Des Plaines Warehouse
For Sale
$1,875,000
Des Plaines, IL 60007, Des Plaines, IL 60007
Warehouse with large parking lot and proximity to O'Hare Airport.
Property Size21,300 SF
Price / SF$88.03
Days on Market203
Property Features
General Information
Standard status
Active
Size
21,300 SF
Property subtype
Industrial
Building Details
Building Size
21,300 SF
Listing Agency:
DarwinPW Realty/CORFAC International
(630) 993-3863
Listed By:
Tommy Engel
Source:
Corfac
Added: Jan 26
Changed: Aug 12
Last Checked: Aug 17 at 5:21AM
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 DarwinPW Realty/CORFAC International
Investment Insights
Based on property information with market context.
This 21,300 square foot warehouse property is suitable for either user occupancy or investment. The current tenant intends to vacate early, potentially allowing a user to occupy the space within approximately 6 months. The property benefits from its location near the new Elmhurst Road/I-90 four-way interchange and its proximity to O'Hare Airport cargo entrances. A large parking lot is available. The warehouse is fully air-conditioned and features lab space with floor drains. The roof is approximately 2 years old and has a remaining warranty of 18 years. The location benefits from the availability of a local labor force.
Key Highlights
- Location to new Elmhurst Road/I‑90 4‑way interchange
- User can occupy within the next ± 6 months
- Proximity to O'Hare Airport cargo entrances
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
$111,337
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
5.94%
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%
$2,226,740
$2.2M
Cap Rate 7%
$1,590,529
$1.6M
Cap Rate 9%
$1,237,078
$1.2M
Market Conditions
NOI Build-Up for 21,300 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
$138.0K $6.48/SF
− Vacancy
−$7.0K −$0.33/SF
EGI
$131.0K $6.15/SF
− OpEx
−$19.6K −$0.92/SF
NOI
$111.3K $5.23/SF
Area
Cook 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%
$2,226,740
Cap Rate 7%
$1,590,529
Cap Rate 9%
$1,237,078
Alternative Uses
Best Use
Warehouse
$1.59M
$1.39M – $1.86M
NOI $111,337 @ 7.0% cap · market cap 5.94%
Second Best
Industrial
$1.31M
$1.15M – $1.53M
NOI $91,689 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$7.35M
$6.43M – $8.58M
NOI $514,774 @ 7.0% cap · market cap 27.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,475
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60007, IL
33,670
Population
13,580
Households
2.5
Avg Household Size
45
Median Age
41%
College-Educated
92%
High-School Grad
18.1 sq mi
ZIP Area
1,860
Density / Sq Mi
$95,240
Median Household Income
$54,762
Median Earnings
$1,574
Median Rent
$334,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse with large parking lot and proximity to O'Hare Airport.
Where is this warehouse located?
The property is located at Des Plaines, IL.
What is the asking price?
The asking price for this property is $1,875,000.
What are key features of this property?
This property features: Location to new Elmhurst Road/I‑90 4‑way interchange; User can occupy within the next ± 6 months; Proximity to O'Hare Airport cargo entrances
