Industrial Warehouse with
New
For Sale
$1,200,000
519 Kilgore Rd, Dixon, IL 61021
Multiple heated and insulated buildings, three-phase electrical service, and a four-bedroom residence support a range of site functions.
Property Size9,800 SF
Lot Size19.00 Acres
Price / SF$122.45
Days on Market2
Property Features for 519 Kilgore Rd
General Information
Standard status
Active
Size
9,800 SF
Lot size
19.00 Acres
Zoning
Heavy Industrial
Additional Details
Outdoor Storage
Yes
Three-Phase Power
Yes
Building Details
Year Built
1960
Buildings
6
Construction
steel frame
Listing Agency:
Real 1 Realty
Listed By:
David Ciancanelli · License #475182754
(847) 312-8735
Source:
Realtopiare
Added: Sep 24
Last Checked: Sep 24 at 1:53PM
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 Real 1 Realty
Investment Insights
Based on property information with market context.
This Dixon industrial property spans two parcels totaling approximately 19 acres. Six buildings provide warehouse, shop, office, storage, and operational space. The principal warehouse measures 140 by 70 feet and includes concrete floors, dock-high loading positions, drive-in overhead doors, radiant heat, and scale facilities. Other improvements include heated, insulated steel-frame buildings, workshops, service areas, offices, restrooms, indoor and outdoor scales, and three-phase electrical service in the primary buildings. A concrete loading and staging area and outdoor storage capacity are also part of the site. The property is being sold as-is.
Approximately 16.74 acres carry Heavy Industrial zoning, while 2.26 acres are Agricultural-zoned and include a four-bedroom ranch residence with over 2,000 square feet of living space.
Approximately 16.74 acres carry Heavy Industrial zoning, while 2.26 acres are Agricultural-zoned and include a four-bedroom ranch residence with over 2,000 square feet of living space.
Key Highlights
- Two parcels totaling approximately 19 acres
- Approximately 16.74 acres zoned Heavy Industrial and 2.26 acres zoned Agricultural
- Six buildings include warehouse, shop, office, storage, and operational space
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
$82,917
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
6.91%
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%
$1,658,340
$1.7M
Cap Rate 7%
$1,184,529
$1.2M
Cap Rate 9%
$921,300
$921.3K
Market Conditions
NOI Build-Up for 9,800 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
$102.9K $10.50/SF
− Vacancy
−$5.4K −$0.55/SF
EGI
$97.5K $9.95/SF
− OpEx
−$14.6K −$1.49/SF
NOI
$82.9K $8.46/SF
Area
Lee County, IL
Vacancy
5.20%
Lease Rate
$10.50 /SF/Yr
Expense Ratio
15.00%
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%
$1,658,340
Cap Rate 7%
$1,184,529
Cap Rate 9%
$921,300
Alternative Uses
Best Use
Warehouse
$1.18M
$1.04M – $1.38M
NOI $82,917 @ 7.0% cap · market cap 6.91%
Second Best
Industrial
$975.5K
$853.6K – $1.14M
NOI $68,284 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$2.67M
$2.34M – $3.12M
NOI $186,984 @ 7.0% cap · market cap 15.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 61021, IL
22,984
Population
10,110
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
89%
High-School Grad
150.1 sq mi
ZIP Area
153
Density / Sq Mi
$65,719
Median Household Income
$40,805
Median Earnings
$823
Median Rent
$144,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Warehouse - Multiple heated and insulated buildings, three-phase electrical service, and a four-bedroom residence support a range of site functions.
Where is this warehouse located?
The property is located at 519 Kilgore Rd Dixon, IL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two parcels totaling approximately 19 acres; Approximately 16.74 acres zoned Heavy Industrial and 2.26 acres zoned Agricultural; Six buildings include warehouse, shop, office, storage, and operational space
