Warehouse with Secure Storage
For Sale
Contact for pricing
320 E Il Route 22, Lake Zurich, IL 60047
Remodeled warehouse with loading capacity, drive-in access, and a secured rear lot for storage or truck parking.
Property Size83,599 SF
Lot Size4.96 Acres
Price / SF$59.75
Days on Market847
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
Site & Location
Road Access
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
22 ft
Dock-High Doors
3
Drive-In Doors
3
Building Details
Year Built
1980
Year Renovated
2007
Building Size
83,599 SF
Listing Agency:
Matthews Real Estate Investment Services | Chicago
(866) 889-0550
Listed By:
Nelson Damore
(408) 833-3512
Source:
Moodyscre
Added: Jun 20, 2024
Changed: Sep 13
Last Checked: Oct 12 at 9:48PM
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
Investment Insights
Based on property information with market context.
This Lake Zurich warehouse contains approximately 83,599 square feet on 4.96 acres. Built in 1980 and remodeled in 2007, the property offers three loading docks, three drive-in doors, and clear heights ranging from 18 to 22 feet. Two drive-in doors are positioned at the front, while the third is located at the rear. A secured back lot provides additional outdoor storage or truck parking, and the roof was replaced in Spring 2022.
The property is located along State Route 22 in Lake Zurich, providing access to connecting interstates. It is approximately 40 miles northwest of downtown Chicago and 24 miles northwest of O’Hare International Airport. More than ±100,000 people live within 5 miles, with an average household income of $150,000.
The property is located along State Route 22 in Lake Zurich, providing access to connecting interstates. It is approximately 40 miles northwest of downtown Chicago and 24 miles northwest of O’Hare International Airport. More than ±100,000 people live within 5 miles, with an average household income of $150,000.
Key Highlights
- Approximately 83,599 square feet on 4.96 acres
- Three loading docks and three drive‑in doors
- Clear heights range from 18’-22’
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$436,980
Cap Rate
8.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,739,600
$8.7M
Cap Rate 7%
$6,242,571
$6.2M
Cap Rate 9%
$4,855,333
$4.9M
Market Conditions
NOI Build-Up for 83,599 SF
Gross rent
$541.7K $6.48/SF
− Vacancy
−$27.6K −$0.33/SF
EGI
$514.1K $6.15/SF
− OpEx
−$77.1K −$0.92/SF
NOI
$437.0K $5.23/SF
Area
Lake County, IL
Vacancy
5.10%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,739,600
Cap Rate 7%
$6,242,571
Cap Rate 9%
$4,855,333
Alternative Uses
Best Use
Warehouse
$6.24M
$5.46M – $7.28M
NOI $436,980 @ 7.0% cap · market cap 8.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$28.86M
$25.26M – $33.67M
NOI $2,020,405 @ 7.0% cap · market cap 40.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
22 ft
Clear height
3
Dock-high doors
3
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
544
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60047, IL
43,944
Population
15,877
Households
2.8
Avg Household Size
43
Median Age
67%
College-Educated
97%
High-School Grad
34.9 sq mi
ZIP Area
1,259
Density / Sq Mi
$173,043
Median Household Income
$82,803
Median Earnings
$1,817
Median Rent
$510,000
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- CubeSmart Self Storage — 300 IL-22, Lake Zurich, IL 60047
Frequently Asked Questions
What type of property is this?
Warehouse - Remodeled warehouse with loading capacity, drive-in access, and a secured rear lot for storage or truck parking.
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 $4,995,000.
What are key features of this property?
This property features: Approximately 83,599 square feet on 4.96 acres; Three loading docks and three drive‑in doors; Clear heights range from 18’-22’
