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    1033 Noel Ave Wheeling, IL 60090

    Sponsored
    For Sale
    $5,325,000

    Multi-tenant warehouse, excellent location.

    Property size:
    96,959 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional multi-tenant industrial property, located at 1033 S Noel Ave in Wheeling, Illinois (zip code 60090), presents a compelling investment opportunity. The 96,959 square foot building, constructed in 1962 and 1969, sits on a 5.12-acre lot and features six distinct units, ideal for a single large user or multiple tenants. The property includes 5 truck docks, 1 drive-in door, and 14'3" ceilings. The warehouse space is complemented by approximately 6,500 square feet of front office space and an additional 3,424 square feet of two-story office space in the northeast section. The building boasts heavy power, floor drains, and ample outside parking. Recent improvements include a new roof and parking lot (within the last two years). The property is zoned I-2 and is currently occupied, with the possibility of a leaseback arrangement or complete vacancy for a new owner. The asking price is $5,325,000, representing a price per square foot of $54.92 and a price per unit of $887,500. The property's Cook County APN is 03-14-103-011. The lease type is NNN. Potential buyers may explore the 6B program to potentially reduce real estate tax burdens. This well-maintained property offers significant potential for a strong return on investment.

    Property Features for 1033 Noel Ave

    General Information

    Property type
    Distribution properties
    Square Feet
    96,959 SF

    Building Details

    Units
    6
    Property Profile Location Intelligence

    Current Use by Public Records

    Precision Paper Tube ... Store International Electro Magnetic Electronic Parts Supplier Noel Transportation Corporation Trucking Company Resinite Corporation Electronic Parts Supplier International Electro Mag Manufacturer

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Building Supply 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
    Wheeling
    County
    Cook
    State
    Illinois
    Longitude
    -87.923215
    Latitude
    42.1220222

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    FAQs

    What type of property is this?
    Distribution property - Multi-tenant warehouse, excellent location.
    Where is this distribution property located?
    The property is located at 1033 Noel Ave Wheeling, IL.
    What is the asking price?
    The asking price for this property is $5,325,000.
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    1033 Noel Ave Wheeling, IL 60090
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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
    1033 Noel Ave Wheeling, IL 60090
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