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    Property profile & analytics

    400 Schmidt Rd Bolingbrook, IL 60440

    • Commercial real estate
    • 15,600 SF
    • 1.13 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Last Sale
    Aug 17, 2021
    $1,200,000
    Value Estimations
    $1,240,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-0445260
    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

    • Commercial real estate

    Property Details for 400 Schmidt Rd

    Year built
    1982
    Lot size
    1.13 lot acres
    Property size
    15,600 SF
    Property type
    Commercial real estate
    APN
    12-02-10-100-043
    APU
    120210100043

    Description

    This exceptional office space, located at 400 N Schmidt Rd in Bolingbrook, IL, offers a fantastic opportunity for businesses seeking flexible and well-appointed accommodations. The property, a Class B building constructed in 1980, boasts a total of 16,800 square feet and is conveniently situated at the intersection of N Schmidt and Boughton Roads in Will County. Multiple tenancy options are available, with suites ranging from 250 to 1,300 square feet, and a minimum divisible space of 450 square feet. Currently, 450 square feet are vacant and ready for immediate occupancy. The building features a shared conference room, a communal break room, and a convenient kitchen area for tenant use. Each individual suite includes the added convenience of its own private bathroom. This prime location offers easy access to major transportation routes and amenities, making it an ideal choice for businesses of all sizes. The building's 16,800 square feet are divided into multiple suites, providing a diverse range of options to suit various business needs. Don't miss this chance to secure your ideal workspace in this well-maintained and conveniently located office building.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,295,000
      ML approach
      $1,270,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Bolingbrook
    County
    Will
    State
    Illinois
    Longitude
    -88.0872
    Latitude
    41.7085
    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
    $37,118
    $62,533
    $320,112
    $382,645
    -
    $187,599
    $960,336
    $1,147,935

    Comparable in this City

    • Value Estimation by Request
      1.05 Acres

      260 Schmidt Rd Ste F

      COMMERCIAL (GENERAL) • 1.05 Acres
      260 Schmidt Rd Ste F, Bolingbrook, IL 60440-3087
      View Details
    • Value Estimation by Request
      0.48 Acres

      444 Bolingbrook Dr

      COMMERCIAL (GENERAL) • 0.48 Acres
      444 Bolingbrook Dr, Bolingbrook, IL 60440-1955
      View Details
    • Value Estimation by Request
      0.01 Acres

      437 Boughton Rd

      COMMERCIAL (GENERAL) • 0.01 Acres
      437 Boughton Rd, Bolingbrook, IL 60440-1821
      View Details
    • Value Estimation by Request
      0.53 Acres

      348 Janes Ave

      COMMERCIAL (GENERAL) • 0.53 Acres
      348 Janes Ave, Bolingbrook, IL 60440
      View Details
    • Value Estimation by Request
      4.12 Acres

      175 Joliet Rd

      COMMERCIAL (GENERAL) • 4.12 Acres
      175 Joliet Rd, Bolingbrook, IL 60440-3603
      View Details
    • Value Estimation
      $4,425,000
      21,520 SF

      619 Boughton Rd, Unit 143CC

      COMMERCIAL (GENERAL) • 21,520 SF
      619 Boughton Rd, Bolingbrook, IL 60440-2486
      View Details

    Similar Nearby for Sale

    • $2,000,000

      Bolingbrook Commercial Land - B-2 Zoning

      Prime 2-acre lot, high traffic, mixed-use development.
      151 Boughton Rd, Bolingbrook, IL 60440
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      1.00 Acre

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      Two-bedroom townhouse with attached garage, close to amenities and transportation.
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      35,010 SF

      Bolingbrook Office Space Available

      Office space for lease in Bolingbrook, Illinois.
      440 Quadrangle Dr, Bolingbrook, IL 60440
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      Prime commercial land near I-355 and Promenade Bolingbrook.
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    Similar Nearby for Lease

    • Contact for pricing
      1,206 SF

      Meijer In-Store Retail Space

      Prime Midwest retail spaces available.
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      22,940 SF

      Northridge Plaza Retail Space

      Prime Bolingbrook Retail, Two Suites Available
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      60,283 SF

      Bolingbrook Retail Center Opportunity

      High-traffic shopping center space available.
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    • Contact for pricing
      109,703 SF

      Bolingbrook Warehouse with Truck Court

      109,700 SF warehouse with secured truck court for lease.
      599 S Schmidt Rd, Bolingbrook, IL 60440
      View Details
    • Contact for pricing
      23,218 SF

      Bolingbrook Retail Space Available

      Retail spaces available in Bolingbrook with high visibility.
      344-390 S Bolingbrook Dr, Bolingbrook, IL 60440
      View Details
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    400 Schmidt Rd
    Bolingbrook, IL 60440
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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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