Listing Agency: Morken & Associates Show Phone

Listed By: Steve Morken Show Phone

Source: Moodyscre

Added: Nov 22, 2024 Changed: Oct 26 Last Checked: Oct 30 at 5:05PM

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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 Morken & Associates

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This freestanding industrial property contains 30,000 square feet in a multi-tenant configuration and is fully leased. The building includes ample parking and is positioned for direct access to Route 47.

Located at 769 N Heartland Dr in Sugar Grove, the property sits 1 mile south of the full I-88 interchange, providing a defined connection to the regional highway network.

Key Highlights

• 30,000 square feet of industrial space
• Freestanding multi‑tenant building
• Fully leased

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$129,140

Cap Rate

3.69%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,582,800 $2.6M

Cap Rate 7%

$1,844,857 $1.8M

Cap Rate 9%

$1,434,889 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 30,000 SF

Gross rent

$194.4K $6.48/SF

− Vacancy

−$9.9K −$0.33/SF

EGI

$184.5K $6.15/SF

− OpEx

−$55.3K −$1.84/SF

NOI

$129.1K $4.30/SF

Area

Kane County, IL

Vacancy

5.10%

Lease Rate

$6.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,582,800

Cap Rate 7%

$1,844,857

Cap Rate 9%

$1,434,889

Alternative Uses

Best Use

Industrial

$1.84M

$1.61M – $2.15M (±1% cap)

NOI $129,140 @ 7.0% cap · market cap 3.69%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$10.36M

$9.06M – $12.08M (±1% cap)

NOI $725,034 @ 7.0% cap · market cap 20.72%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Top-Pick Athletics Gym & Fitness Center Nuwave Electric Inc Electrical Service Dr. Joseph S. ... Dental Office Dr. Eric Mitra, ... Dental Office Modern Implant Institute Dental Office

Suggested Use

Top Pick Auto Repair Shop Electrical Service Plumbing Service Auto Parts Store Furniture & Home Goods Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

99

Businesses Nearby

Explore this area Business Placement

Demographics for 60554, IL

12,049

Population

4,797

Households

2.5

Avg Household Size

45

Median Age

46%

College-Educated

96%

High-School Grad

35.5 sq mi

ZIP Area

339

Density / Sq Mi

$115,865

Median Household Income

$65,805

Median Earnings

$1,140

Median Rent

$366,200

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Frequently Asked Questions

What type of property is this?

Industrial property - Fully leased asset with access to Route 47 and proximity to a full I-88 interchange.

Where is this industrial property located?

The property is located at 769 N Heartland Dr Sugar Grove, IL.

What is the asking price?

The asking price for this property is $3,500,000.

What are key features of this property?

This property features: 30,000 square feet of industrial space; Freestanding multi‑tenant building; Fully leased