Storefront Unit with Central
For Sale
$204,900
31632 N Ellis Dr Unit 111, Volo, IL 60073
Industrial-zoned commercial unit with central air in a multi-building complex.
Property Size1,776 SF
Price / SF$115.37
Days on Market72
Property Features for 31632 N Ellis Dr Unit 111
General Information
Standard status
Active
Size
1,776 SF
Building Details
Year Built
1999
Listing Agency:
Royal Homes, LLC
Listed By:
Sara Valadez · License #475147650
(847) 845-7788
Source:
Tumpanelegacy
Added: Aug 9
Changed: Oct 3
Last Checked: Oct 7 at 4:22PM
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 Royal Homes, LLC
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Investment Insights
Based on property information with market context.
Unit 111 is a storefront commercial space within a complex at 31632 N Ellis Drive in Volo, Illinois. Built in 1999, the property includes central air and carries INDUS zoning.
Access is from Route 120 via Route 12 and N Ellis Drive, with the unit reached through the complex’s first entrance and internal drive. The property is located in Lake County and is identified as a storefront property.
Access is from Route 120 via Route 12 and N Ellis Drive, with the unit reached through the complex’s first entrance and internal drive. The property is located in Lake County and is identified as a storefront property.
Key Highlights
- Central air conditioning
- INDUS zoning
- Built in 1999
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,163
Cap Rate
8.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$363,260
$363.3K
Cap Rate 7%
$259,471
$259.5K
Cap Rate 9%
$201,811
$201.8K
Market Conditions
NOI Build-Up for 1,776 SF
Gross rent
$26.6K $15.00/SF
− Vacancy
−$693 −$0.39/SF
EGI
$25.9K $14.61/SF
− OpEx
−$7.8K −$4.38/SF
NOI
$18.2K $10.23/SF
Area
Lake County, IL
Vacancy
2.60%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$363,260
Cap Rate 7%
$259,471
Cap Rate 9%
$201,811
Alternative Uses
Best Use
Retail
$259.5K
$227.0K – $302.7K
NOI $18,163 @ 7.0% cap · market cap 8.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$613.2K
$536.5K – $715.4K
NOI $42,922 @ 7.0% cap · market cap 20.95%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
69k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 66%
Shops & Services 34%
McDonald's
Dining
20,190 visits/mo
0.4 miles
Starbucks
Dining
17,786 visits/mo
0.5 miles
Thorntons
Shops & Services
9,493 visits/mo
0.4 miles
Dunkin' Donuts
Dining
7,726 visits/mo
0.5 miles
BP
Shops & Services
7,132 visits/mo
0.4 miles
Demographics for 60073, IL
61,721
Population
20,864
Households
3
Avg Household Size
34
Median Age
27%
College-Educated
81%
High-School Grad
18.5 sq mi
ZIP Area
3,336
Density / Sq Mi
$95,457
Median Household Income
$43,228
Median Earnings
$1,461
Median Rent
$215,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Storefront property - Industrial-zoned commercial unit with central air in a multi-building complex.
Where is this storefront property located?
The property is located at 31632 N Ellis Dr Unit 111 Volo, IL.
What is the asking price?
The asking price for this property is $204,900.
What are key features of this property?
This property features: Central air conditioning; INDUS zoning; Built in 1999
