Lake Zurich Industrial
320 E Il Route 22, Lake Zurich, IL 60010
Call to check price and availability
83,599 SF industrial building on 4.96 acres for sale.
Type:INDUSTRIAL
Property size:
83,599 SFLot size:
4.96 AcresPrice / SF:
$62/SF- Added:
- Jun 20, 2024
- Days on Market:
- 702
- Last Refresh:
- Apr 5 at 9:53 pm
Property Features for 320 E Il Route 22
General Information
- Standard status
- Active
- Size
- 83,599 SF
- Lot size
- 4.96 Acres
- Property subtype
- INDUSTRIAL
Listing agent Nelson Damore (408) 833-3512
Listing office Matthews Real Estate Investment Services | Chicago (408) 833-3512
Listing date Jun 20, 2024
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 Matthews Real Estate Investment Services | Chicago
HighLights
- Back lot provides secure access for outdoor storage and additional truck parking.
- Recently replaced roof (Spring 2022).
- Convenient access to connecting interstates via State Route 22.
- Located in Lake Zurich, approximately 40 miles northwest of downtown Chicago and 24 miles northwest of O’Hare International Airport.
- Features three loading docks and three drive‑in doors.
- Low property taxes.
Overview
The property at 320 E Main St, Lake Zurich, IL, is an industrial building constructed in 1980 and remodeled in 2007. It comprises approximately 83,599 square feet on a 4.96-acre lot. The building features three loading docks and two drive-in doors at the front. The clear heights range from 18 to 22 feet. A third drive-in door is located at the back of the building, along with a large, securely accessed lot suitable for additional storage or truck parking. The roof was replaced in the Spring of 2022. Situated on State Route 22, the property provides convenient access to connecting interstates. The surrounding area has a population of over 100,000 within a 5-mile radius, with an average household income of $150,000. The current tenant will be vacating at the end of September this year. Lake Zurich is located approximately 40 miles northwest of downtown Chicago and 24 miles northwest of O’Hare International Airport.
Financial Insights
Value Estimation Calculated for Warehouse
Conservative
$4.86M
NOI $436,980 @ 9.00% cap · cautious / downside scenario
Moderate
$6.24M
NOI $436,980 @ 7.00% cap · market / base-case scenario
Aggressive
$8.74M
NOI $436,980 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Warehouse
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $541.7k | $6.48 |
| − Vacancy | −$27.6k | −$0.33 |
| EGI | $514.1k | $6.15 |
| − OpEx | −$77.1k | −$0.92 |
| NOI | $437.0k | $5.23 |
83,599 SF · lease $6.48/SF/yr · vacancy 5.10% · expense 15.00%
Alternative Use Scenarios
Best Use
Warehouse
$6.24M
$5.46M – $7.28M
NOI $436,980 @ 7.0% cap · market cap 8.37%
Second Best
Industrial
$5.14M
$4.50M – $6.00M
NOI $359,866 @ 7.0% cap · market cap 6.89%
Theoretical Best
Office A
$28.86M
$25.26M – $33.67M
NOI $2,020,405 @ 7.0% cap · market cap 38.71%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Warehouses
Similar Places Nearby
- CubeSmart Self Storage — 300 IL-22, Lake Zurich, IL 60047
Location Insight
- Map
- Local Demand
- City
- Lake Zurich
- County
- Cook
- State
- Illinois
- Longitude
- -88.078
- Latitude
- 42.1984
Nearby Similar for Sale
FAQs
What type of property is this?
Warehouse - 83,599 SF industrial building on 4.96 acres for sale.
Where is this warehouse located?
The property is located at 320 E Il Route 22 Lake Zurich, IL.
What is the asking price?
The asking price for this property is $5,220,000.
What are key features of this property?
This property features: Back lot provides **secure access for outdoor storage and additional truck parking.**; Recently replaced roof (Spring 2022).; Convenient access to connecting interstates via State Route 22.
