Warehouse with Central
For Sale
$1,585,000
950 Greenlee Street, Marengo, IL 60152
Warehouse property with central air conditioning in Marengo, Illinois.
Property Size14,400 SF
Days on Market35
Property Features for 950 Greenlee Street
General Information
Standard status
Active
Size
14,400 SF
Taxes and HOA fees
Annual Taxes
$28,656
Amenities
Central Air
Building Details
Building Size
14,400 SF
Year Built
1997
Stories
1
Listing Agency:
ENTRE COMMERCIAL REALTY, LLC
(847) 310-4295
Listed By:
Dan Jones · License #471013303
Source:
Evrealestate
Added: Jul 7
Changed: Aug 9
Last Checked: Aug 9 at 2:57PM
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 ENTRE COMMERCIAL REALTY, LLC
Investment Insights
Based on property information with market context.
This warehouse property was built in 1997 and includes central air conditioning. The facility is located at 950 Greenlee Street in Marengo, Illinois, within McHenry County. Access is described as east of S Prospect Rd between 176 and 20.
Key Highlights
- Warehouse property built in 1997
- Central air conditioning
- 950 Greenlee Street, Marengo, IL 60152
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
$75,270
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
4.75%
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%
$1,505,400
$1.5M
Cap Rate 7%
$1,075,286
$1.1M
Cap Rate 9%
$836,333
$836.3K
Market Conditions
NOI Build-Up for 14,400 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
$93.3K $6.48/SF
− Vacancy
−$4.8K −$0.33/SF
EGI
$88.6K $6.15/SF
− OpEx
−$13.3K −$0.92/SF
NOI
$75.3K $5.23/SF
Area
McHenry 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%
$1,505,400
Cap Rate 7%
$1,075,286
Cap Rate 9%
$836,333
Alternative Uses
Best Use
Warehouse
$1.08M
$940.9K – $1.25M
NOI $75,270 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.97M
$4.35M – $5.80M
NOI $348,016 @ 7.0% cap · market cap 21.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
141
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60152, IL
12,382
Population
4,715
Households
2.6
Avg Household Size
42
Median Age
27%
College-Educated
94%
High-School Grad
95.4 sq mi
ZIP Area
130
Density / Sq Mi
$94,209
Median Household Income
$51,808
Median Earnings
$1,090
Median Rent
$259,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Highway 20 Self Storage — 1030 E Grant Hwy, Marengo, IL 60152
- Unicarriers Storage Building — 1050 greenlee st, marengo, il 60152
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse property with central air conditioning in Marengo, Illinois.
Where is this warehouse located?
The property is located at 950 Greenlee Street Marengo, IL.
What is the asking price?
The asking price for this property is $1,585,000.
What are key features of this property?
This property features: Warehouse property built in 1997; Central air conditioning; 950 Greenlee Street, Marengo, IL 60152
