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

    1601 Remington Blvd Bolingbrook, IL 60490

    • Industrial properties
    • 33.74 lot acres
    For Lease
    View listing
    Value Estimations
    $730,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1227445
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Industrial properties

    Property Details for 1601 Remington Blvd

    Lot size
    33.74 lot acres
    Property type
    Industrial properties
    APN
    12-02-31-101-001
    APU
    120231101001

    Description

    This exceptional Class A industrial property, located at 1601 Remington Boulevard in Bolingbrook, Illinois, offers 591,748 square feet of warehouse and distribution space within a single building. Built in 2002, this one-story facility boasts a 30-foot ceiling height, 59 loading docks, and two drive-in doors. Ample parking is available with 99 car spaces and 74 trailer spaces, both expandable to meet future needs. The property sits on 23.35 acres of land and benefits from excellent visibility and frontage on I-55 and Remington Boulevard, experiencing exposure to over 100,000 vehicles daily, presenting significant signage opportunities. Power is supplied by a 2,000A, 277/480V, 3P-4W system. The property is zoned I and is situated in the highly desirable I-55 South Corridor submarket within the Chicago MSA, offering easy access to major transportation arteries. Its location provides convenient access to the Weber Road and I-55 interchange (less than 1.5 miles), Midway International Airport (approximately 33 minutes), and O'Hare International Airport (approximately 40 minutes). This prime location also benefits from proximity to a large pool of skilled labor and numerous retail amenities. The property's strategic location and substantial size make it an ideal choice for businesses seeking a high-quality distribution center in a key logistics hub.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $730,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bolingbrook
    County
    Will
    State
    Illinois
    Longitude
    -88.1406
    Latitude
    41.6508
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $530,805
    $1,299,283
    $5,428,539
    $6,727,822
    -
    $3,897,849
    $16,285,617
    $20,183,466

    Comparable in this City

    • Value Estimation by Request
      0.25 Acres

      Remington Blvd

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    • Value Estimation
      $35,550,000
      747,420 SF

      901 Carlow Dr

      INDUSTRIAL (GENERAL) • 747,420 SF
      901 Carlow Dr, Bolingbrook, IL 60490-3240
      View Details
    • Value Estimation
      $24,615,000
      239,188 SF

      900 Carlow Dr

      INDUSTRIAL (GENERAL) • 239,188 SF
      900 Carlow Dr, Bolingbrook, IL 60490-3238
      View Details
    • Value Estimation by Request
      5.00 Acres

      1750 135th St

      INDUSTRIAL (GENERAL) • 5.00 Acres
      1750 135th St, Bolingbrook, IL 60490-4936
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    • Value Estimation
      $5,070,000
      100,154 SF

      1115 Hosler Dr

      INDUSTRIAL (GENERAL) • 100,154 SF
      1115 Hosler Dr, Bolingbrook, IL 60490-3500
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    • Value Estimation by Request
      0.36 Acres

      463 Veterans Pkwy

      INDUSTRIAL (GENERAL) • 0.36 Acres
      463 Veterans Pkwy, Bolingbrook, IL 60490
      View Details

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      Bolingbrook Warehouse/Distribution Facility

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    1601 Remington Blvd
    Bolingbrook, IL 60490
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    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
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