Industrial Property With Two
For Sale
$3,264,208
300 North Lake Street, Montgomery, IL 60538
Industrial offering comprising a primary facility and a separate secondary building.
Property Size26,600 SF
Price / SF$122.71
Days on Market90
Property Features for 300 North Lake Street
General Information
Standard status
Active
Size
26,600 SF
Property subtype
Industrial
Building Details
Buildings
2
Listing Agency:
CBRE | Chicago
(224) 938-5260
Listed By:
Dylan DeMaio
(224) 938-5260
Source:
Cbre
Added: Jun 2
Changed: Aug 29
Last Checked: Aug 29 at 11:41PM
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 CBRE | Chicago
Investment Insights
Based on property information with market context.
This industrial property includes two separate buildings totaling 26,600 square feet. The primary building contains 22,000 square feet, while the secondary structure adds 4,600 square feet of additional space.
The property is located at 300 North Lake Street in Montgomery, Illinois, within ZIP code 60538. The two-building configuration provides distinct structures for industrial operations, storage, or other supported commercial applications.
The property is located at 300 North Lake Street in Montgomery, Illinois, within ZIP code 60538. The two-building configuration provides distinct structures for industrial operations, storage, or other supported commercial applications.
Key Highlights
- 26,600 SF total property size
- 22,000 SF main building
- 4,600 SF secondary building
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
$114,504
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
3.51%
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%
$2,290,080
$2.3M
Cap Rate 7%
$1,635,771
$1.6M
Cap Rate 9%
$1,272,267
$1.3M
Market Conditions
NOI Build-Up for 26,600 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
$172.4K $6.48/SF
− Vacancy
−$8.8K −$0.33/SF
EGI
$163.6K $6.15/SF
− OpEx
−$49.1K −$1.84/SF
NOI
$114.5K $4.30/SF
Area
Kendall County, IL
Vacancy
5.10%
Lease Rate
$6.48 /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%
$2,290,080
Cap Rate 7%
$1,635,771
Cap Rate 9%
$1,272,267
Alternative Uses
Best Use
Industrial
$1.64M
$1.43M – $1.91M
NOI $114,504 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.18M
$8.04M – $10.71M
NOI $642,864 @ 7.0% cap · market cap 19.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
260
Businesses Nearby
Explore this area
Business Placement
Demographics for 60538, IL
28,898
Population
10,729
Households
2.7
Avg Household Size
34
Median Age
25%
College-Educated
90%
High-School Grad
9.7 sq mi
ZIP Area
2,979
Density / Sq Mi
$92,064
Median Household Income
$47,559
Median Earnings
$1,845
Median Rent
$253,900
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 property - Industrial offering comprising a primary facility and a separate secondary building.
Where is this industrial property located?
The property is located at 300 North Lake Street Montgomery, IL.
What is the asking price?
The asking price for this property is $3,264,208.
What are key features of this property?
This property features: 26,600 SF total property size; 22,000 SF main building; 4,600 SF secondary building
