Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3401 Commercial Ave Northbrook, IL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    48,218 SF warehouse with flexible occupancy and storage.

    Type:INDUSTRIAL
    Property size:
    48,218 SF
    Lot size:
    2.89 Acres
    Added:
    Oct 13, 2025
    Days on Market:
    198
    Last Refresh:
    Apr 5 at 9:23 pm

    Property Features for 3401 Commercial Ave

    General Information

    Standard status
    Active
    Size
    48,218 SF
    Lot size
    2.89 Acres
    Property subtype
    INDUSTRIAL

    Properties For Sale

    at 3401 Commercial Ave Contact us

    We can help!

    Listing Contact
    Ned Frank
    Ned Frank

    Listing agent Ned Frank

    Listing office Colliers | Chicago Rosemont

    Listing date Oct 13, 2025

    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 Colliers | Chicago Rosemont

    Overview

    Northbrook Warehouse with Outdoor Storage

    This 48,218 square foot property includes 2,800 square feet of office space. The building features 16' clear height, one interior dock, three exterior docks, and two drive-in doors. There is parking for 100 cars and 16 trailers. The property has heavy power and Class 6B taxes. It offers potential for outdoor storage. The location is one mile from both north and south interchanges at I-294. The property is divisible and available for lease or sale with negotiable occupancy.
    Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Storage 1 One — 631 Vermont St, Quincy, IL 62301

    Location Insight

    • Map
    • Local Demand
    City
    Northbrook
    County
    Adams
    State
    Illinois
    Longitude
    -91.3952
    Latitude
    39.9421

    Nearby Similar for Sale

    • $580,000

      Northbrook Commercial Property with Carwash

      Commercial property with car wash, showroom, and coffee shop.
      204 Skokie Boulevard, Northbrook, IL 60062
      View Details
    • $1,250,000

      Northbrook Multifamily Investment Opportunity

      Fully occupied 6-unit building with remodeled units and amenities.
      3606 Salem Walk, Northbrook, IL 60062
      View Details
    • $1,250,000

      Northbrook Multifamily Investment Opportunity

      Fully occupied 6-unit building with amenities in Northbrook, Illinois.
      3456 Salem Walk, Northbrook, IL 60062
      View Details
    • $1,250,000

      Northbrook Multifamily Investment Opportunity

      Fully occupied 6-unit building with amenities in Northbrook, Illinois.
      3428 Salem Walk, Northbrook, IL 60062
      View Details
    • $685,000
      1,500 SF

      Northbrook Retail/Office Building For Sale

      Stand-alone retail/office building in Northbrook with high traffic exposure.
      1815 Dundee Road, Northbrook, IL 60062
      View Details
    • $845,000
      2,300 SF

      Reimagined Boutique Office Space

      Refined, flexible workspace with modern finishes and convenient location.
      836 Skokie Boulevard, Northbrook, IL 60062
      View Details
    • $845,000
      2,300 SF

      Refined Boutique Office with Updates

      Impeccably reimagined office space with modern finishes and updates.
      836 Skokie Boulevard, Northbrook, IL 60062
      View Details
    • $1,200,000
      3,606 SF

      Top-Tier Office Suite/Recording Studio

      High-end office suite and recording studio in Northbrook.
      636 Anthony Trail, Northbrook, IL 60062
      View Details
    • $749,000
      5,295 SF

      Northbrook Office Condo For Sale

      Office condo available for purchase in Northbrook, Illinois.
      666 Dundee Rd, Northbrook, IL 60062
      View Details
    • $675,000

      Northbrook Flex/Office Unit For Sale

      Flex/office unit in Northbrook Business Center with drive-in door.
      425 Huehl Road #8, Northbrook, IL 60062
      View Details
    • $195,000

      Turnkey Restaurant Business For Sale

      Well-established Northbrook restaurant with banquet halls and fully equipped kitchen.
      500 Anthony Trail, Northbrook, IL 60062
      View Details
    • $665,000
      1,899 SF

      Northbrook Medical Office Condo

      Turnkey medical office condo in Northbrook ready for immediate use.
      105 Revere Dr, Northbrook, IL 60062
      View Details

    FAQs

    What type of property is this?
    Warehouse - 48,218 SF warehouse with flexible occupancy and storage.
    Where is this warehouse located?
    The property is located at 3401 Commercial Ave Northbrook, IL.
    What are key features of this property?
    This property features: Excellent Location: Just 1 mile to both north/south interchanges at I‑294.; Sizeable Space: 48,218 SF including 2,800 SF office space, divisible for flexible use.; Ample Parking: Benefit from 100 car parking spaces and 16 trailer parking spaces.
    (847) 217-4821 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ned Frank
    Ned Frank
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!