Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 675 Sunset Drive in Round Lake, Illinois. The subject property consists of approximately 4,500 square feet of warehouse space and is situated on 1.14 acres of land. The single-tenant asset features masonry construction, a clear height of 12’, one dock-high door set in a truck well, and a fully fenced-in lot. Located 0.3 miles from Illinois Route 134, which merges into Illinois Route 120, the property has proximity to Interstate 94 that connects Chicago to Milwaukee. For sale as vacant, the property can be acquired for immediate owner use or as a lease-up investment opportunity. With a building coverage ratio of 9 percent, the property is idea for industrial outdoor storage (IOS) use. The subject property is well-positioned within the North Lake County submarket, containing a sizeable 45.9 million square feet of industrial space. In the 12 months through Q3 2025, demand was comfortably in positive territory as more than 548,000 square feet were absorbed on net. During this time, only about 247,000 square feet were delivered to North Lake County. As a result, the vacancy rate bucked the national trend and fell by 70 basis points year-over-year to 6.2 percent in Q3, more than a full percent below the national average. At 3.6 percent, the annual growth rate of market rents has actually increased by 40 basis points in 2025, while the national average has decelerated toward 1 percent. The average market rent in North Lake County stands at roughly $9.10 per square foot, up 59.6 percent over the last decade. With no industrial properties under construction in the submarket, demand will be in the driver’s seat of rents and vacancies 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 9.3 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 30 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).