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Warehouse

2375 American Lane

2375 American Ln, Elk Grove Village, IL 60007

Listing Price: $1,100,000

Cap Rate
1.00%
Gross SF
12,054
Price/Gross SF
$91.26
Lot Size
0.56 acres
Year Built
1980
Rentable SF
12,054

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 2375 American Lane in Elk Grove Village, Illinois. The subject property consists of approximately 12,054 square feet of warehouse space and is situated on 0.56 acres of land. The single-tenant asset features masonry and metal construction, a clear height ranging from 14’ to 22’, two grade-level doors, three-phase power with 400 amps and 480 volts, and seven parking spaces. For sale as vacant, the property is located in the low-tax county of DuPage, just two miles south of Interstate 90 and adjacent to O’Hare International Airport.

The subject property sits within the O’Hare Submarket containing a massive 112.8 million square feet of industrial space. At the midway point of 2024, 3.8 percent of the inventory was available, sitting 270 basis points below the national vacancy rate. Among comparable properties up to 50,000 square feet, vacancies bucked the national trend, slipping 30 basis points to just 2.0 percent in Quarter Two. Despite availability remaining tight across O’Hare, annual rent growth slowed 5.3 percent in Quarter Two, matching the 10-year average. While there are 1.5 million square feet underway, new construction only represents 1.3 percent of current inventory levels. With new supply limited, vacancies will largely be dependent upon demand for the foreseeable future (CoStar).

Known as the Greater Chicagoland area, Chicago-Naperville-Elgin is the third largest metro in the nation. The metro houses 9.5 million people, including 2.7 million residents within the city of Chicago. The number of corporate headquarters in Chicago is second only to New York City and is home to 33 Fortune 500 companies. Thanks to eight commercial and passenger rail lines, the Port of Chicago, three international airports, and a vast network of freeways, Chicago is a major distribution and logistics hub. The local economy and workforce are highly diverse, supported largely by distribution, finance, manufacturing, and high-tech industries. As a multicultural city that thrives on the harmony and diversity of its neighborhoods, Chicago boasts 100 neighborhoods, 77 community areas, 50 wards, and eight major league sports teams, including two MLB teams. Chicago is a leader in reforming public schools, enhancing public safety and security initiatives, providing affordable housing in attractive and economically sound communities, ensuring accessibility for all, and fostering, social, economic, and environmental sustainability (Chicago.gov).

Investment Highlights

  • Vacant Single-Tenant 12,054-Square-Foot Warehouse Sitting on 0.56 Acres
  • Featuring Masonry/Metal Construction with 14'-22' Clear Height and Two Grade-Level Doors
  • Located in Low-Tax DuPage County | Proximity to I-90 and O'Hare International Airport
  • Tough Barrier-to-Entry Submarket: 2.0 Percent Vacancy Among Comparables and 5.3 Percent Overall Rent Growth
  • Features 10-Ton Crane which Provides the Ability to Handle Heavy Machinery and Materials, making it ideal for Manufacturing and Industrial Operations

Exclusively Listed By

Financing By

Warehouse

2375 American Lane

Listing Price: $1,100,000

Cap Rate
1.00%
Gross SF
12,054
Price/Gross SF
$91.26
Lot Size
0.56 acres
Year Built
1980
Rentable SF
12,054

Investment Highlights

  • Vacant Single-Tenant 12,054-Square-Foot Warehouse Sitting on 0.56 Acres
  • Featuring Masonry/Metal Construction with 14'-22' Clear Height and Two Grade-Level Doors
  • Located in Low-Tax DuPage County | Proximity to I-90 and O'Hare International Airport
  • Tough Barrier-to-Entry Submarket: 2.0 Percent Vacancy Among Comparables and 5.3 Percent Overall Rent Growth
  • Features 10-Ton Crane which Provides the Ability to Handle Heavy Machinery and Materials, making it ideal for Manufacturing and Industrial Operations

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 2375 American Lane in Elk Grove Village, Illinois. The subject property consists of approximately 12,054 square feet of warehouse space and is situated on 0.56 acres of land. The single-tenant asset features masonry and metal construction, a clear height ranging from 14’ to 22’, two grade-level doors, three-phase power with 400 amps and 480 volts, and seven parking spaces. For sale as vacant, the property is located in the low-tax county of DuPage, just two miles south of Interstate 90 and adjacent to O’Hare International Airport. The subject property sits within the O’Hare Submarket containing a massive 112.8 million square feet of industrial space. At the midway point of 2024, 3.8 percent of the inventory was available, sitting 270 basis points below the national vacancy rate. Among comparable properties up to 50,000 square feet, vacancies bucked the national trend, slipping 30 basis points to just 2.0 percent in Quarter Two. Despite availability remaining tight across O’Hare, annual rent growth slowed 5.3 percent in Quarter Two, matching the 10-year average. While there are 1.5 million square feet underway, new construction only represents 1.3 percent of current inventory levels. With new supply limited, vacancies will largely be dependent upon demand for the foreseeable future (CoStar). Known as the Greater Chicagoland area, Chicago-Naperville-Elgin is the third largest metro in the nation. The metro houses 9.5 million people, including 2.7 million residents within the city of Chicago. The number of corporate headquarters in Chicago is second only to New York City and is home to 33 Fortune 500 companies. Thanks to eight commercial and passenger rail lines, the Port of Chicago, three international airports, and a vast network of freeways, Chicago is a major distribution and logistics hub. The local economy and workforce are highly diverse, supported largely by distribution, finance, manufacturing, and high-tech industries. As a multicultural city that thrives on the harmony and diversity of its neighborhoods, Chicago boasts 100 neighborhoods, 77 community areas, 50 wards, and eight major league sports teams, including two MLB teams. Chicago is a leader in reforming public schools, enhancing public safety and security initiatives, providing affordable housing in attractive and economically sound communities, ensuring accessibility for all, and fostering, social, economic, and environmental sustainability (Chicago.gov).

Exclusively Listed By

Financing By

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