Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    1221-1311 Rand Rd Des Plaines, IL 60016

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1221-1311 Rand Rd Des Plaines, IL 60016

    View on Map
    • Warehouses
    • 136,533 SF
    For Lease
    View Listing →
    Rand Road Business Center: Industrial Space For Lease
    Contact for pricing

    Rand Road Business Center: Industrial Space

    Four buildings, 136,533 SF, multiple tenants.

    1221-1311 Rand Rd, Des Plaines, IL 60016
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 1221-1311 Rand Rd

    Property size
    136,533 SF
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    The Rand Road Business Center offers a prime industrial opportunity with four multi-tenant buildings totaling 136,533 square feet. This strategically located property within the Rand Road Business Park provides exceptional access to major transportation arteries, including O'Hare Airport, I-90, and I-294. The complex features a variety of spaces available, ranging from 1,599 square feet to 5,782 square feet, catering to diverse business needs. Seven spaces are currently available for immediate occupancy. Each unit boasts 13-foot ceilings and 100% air conditioning, ensuring a comfortable and productive work environment. Exterior docks provide efficient loading and unloading capabilities. The property also offers ample parking with 237 spaces available for tenants and visitors. Its convenient location offers easy access to a variety of restaurants and shopping amenities, enhancing the overall convenience and appeal of this exceptional industrial property. The property's diverse building types, including manufacturing, warehouse, flex, and distribution spaces, make it an ideal location for a wide range of businesses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Des Plaines
    County
    Cook
    State
    Illinois
    Longitude
    -87.8936
    Latitude
    42.0515

    Comparable in this City

    • Value Estimation by Request
      0.21 Acres

      1217 Thacker St

      INDUSTRIAL (GENERAL) • 0.21 Acres
      1217 Thacker St, Des Plaines, IL 60016-6412
      View Details
    • Value Estimation by Request
      0.19 Acres

      1217 Thacker St

      INDUSTRIAL (GENERAL) • 0.19 Acres
      1217 Thacker St, Des Plaines, IL 60016-6412
      View Details
    • Value Estimation by Request
      0.25 Acres

      1840 Busse Hwy

      INDUSTRIAL (GENERAL) • 0.25 Acres
      1840 Busse Hwy, Des Plaines, IL 60016-6727
      View Details
    • Value Estimation by Request
      0.33 Acres

      1869 Busse Hwy, Unit 71

      INDUSTRIAL (GENERAL) • 0.33 Acres
      1869 Busse Hwy, Des Plaines, IL 60016-6726
      View Details
    • Value Estimation by Request
      0.95 Acres

      1331 Golf Rd

      INDUSTRIAL (GENERAL) • 0.95 Acres
      1331 Golf Rd, Des Plaines, IL 60016
      View Details
    • Value Estimation by Request
      0.29 Acres

      985 Graceland Ave

      INDUSTRIAL (GENERAL) • 0.29 Acres
      985 Graceland Ave, Des Plaines, IL 60016-7211
      View Details

    Similar Nearby for Sale

    • New
      $1,917,000
      15,336 SF

      Des Plaines Industrial Warehouse/Showroom

      Renovated industrial warehouse with showroom, high traffic location.
      1628-30 Rand Rd, Des Plaines, IL 60016
      View Details
    • $800,000

      Manufacturing Building with Redevelopment Potential

      3900SF manufacturing building with warehouse and redevelopment lots.
      727 1St Ave, Des Plaines, IL 60016
      View Details
    • $749,000

      Versatile Industrial Building Near O'Hare

      9,100 sq ft industrial building with flexible usage options.
      1407 Redeker Rd, Des Plaines, IL 60016
      View Details
    • $1,917,000
      15,336 SF

      Industrial Warehouse with Showroom

      Renovated industrial warehouse with showroom, high traffic location.
      1628-30 Rand Rd, Des Plaines, IL 60016
      View Details
    • $1,917,000

      Industrial Warehouse with Showroom

      Renovated industrial warehouse with showroom, high traffic location.
      1628-30 Rand Rd, Des Plaines, IL 60016
      View Details
    • $625,000
      5,320 SF

      Des Plaines Flex/Industrial/Office Building

      5,320 SF building on 0.34 AC in Des Plaines.
      1033 Graceland Ave, Des Plaines, IL 60016
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      136,533 SF

      Rand Road Business Center: Industrial Space

      Four buildings, 136,533 SF, multiple tenants.
      1221-1311 Rand Rd, Des Plaines, IL 60016
      View Details
    • Contact for pricing

      Des Plaines Flex Space Available

      Flex space for lease in well-maintained multi-tenant facilities.
      1221-1311 Rand Rd, Des Plaines, IL 60016
      View Details
    • Contact for pricing
      2,384 SF

      Des Plaines Warehouse/Flex Space Available

      Multi-tenant warehouse/flex buildings near O’Hare Airport, I-90 & I-294.
      1245-1265 Rand Rd, Des Plaines, IL 60016
      View Details
    • Contact for pricing
      3,363 SF

      Des Plaines Warehouse/Flex Space

      Multi-tenant warehouse/flex buildings near O’Hare, I-90 & I-294.
      1287-1311 Rand Rd, Des Plaines, IL 60016
      View Details
    • Contact for pricing
      256,385 SF

      Des Plaines Warehouse Space

      256,385 SF warehouse with outdoor storage in Des Plaines.
      301 N 3Rd Ave, Des Plaines, IL 60016
      View Details
    • Contact for pricing
      3,789 SF

      Des Plaines Warehouse/Flex Space

      Multi-tenant warehouse/flex buildings near O’Hare, I-90 & I-294.
      1221-1243 Rand Rd, Des Plaines, IL 60016
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1221-1311 Rand Rd
    Des Plaines, IL 60016
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!