Warehouse Property for
For Sale
Contact for pricing
702 Magna Drive, Round Lake, IL 60073
Warehouse property in Lake County with access to major transportation routes and an established industrial employment base.
Property Size14,800 SF
Price / SF$110
Days on Market59
Property Features for 702 Magna Drive
General Information
Standard status
Active
Size
14,800 SF
Property subtype
Industrial
Building Details
Year Built
1989
Listing Agency:
Entre Commercial Realty LLC
Listed By:
Mike DeSerto · License #IL 471.022108
Source:
Crexi
Added: Jun 11
Changed: Jul 10
Last Checked: Aug 7 at 9:13AM
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 Entre Commercial Realty LLC
Investment Insights
Based on property information with market context.
This for-sale warehouse property is positioned to serve industrial and commercial users seeking flexible space in Lake County, Illinois. The offering is categorized as warehouses and other warehouse uses, with the property presented as a practical base for logistics, operations, and day-to-day business needs.
Located at 702 Magna Drive in Round Lake, the site benefits from the region’s connectivity between Chicago and Milwaukee, along with access to major transportation routes. The broader Lake County area is described as having modern infrastructure and a strong talent pool, supported by a mix of corporate, industrial, and research-driven industries.
For buyers evaluating warehouse space, this location is framed around operational access and an industrial workforce. The surrounding market context emphasizes ongoing business activity across multiple industry types, which can support a broad range of tenant requirements for warehouse-driven operations in the Round Lake area.
Located at 702 Magna Drive in Round Lake, the site benefits from the region’s connectivity between Chicago and Milwaukee, along with access to major transportation routes. The broader Lake County area is described as having modern infrastructure and a strong talent pool, supported by a mix of corporate, industrial, and research-driven industries.
For buyers evaluating warehouse space, this location is framed around operational access and an industrial workforce. The surrounding market context emphasizes ongoing business activity across multiple industry types, which can support a broad range of tenant requirements for warehouse-driven operations in the Round Lake area.
Key Highlights
- Warehouse property with a year built of 1989
- Located in Lake County with access to major transportation routes
- Region has an established industrial employment base and mix of corporate, industrial, and research‑driven industries
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
$77,361
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
4.75%
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%
$1,547,220
$1.5M
Cap Rate 7%
$1,105,157
$1.1M
Cap Rate 9%
$859,567
$859.6K
Market Conditions
NOI Build-Up for 14,800 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
$95.9K $6.48/SF
− Vacancy
−$4.9K −$0.33/SF
EGI
$91.0K $6.15/SF
− OpEx
−$13.7K −$0.92/SF
NOI
$77.4K $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 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%
$1,547,220
Cap Rate 7%
$1,105,157
Cap Rate 9%
$859,567
Alternative Uses
Best Use
Warehouse
$1.11M
$967.0K – $1.29M
NOI $77,361 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.11M
$4.47M – $5.96M
NOI $357,684 @ 7.0% cap · market cap 21.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
304
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60073, IL
61,721
Population
20,864
Households
3
Avg Household Size
34
Median Age
27%
College-Educated
81%
High-School Grad
18.5 sq mi
ZIP Area
3,336
Density / Sq Mi
$95,457
Median Household Income
$43,228
Median Earnings
$1,461
Median Rent
$215,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- AAA Safety Storage — 812 Sunset Dr, Round Lake, IL 60073
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- Storage Express — 1298 Long Lake Dr, Round Lake Beach, IL 60073
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse property in Lake County with access to major transportation routes and an established industrial employment base.
Where is this warehouse located?
The property is located at 702 Magna Drive Round Lake, IL.
What is the asking price?
The asking price for this property is $1,628,000.
What are key features of this property?
This property features: Warehouse property with a year built of 1989; Located in Lake County with access to major transportation routes; Region has an established industrial employment base and mix of corporate, industrial, and research‑driven industries
