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    248 Highland Ave Aurora, IL 60506

    Sponsored
    For Lease
    $9 SF/Yr ($3,024 /Mo)

    4,032 SF Manufacturing/Flex Building

    Lot size:
    4,032 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This single-tenant industrial property, situated on a 20,648 square foot lot, offers 4,032 square feet of versatile space ideal for manufacturing, flex, or R&D uses. Built in 1931, the one-story building features a recently updated interior, including an ADA-compliant restroom. The space boasts multiple office areas, comprising a reception area, three large private offices, and a dedicated conference room. In addition to the office spaces, there is substantial finished indoor flex space suitable for warehouse operations. The property includes two drive-in doors for convenient loading and unloading, and ample parking with ten spaces. The building is zoned M1. Utilities are the responsibility of the tenant under a gross lease agreement. Property taxes are $0.78 per square foot. Currently, 2,600 square feet is available for lease. No elevators are present on the property.

    Property Features for 248 Highland Ave

    General Information

    Property type
    Life science properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    4,032 SF
    Total Rate
    3024

    Building Details

    Year Built
    1931
    Buildings
    1
    Stories
    1

    Unit(s) available at that property

    Space
    Size
    4,032 SF
    Rate per SF
    $13

    HighLights

    • 4,032 SF single‑tenant industrial building with manufacturing, flex, and R&D capabilities.
    • Features multiple office spaces, including a reception area, three large offices, and a conference room.
    • Includes finished flex space suitable for warehouse use.
    • Recently updated interior with an ADA‑compliant restroom.
    • Gross lease; tenant pays utilities.
    Property Profile Location Intelligence

    Current Use by Public Records

    ABC Roofing Company Roofing Contractor

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Aurora
    County
    Kane
    State
    Illinois
    Longitude
    -88.3301746
    Latitude
    41.7553793

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    FAQs

    What type of property is this?
    Life science property - 4,032 SF Manufacturing/Flex Building
    Where is this life science property located?
    The property is located at 248 Highland Ave Aurora, IL.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: 4,032 SF single-tenant industrial building with manufacturing, flex, and R&D capabilities.; Features multiple office spaces, including a reception area, three large offices, and a conference room.; Includes finished flex space suitable for warehouse use.
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    248 Highland Ave Aurora, IL 60506
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    248 Highland Ave Aurora, IL 60506
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