    at 28401 Ballard Dr Contact us

    We can help!

    Listing Contact
    Brandon Waters

    Listing agent Brandon Waters

    Listing office KBC Advisors | Chicago

    Listing date Jun 30, 2025

    Source Moodyscre

    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 KBC Advisors | Chicago

    HighLights

    • 5,750 SF Available
    • Benefit from 18' clear height
    • Includes 1 Dock Door

    Overview

    This property offers 5,750 square feet of warehouse space. It features one dock door and an 18-foot clear height.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Building Supply Big Box & Wholesale Store Gym & Fitness Center Auto Parts Store Auto Repair Shop Pharmacy

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

    Similar Places Nearby

    • BGI America — 28457 Ballard Dr Ste F, Lake Forest, IL 60045
    • Extra Space Storage — 27944 Bradley Rd, Libertyville, IL 60048
    • Polo Storage — 13655 W Irma Lee court, Lake Forest, IL 60045
    • Self-Storage at U-Haul — 14045 W Rockland Rd, Libertyville, IL 60048
    • Material Systems Inc. — 13800 W Laurel Dr, Lake Forest, IL 60045

    Location Insight

    • Map
    • Local Demand
    City
    Lake Forest
    County
    Lake
    State
    Illinois
    Longitude
    -87.8983
    Latitude
    42.2755

    Nearby Similar for Lease

    • Sponsored
      $129-$5,166/Mo
      11-1,292 SF

      Landmark Conway Farms

      100 Saunders Rd, Unit 150, Lake Forest, IL 60045
      View Details
    • Contact for pricing

      Lake Forest Office Space Available

      Prime office location in Lake Forest's Central North submarket.
      920 South Waukegan Road, Lake Forest, Illinois 60015
      View Details
    • $18 SF/Yr
      1,722 SF

      Lake Forest Office/Retail Suites

      Suites available in downtown Lake Forest near Metra.
      1044-1060 N Western Ave , Lake Forest, IL
      View Details
    • Contact for pricing
      47,863 SF

      Lake Forest Retail/Office Space

      Class A retail/office space in affluent Lake Forest suburb.
      225 E Deerpath Road, Lake Forest, IL 60045
      View Details
    • Contact for pricing

      Renovated Retail/Office Space Available

      Newly renovated retail and office spaces near Lake Forest Metra.
      820 S Waukegan Rd, Lake Forest, Illinois 60045
      View Details
    • Contact for pricing
      775 SF

      Renovated Mixed-Use Building For Rent

      Newly renovated mixed-use building in a desirable North Shore suburb.
      1000 N Western Ave, Lake Forest, Illinois
      View Details
    • Contact for pricing
      4,262 SF

      Downtown Lake Forest Office Space

      Class B office space available in Downtown Lake Forest.
      191 E Deerpath Road, Lake Forest, Illinois 60045
      View Details
    • $36 SF/Yr
      960 SF

      Professional Office Suites For Rent

      Office suites available with on-site parking and internet included.
      222 E Wisconsin Ave, Lake Forest, IL
      View Details
    • Contact for pricing
      1,218 SF

      Storefront Retail Space For Rent

      1,218 RSF storefront retail with high visibility.
      840 S Waukegan Rd, Lake Forest, IL
      View Details
    • Contact for pricing
      1,809 SF

      Downtown Lake Forest Retail/Office Space

      Class A retail/office space in affluent Lake Forest, Illinois.
      225 E Deerpath Rd, Lake Forest, IL
      View Details
    • Contact for pricing
      775 SF

      Renovated Mixed-Use Building Available

      Newly renovated mixed-use building near Lake Forest Metra Station.
      1000-1042 N Western Ave, Lake Forest, IL
      View Details
    • $19 SF/Yr
      34,436 SF

      Lake Forest Office Space Available

      Office space for lease in Lake Forest, Illinois.
      1925 W Field Ct, Lake Forest, IL
      View Details

    FAQs

    What type of property is this?
    Warehouse - 5,750 SF warehouse space with dock door for lease.
    Where is this warehouse located?
    The property is located at 28401 Ballard Dr Lake Forest, IL.
    What are key features of this property?
    This property features: 5,750 SF Available; Benefit from 18' clear height; Includes 1 Dock Door
    (773) 453-7020 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Brandon Waters
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    28401 Ballard Dr, Lake Forest, IL
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!