6704 Pingree Rd, Crystal Lake, IL 60014-6227

This exceptional multi-tenant industrial investment opportunity presents a 96,070 square foot building situated on a 5.6-acre lot in Crystal Lake, Illinois (60014). The property, with APN 19-03-301-009,010, features a main masonry structure complemented by a 13,680 square foot steel addition, built in 1957 with subsequent additions. Currently boasting 86% occupancy across eight units, the property generates a Net Operating Income (NOI) of $252,033, representing a 7.64% cap rate (using a 5% vacancy factor) and an asking price of $3,300,000 ($34.35/sq ft, $412,500/unit). The building offers five loading docks, three dock-high doors, and varying ceiling heights (up to 16 feet). Three 2000-amp electrical services are in place. Office areas and air conditioning are partially present. The property includes double capacity wet sprinklers and is zoned M. A significant upside potential exists through rent increases and the installation of separate gas and electric meters. An additional building site at a signalized intersection offers potential for rezoning and separate commercial development. Note: The owner will lease back Unit 8 at $5 per square foot. Financial statements are available upon request.