Historic Batavia Industrial/Flex Redevelopment
For Sale
$7,900,000
901 North Batavia Avenue, Batavia, IL 60510
131,000 SF industrial/flex space on 12.31 acres in Batavia, IL.
Property Size131,000 SF
Lot Size12.31 Acres
Price / SF$60.31
Days on Market203
Property Features for 901 North Batavia Avenue
General Information
Standard status
Active
Size
131,000 SF
Lot size
12.31 Acres
Property subtype
Industrial
Building Details
Year Built
1936
Listing Agency:
(847) 812-8414
Listed By:
David Coupe · License #IL #471.016180
(847) 812-8414
Source:
Svn
Added: Jan 27
Changed: Jul 6
Last Checked: Aug 17 at 4:11AM
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 David Coupe
Investment Insights
Based on property information with market context.
Located at 901 North Batavia Avenue in Batavia, IL, this historic landmark building offers an investment or redevelopment opportunity. The Campana campus, with award-winning architecture, is situated on a 12.31-acre site on the Fox River in Kane County, bordering Geneva. The property features 131,000 SF of industrial/flex space, originally constructed in 1936 with expansions in 1968, 1969, and 1988. Zoned MU, the property is located in the West Suburbs. The municipality desires adaptive redevelopment to multiple uses, including affordable senior housing, with potential TIF incentives. The property has an open floor plan adaptable for multiple uses. The building features 18' clear height poured-in-place concrete construction, 4 drive-in doors, and 9 docks. It also includes 800 AMP/480V 3p heavy power, 13,000 SF of 3rd-floor office space, a passenger elevator, and a separate freight elevator servicing all floors. Parking is available for 300 vehicles, expandable to 500+. The location has a 26,300 VPD traffic count. The property is near Fermilab and the Fox River, with access to local dining and entertainment in the vibrant downtown area. A new parking lot is planned for Fall 2024.
Key Highlights
- Significant in‑place NOI with tremendous upside potential for increased revenue.
- Prime redevelopment opportunity with potential TIF incentives and municipal support for adaptive reuse, including affordable senior housing.
- Large 131,000 SF industrial/flex space on a 12.31‑acre site in a desirable Western Suburban Chicago location near Geneva and Batavia.
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
$684,749
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
8.67%
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%
$13,694,980
$13.7M
Cap Rate 7%
$9,782,129
$9.8M
Cap Rate 9%
$7,608,322
$7.6M
Market Conditions
NOI Build-Up for 131,000 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
$848.9K $6.48/SF
− Vacancy
−$43.3K −$0.33/SF
EGI
$805.6K $6.15/SF
− OpEx
−$120.8K −$0.92/SF
NOI
$684.7K $5.23/SF
Area
Kane 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%
$13,694,980
Cap Rate 7%
$9,782,129
Cap Rate 9%
$7,608,322
Alternative Uses
Best Use
Office B
$25.80M
$22.58M – $30.10M
NOI $1,806,275 @ 7.0% cap · market cap 22.86%
Second Best
Apartment 5plus
$21.71M
$19.00M – $25.33M
NOI $1,519,707 @ 7.0% cap · market cap 19.24%
Theoretical Best
Office A
$45.23M
$39.57M – $52.77M
NOI $3,165,983 @ 7.0% cap · market cap 40.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
212
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60510, IL
28,156
Population
11,234
Households
2.5
Avg Household Size
42
Median Age
56%
College-Educated
97%
High-School Grad
24.4 sq mi
ZIP Area
1,154
Density / Sq Mi
$120,925
Median Household Income
$57,884
Median Earnings
$1,285
Median Rent
$363,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 131,000 SF industrial/flex space on 12.31 acres in Batavia, IL.
Where is this flex space located?
The property is located at 901 North Batavia Avenue Batavia, IL.
What is the asking price?
The asking price for this property is $7,900,000.
What are key features of this property?
This property features: Significant in‑place NOI with tremendous upside potential for increased revenue.; Prime redevelopment opportunity with potential TIF incentives and municipal support for adaptive reuse, including affordable senior housing.; Large 131,000 SF industrial/flex space on a 12.31‑acre site in a desirable Western Suburban Chicago location near Geneva and Batavia.
