Remodeled Industrial Flex
For Sale
$640,000
700 BONNIE Lane, Elk Grove Village, IL 60007
Updated office and warehouse areas support light manufacturing, storage, or service operations.
Property Size4,300 SF
Price / SF$148.84
Days on Market30
Property Features for 700 BONNIE Lane
General Information
Standard status
Active
Size
4,300 SF
Property subtype
Commercial
Zoning
INDUS
Warehouse & Industrial
Clear Height
16 ft
Office Build-Out
1,000 SF
Power
600 amps
Sprinkler System
Yes
Additional Details
Asking Price
$640,000
Highway Access
Yes
Office Units
1
Taxes and HOA fees
Annual Taxes
$20,243
Amenities
kitchenette
private restroom
Building Details
Building Size
4,300 SF
Year Built
1973
Year Renovated
2024
Stories
1
Units
1
Construction
concrete
Listing Agency:
Troy Realty Ltd
(773) 792-3000
Listed By:
Andrzej Olszowka · License #475160900
Source:
Jjillrealtygroup
Added: Jul 30
Changed: Aug 28
Last Checked: Aug 25 at 9:21AM
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 Troy Realty Ltd
Investment Insights
Based on property information with market context.
This flex property combines approximately 4,300 SF of industrial and office space, including 1,000 SF of renovated office area with a kitchenette and private restroom. The 2024 remodel introduced new finishes throughout. The warehouse offers 16' clear height, painted interior walls, 600 AMP electrical service, concrete construction, and a wet sprinkler system. A newer roof and parking at both the front and rear add to the functional configuration. The space is available for sale or lease and carries I - Industrial zoning.
Located at 700 Bonnie Ln in Elk Grove Village Business Park, the property provides access to O'Hare International Airport and major expressways, including I-90, I-290, and Rt-83. Its end-unit position and industrial layout support light manufacturing, storage, and service uses.
Located at 700 Bonnie Ln in Elk Grove Village Business Park, the property provides access to O'Hare International Airport and major expressways, including I-90, I-290, and Rt-83. Its end-unit position and industrial layout support light manufacturing, storage, and service uses.
Key Highlights
- Approximately 4,300 SF with 1,000 SF of office space
- 2024 remodel with new finishes throughout
- 16' clear warehouse height and 600 AMP power
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
$45,279
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
7.07%
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%
$905,580
$905.6K
Cap Rate 7%
$646,843
$646.8K
Cap Rate 9%
$503,100
$503.1K
Market Conditions
NOI Build-Up for 4,300 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
$77.4K $18.00/SF
− Vacancy
−$7.7K −$1.80/SF
EGI
$69.7K $16.20/SF
− OpEx
−$24.4K −$5.67/SF
NOI
$45.3K $10.53/SF
Area
Cook County, IL
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$905,580
Cap Rate 7%
$646,843
Cap Rate 9%
$503,100
Alternative Uses
Best Use
Office B
$847.0K
$741.1K – $988.2K
NOI $59,290 @ 7.0% cap · market cap 9.26%
Second Best
Flex RnD
$646.8K
$566.0K – $754.7K
NOI $45,279 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,922 @ 7.0% cap · market cap 16.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
1
Office units
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,119
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60007, IL
33,670
Population
13,580
Households
2.5
Avg Household Size
45
Median Age
41%
College-Educated
92%
High-School Grad
18.1 sq mi
ZIP Area
1,860
Density / Sq Mi
$95,240
Median Household Income
$54,762
Median Earnings
$1,574
Median Rent
$334,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Pierogi Rig — 410 Bonnie Ln, Elk Grove Village, IL 60007
Frequently Asked Questions
What type of property is this?
Flex space - Updated office and warehouse areas support light manufacturing, storage, or service operations.
Where is this flex space located?
The property is located at 700 BONNIE Lane Elk Grove Village, IL.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: Approximately 4,300 SF with 1,000 SF of office space; 2024 remodel with new finishes throughout; 16' clear warehouse height and 600 AMP power
