404 Washington Blvd, Mundelein, IL 60060
For Lease
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This exceptional 31,600 square foot industrial building, situated on a generous 2.38-acre lot in Mundelein, Illinois, presents a compelling investment opportunity. The property boasts a well-maintained structure with ample parking, specifically designed for outside storage and truck parking. The building's layout is highly functional, incorporating 21% office space and the remaining area dedicated to warehouse operations. Key features include a loading dock equipped with a leveler, a 10-foot drive-in door, and substantial heavy power capacity. The column spacing is 28 feet, offering flexibility for various layouts and configurations. Its strategic location provides excellent access to major transportation arteries, including a convenient 4.5-mile proximity to the I-94 & Townline Road interchange. Additional access is readily available via Hawley/Route 176, Lake Street, Route 45, Route 60, and Route 83. The property's versatility allows for either full occupancy by a single owner-user or subdivision into smaller units to generate additional rental income. Recently under new ownership, the building has undergone a complete renovation, ensuring modern functionality and efficiency. This property represents a rare opportunity to acquire a high-quality industrial asset in a desirable location with significant potential for growth and return on investment. The asking price is $1,950,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.