Light Industrial
New
For Sale
$5,500,000
3048-3090 North Lake Terrace, Glenview, IL 60026
M1-2-zoned industrial property with multiple buildings, tenant parking, signage, and highway access in Glenview’s north suburban market.
Property Size84,825 SF
Price / SF$64.84
Days on Market2
Property Features for 3048-3090 North Lake Terrace
General Information
Standard status
Active
Size
84,825 SF
Property subtype
Industrial
Zoning
M1-2
Occupancy
100%
Building Details
Building Size
84,825 SF
Units
5
Listing Agency:
COLDWELL BANKER REALTY
(312) 988-9070
Listed By:
Sheryl Fisher · License #475168539
(312) 988-9070
Source:
Cbcworldwide
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 12:34PM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This light industrial complex comprises 84,825 square feet across more than 4 acres at 3048-3090 North Lake Terrace. The property is zoned M1-2 and includes adequate tenant parking and site signage. The complex is fully leased, with upcoming space that may accommodate an owner-user while maintaining existing occupancy.
The site is located in Glenview’s north suburban market, adjacent to The Glen and near the intersection of Willow Road and Lake Avenue. Highway access supports connections throughout the surrounding area.
The site is located in Glenview’s north suburban market, adjacent to The Glen and near the intersection of Willow Road and Lake Avenue. Highway access supports connections throughout the surrounding area.
Key Highlights
- 84,825 SF light industrial complex on more than 4 acres
- M1‑2 zoning
- Fully leased with upcoming space for an owner‑user
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
$365,143
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
6.64%
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%
$7,302,860
$7.3M
Cap Rate 7%
$5,216,329
$5.2M
Cap Rate 9%
$4,057,144
$4.1M
Market Conditions
NOI Build-Up for 84,825 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
$549.7K $6.48/SF
− Vacancy
−$28.0K −$0.33/SF
EGI
$521.6K $6.15/SF
− OpEx
−$156.5K −$1.84/SF
NOI
$365.1K $4.30/SF
Area
Cook 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%
$7,302,860
Cap Rate 7%
$5,216,329
Cap Rate 9%
$4,057,144
Alternative Uses
Best Use
Industrial
$5.22M
$4.56M – $6.09M
NOI $365,143 @ 7.0% cap · market cap 6.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$29.29M
$25.63M – $34.17M
NOI $2,050,034 @ 7.0% cap · market cap 37.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
506
Businesses Nearby
Explore this area
Business Placement
Demographics for 60026, IL
14,518
Population
5,932
Households
2.4
Avg Household Size
49
Median Age
68%
College-Educated
97%
High-School Grad
4.1 sq mi
ZIP Area
3,541
Density / Sq Mi
$157,712
Median Household Income
$97,530
Median Earnings
$1,983
Median Rent
$663,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Industrial property - M1-2-zoned industrial property with multiple buildings, tenant parking, signage, and highway access in Glenview’s north suburban market.
Where is this industrial property located?
The property is located at 3048-3090 North Lake Terrace Glenview, IL.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: 84,825 SF light industrial complex on more than 4 acres; M1‑2 zoning; Fully leased with upcoming space for an owner‑user
