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Property profile & analytics
OFF-MARKET
Estimated value
$8,085,000
Industrial properties
1450 Feehanville Dr, Mount Prospect, IL 60056-6011
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US28-2428463
Property summary
AI-generated overview
This exceptional 112,290-square-foot industrial warehouse, situated on a 5.6-acre lot at 1450 Feehanville Drive in Mount Prospect, IL 60056, presents a unique leasing opportunity. Built in 1986 and extensively renovated in 2024, the property boasts a single-story building with a 24-foot ceiling height. The space is divisible, offering minimum leasable areas of 43,687 square feet and maximum contiguous space of 68,603 square feet. The property features eight loading docks, two drive-ins, and ample parking with 105 spaces. Recent improvements include a new facade and entrances, updated office finishes, new truck docks, parking lot enhancements, and upgraded lighting. The property is zoned I1 - Limited Industrial and offers 800 Amps @ 480/277V power. Property taxes are $1.81 per square foot. This multi-tenant building offers a blend of modern amenities and functionality, ideal for warehouse, distribution, or manufacturing operations. The property's strategic location in Mount Prospect, Illinois provides easy access to major transportation routes.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1988
Lot
5.6 ac (243,936 SF)
APN
03-35-200-039
UPID
US28-2428463
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Makita USA Inc Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.09M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.09M
Owner & transaction history
1450 Feehanville Partnership LLC · 2 yrs held
1450 Feehanville Partnership LLC
since 2024
Last sale
$8.1M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Mount Prospect submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mount Prospect submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$8,085,000
ML approach
$8,085,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$8.09M
Range $7.28M – $8.89M · ±10% · vs last sale $8.09M (Apr 17 2024)
Last sale anchor
$8.09M
Apr 17 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$515,151
Tax year 2022
Assessed value
$1,788,453
Assessed 2022
Previous assessed
$1,788,453
+0.0% YoY
Effective rate
28.80%
On assessed value
Assessed land
$426,888
Assessed improvement
$1,361,565
Land market value
$1,707,552
Improvement market value
$5,446,260
Total market value
$7,153,812
Applied tax rate
38,148.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1988
Heating
NONE
Lot
5.6 ac (243,936 SF)
APN
03-35-200-039
UPID
US28-2428463
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1988
Heating
NONE
Lot
5.6 ac
Current owner
From public records · entity-resolved
1450 Feehanville Partnership LLC
Entity
Mailing address
1001 FEEHANVILLE DR, MOUNT PROSPECT, IL 60056-6006
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 17, 2024
$8,085,000
1450 Feehanville Partnership LLC
Makita USA INC
Special Warranty Deed
$8,000,000 · Signature Bank
Nov 4, 1997
—
Makita USA INC
Registrar Of Titles
Trustees Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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