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Property profile & analytics
OFF-MARKET
Estimated value
$9,000,000
Industrial properties
2400 Vantage Dr 2420, Elgin, IL 60124-7867
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US28-1969602
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
2000
Total area
72,548 SF
APN
03-30-228-003
UPID
US28-1969602
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
-
Morris Midwest LLC Distribution Center Logistics Company
-
Okuma Chicago Tech Center Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.99M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.71M
Blend (final)
Blend
$9.00M
Owner & transaction history
Np Nwcp 2400 Vantage LLC · 1 yrs held
Np Nwcp 2400 Vantage LLC
since 2025
Last sale
$10.3M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$10.2M
+38.0%
Commercial (general)
$10.1M
+35.8%
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 Elgin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elgin 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
$8,800,000
ML approach
$8,990,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$7,420,000
Current use
APARTMENT HOUSE (5+ UNITS)
$10,235,000
Change: +38% · Conversion: Difficult
COMMERCIAL (GENERAL)
$10,075,000
Change: +36% · Conversion: Difficult
Blend value · Realmo final
$9.00M
Range $8.10M – $9.90M · ±10% · vs last sale $10.25M (Mar 10 2025)
Last sale anchor
$10.25M
Mar 10 2025
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
$124 / SF
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
$147,759
Tax year 2022
Assessed value
$1,748,357
Assessed 2022
Previous assessed
$1,650,795
+5.9% YoY
Effective rate
8.45%
On assessed value
Assessed land
$424,780
Assessed improvement
$1,323,577
Land market value
$1,274,340
Improvement market value
$3,970,731
Total market value
$5,245,071
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
2000
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
72,548 SF
APN
03-30-228-003
UPID
US28-1969602
Jurisdiction
KANE
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
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$7.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.2M
COMMERCIAL (GENERAL)
Est. value
$10.1M
INDUSTRIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2000
Heating
NONE
Cooling
Yes
Stories
1
Current owner
From public records · entity-resolved
Np Nwcp 2400 Vantage LLC
Entity
Mailing address
1 OAKBROOK TER STE #400, OAKBROOK TERRACE, IL 60181-4449
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 10, 2025
$10,250,000
Np Nwcp 2400 Vantage LLC
Northwest Logistics Park Portfolio
Special Warranty Deed
$178,000,000 · Newy York Life Insurance Company
May 3, 2021
$8,960,000
Northwest Logistics Park Portfolio
Tlf Logistics II 2400 Vantage LLC
Special Warranty Deed
—
Jan 2, 2013
$5,900,000
Logistics Vantage Tlf II
Clpf-2400 Vantage LP
Grant Deed
—
Mar 3, 2006
$2,317,500
Asa Grove LLC
Grove At Randall LLC
Warranty Deed
related
$3,600,000 · Lasalle National Bank
Dec 28, 2004
$7,629,000
Clpf-2400 Vantage
Centerpoint Venture LLC
Grant Deed
—
Jan 3, 2001
$3,470,500
Centerpoint Venture LLC
Wispark Corp
Grant Deed
—
—
—
Logistics Vantage Tlf II
—
Deed Of Trust
related
$2,567,000 · Metropolitan Life Insurance
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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