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

    703 Annoreno Dr Addison, IL 60101

    • Industrial properties
    • 23,608 SF
    • 1.52 lot acres
    For Lease
    View listing
    $13 SF/Yr
    Value Estimations
    $840,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1808918
    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

    • Construction Brokers / Contractor
    • Armin Machinery / Machining Manufacturer / Machine Shop
    • Gold Shield Services South / Plumber
    • GEM Dock & Door / Garage Door Supplier / Warehouse
    • Aarco Baths Bathtub Refinishing / Bathroom Remodeler

    Property Details for 703 Annoreno Dr

    Year built
    1981
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.52 lot acres
    Property size
    23,608 SF
    Zone code
    I
    Property type
    Industrial properties
    APN
    03-32-204-039
    APU
    332204039

    Description

    This exceptional Addison, Illinois industrial property, located at 703 West Annoreno Drive, 60101, offers a unique opportunity for businesses seeking smaller, efficient spaces. The property encompasses a total of 24,038 square feet and is currently configured for multiple tenants. Two spaces are immediately available, each measuring 1,505 square feet, representing a total of 3,010 square feet of vacant space. This is a rare find, particularly given the inclusion of dedicated drive-in doors for each unit, providing convenient and direct access for loading and unloading. The property is classified as industrial, with subtypes including manufacturing, warehouse, and distribution, making it suitable for a variety of uses. Situated in DuPage County, this location offers excellent access to major transportation routes, enhancing logistical efficiency. The minimum divisible space is 1,505 square feet, while the maximum contiguous space currently available is also 1,505 square feet. This property presents a compelling opportunity for businesses seeking a well-located, functional, and readily available industrial space in the thriving Addison market. Interested parties should inquire promptly to secure their space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $675,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,002,000
      Market price range: $608k - $1.49M

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

    Location Insight

    • Map
    • Local Demand
    City
    Addison
    County
    Dupage
    State
    Illinois
    Longitude
    -88.0037
    Latitude
    41.9163
    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
    $45,674
    $204,970
    $415,480
    $620,450
    -
    $614,910
    $1,246,440
    $1,861,350

    Comparable in this City

    • Value Estimation
      $240,000
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      Lombard Rd

      INDUSTRIAL (GENERAL) • 0.61 Acres
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      View Details
    • Value Estimation
      $275,000
      0.78 Acres

      426 Westgate St

      INDUSTRIAL (GENERAL) • 0.78 Acres
      426 Westgate St, Addison, IL 60101-4529
      View Details
    • Value Estimation
      $240,000
      0.13 Acres

      1051 Westwood Ave

      INDUSTRIAL (GENERAL) • 0.13 Acres
      1051 Westwood Ave, Addison, IL 60101-4918
      View Details
    • Value Estimation
      $255,000
      0.42 Acres

      Belden Ave

      INDUSTRIAL (GENERAL) • 0.42 Acres
      Belden Ave, Addison, IL 60101
      View Details
    • Value Estimation
      $235,000
      0.02 Acres

      412 Belden Ave

      INDUSTRIAL (GENERAL) • 0.02 Acres
      412 Belden Ave, Addison, IL 60101-4903
      View Details
    • Value Estimation
      $990,000
      102,402 SF

      200 Church St

      INDUSTRIAL (GENERAL) • 102,402 SF
      200 Church St, Addison, IL 60101-3748
      View Details

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      36,600 SF

      Addison Warehouse with Fenced Storage

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    Similar Nearby for Lease

    • $12 SF/Yr
      5,365 SF

      Industrial Space Near I-355

      Institutionally owned and managed industrial space for rent.
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      Addison Industrial Property For Rent

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      View Details
    • $13 SF/Yr
      53,200 SF

      Industrial Unit Near I-355

      Smaller industrial unit with drive-in door, near I-355.
      Addison, IL 60101
      View Details
    • $4,100 /Mo
      13,360 SF

      Industrial Unit For Rent

      Industrial unit perfect for contractors or overflow storage.
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    • $10 SF/Yr
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      Addison Flex/Industrial Space Available

      Flex/industrial space for rent, conveniently located near I-355.
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      View Details
    • Contact for pricing
      10,880 SF

      Addison Warehouse Space Available

      Institutionally owned warehouse space with high parking ratio.
      2100 W Corporate Dr, Addison, IL 60101
      View Details
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    703 Annoreno Dr
    Addison, IL 60101
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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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