Warehouse and Flex Office
For Sale
$2,400,000
https //evrealestate.com/en/properties/our-listings/Undisclosed-Address-Aurora-IL-60505-MRED-12538329, Aurora, IL 60505
Industrial and office-style space with convenient access from IL-31 and IL-25 corridors.
Property Size16,800 SF
Days on Market139
Property Features for https //evrealestate.com/en/properties/our-listings/Undisclosed-Address-Aurora-IL-60505-MRED-12538329
General Information
Standard status
Active
Size
16,800 SF
Taxes and HOA fees
Annual Taxes
$23,597
Building Details
Building Size
16,800 SF
Year Built
1931
Stories
1
Listing Agency:
CENTURY 21 Circle
(630) 747-3205
Listed By:
Karen Kramford · License #477013569
(630) 747-3205
Source:
Evrealestate
Added: Mar 26
Changed: Aug 8
Last Checked: Jul 16 at 7:03AM
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 CENTURY 21 Circle
Investment Insights
Based on property information with market context.
This listing presents a mixed-use industrial/flex setup with warehouse and office unit options, positioned as a practical fit for tenants and operators looking for space that can support both logistics and day-to-day business functions. The property is described as having a large building with parking located behind the building and a front entrance reached by walking from the rear parking area.
The site is located at 610–628 N Broadway in Aurora, Illinois (Kane County). Driving directions are provided from I-88 to IL-31 (Lake Street), then east on Illinois Avenue. Continue south on Broadway (IL-25) to the property on the right. Parking is available behind the large building, with pedestrian access to the front.
For prospective buyers, this configuration may appeal to users seeking flexibility in how industrial space is paired with office needs. For tenants, the combination of warehouse and office space can support a range of operations that require storage or light warehouse functions alongside administrative or customer-facing work. Specific unit sizes, condition details, and any specialized improvements are not provided in the available information, so interested parties should verify layout and functionality during due diligence.
The site is located at 610–628 N Broadway in Aurora, Illinois (Kane County). Driving directions are provided from I-88 to IL-31 (Lake Street), then east on Illinois Avenue. Continue south on Broadway (IL-25) to the property on the right. Parking is available behind the large building, with pedestrian access to the front.
For prospective buyers, this configuration may appeal to users seeking flexibility in how industrial space is paired with office needs. For tenants, the combination of warehouse and office space can support a range of operations that require storage or light warehouse functions alongside administrative or customer-facing work. Specific unit sizes, condition details, and any specialized improvements are not provided in the available information, so interested parties should verify layout and functionality during due diligence.
Key Highlights
- Built in 1931
- Access via IL‑31 (Lake Street) and IL‑25 (Broadway) corridors
- Located in Kane County
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
$213,268
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
8.89%
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%
$4,265,360
$4.3M
Cap Rate 7%
$3,046,686
$3.0M
Cap Rate 9%
$2,369,644
$2.4M
Market Conditions
NOI Build-Up for 16,800 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
$352.8K $21.00/SF
− Vacancy
−$24.7K −$1.47/SF
EGI
$328.1K $19.53/SF
− OpEx
−$114.8K −$6.84/SF
NOI
$213.3K $12.69/SF
Area
Aurora, IL
Vacancy
7.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
35.00%
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%
$4,265,360
Cap Rate 7%
$3,046,686
Cap Rate 9%
$2,369,644
Alternative Uses
Best Use
Warehouse
$3.52M
$3.08M – $4.11M
NOI $246,450 @ 7.0% cap · market cap 10.27%
Second Best
Flex RnD
$3.05M
$2.67M – $3.55M
NOI $213,268 @ 7.0% cap · market cap 8.89%
Theoretical Best
Office A
$4.81M
$4.21M – $5.61M
NOI $336,672 @ 7.0% cap · market cap 14.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60505, IL
57,906
Population
18,681
Households
3.1
Avg Household Size
32
Median Age
13%
College-Educated
64%
High-School Grad
10.1 sq mi
ZIP Area
5,733
Density / Sq Mi
$70,306
Median Household Income
$33,912
Median Earnings
$1,230
Median Rent
$192,500
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.
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial and office-style space with convenient access from IL-31 and IL-25 corridors.
Where is this warehouse located?
The property is located at https //evrealestate.com/en/properties/our-listings/Undisclosed-Address-Aurora-IL-60505-MRED-12538329 Aurora, IL.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Built in 1931; Access via IL‑31 (Lake Street) and IL‑25 (Broadway) corridors; Located in Kane County
