NNN Industrial Property with
For Sale
Contact for pricing
735 Tollgate Rd, Elgin, IL 60123
The entire facility is leased to Staples under a 10-year NNN extension with annual increases.
Property Size28,197 SF
Price / SF$188.83
Days on Market246
Property Features for 735 Tollgate Rd
General Information
Standard status
Active
Size
28,197 SF
Property subtype
Office, Industrial
Zoning
GI
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Net Lease
Net Operating Income
$727,213
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1989
Year Renovated
2026
Buildings
2
Stories
1
Units
16
Tenancy
Multi
Listing Agency:
360 Real Estate Services, LLC
Listed By:
NICHOLAS KYRIAZES · License #471021614
Source:
Crexi
Added: Feb 13
Changed: Oct 10
Last Checked: Oct 16 at 6:40AM
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 360 Real Estate Services, LLC
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Investment Insights
Based on property information with market context.
This 28,197-square-foot industrial facility, built in 1989, is occupied in its entirety by Staples following an expansion of the tenant’s footprint. The building is being adapted for print-shop operations through upgraded electrical infrastructure, new LED lighting, and interior reconfiguration. Ownership is also adding an exterior dock as part of the expansion work.
The property is positioned on Tollgate Road less than a quarter mile from the I-90/Route 31 interchange, providing east-west access to the expressway. The lease extension runs for 10 years upon occupancy of the expansion premises, scheduled for late 2nd Quarter/Early 3rd Quarter of 2026, and includes 3% annual increases. The property carries GI zoning and offers a long-term NNN occupancy structure.
The property is positioned on Tollgate Road less than a quarter mile from the I-90/Route 31 interchange, providing east-west access to the expressway. The lease extension runs for 10 years upon occupancy of the expansion premises, scheduled for late 2nd Quarter/Early 3rd Quarter of 2026, and includes 3% annual increases. The property carries GI zoning and offers a long-term NNN occupancy structure.
Key Highlights
- Entire 28,197‑square‑foot facility occupied by Staples
- 10‑year NNN lease extension begins upon expansion‑premises occupancy
- 3% annual lease increases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$186,348
Cap Rate
3.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,726,960
$3.7M
Cap Rate 7%
$2,662,114
$2.7M
Cap Rate 9%
$2,070,533
$2.1M
Market Conditions
NOI Build-Up for 28,197 SF
Gross rent
$301.1K $10.68/SF
− Vacancy
−$14.5K −$0.51/SF
EGI
$286.7K $10.17/SF
− OpEx
−$100.3K −$3.56/SF
NOI
$186.3K $6.61/SF
Area
Kane County, IL
Vacancy
4.80%
Lease Rate
$10.68 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,726,960
Cap Rate 7%
$2,662,114
Cap Rate 9%
$2,070,533
Alternative Uses
Best Use
Flex RnD
$2.66M
$2.33M – $3.11M
NOI $186,348 @ 7.0% cap · market cap 3.50%
Second Best
Industrial
$1.73M
$1.52M – $2.02M
NOI $121,379 @ 7.0% cap · market cap 2.28%
Theoretical Best
Office A
$9.74M
$8.52M – $11.36M
NOI $681,460 @ 7.0% cap · market cap 12.80%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
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Business Placement
Demographics for 60123, IL
47,932
Population
18,129
Households
2.6
Avg Household Size
37
Median Age
24%
College-Educated
84%
High-School Grad
14.0 sq mi
ZIP Area
3,424
Density / Sq Mi
$86,762
Median Household Income
$40,288
Median Earnings
$1,226
Median Rent
$242,200
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
Frequently Asked Questions
What type of property is this?
NNN property - The entire facility is leased to Staples under a 10-year NNN extension with annual increases.
Where is this nnn property located?
The property is located at 735 Tollgate Rd Elgin, IL.
What is the asking price?
The asking price for this property is $5,324,533.
What are key features of this property?
This property features: Entire 28,197‑square‑foot facility occupied by Staples; 10‑year NNN lease extension begins upon expansion‑premises occupancy; 3% annual lease increases
