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$7,500,000
Est. payment /mo
116,226 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Office/Tech
Listing Status Active
Purchase Type For Sale
Square Footage 116,226 sqft
Price per Sqft $64
MLS Listing ID 12537561
Year Built 1983
Annual Tax Amount $496,712
Tax Year 2023
Lot Size 8.080 Acres
Lot Dimensions 631x75x497x701x527
Property Sub-Type Office/Tech
Property Description
Offered here is an office complex investment opportunity located at 1400 S. Wolf Road, Wheeling, Illinois, in the heart of the Chicago's Northwest suburban market. The property is well accessible from interstate I-294 / Tollway or Route 53 via Palatine Road, and located on a highly visible southwest corner of Wolf & Palatine Roads, and adjacent to the Chicago Executive Airport The complex consisting of two buildings, with a total of 116,226 square feet. Built on slab on grade, the campus consists of two buildings which connect to each other. Building 100, consists of approximately 55,268 rentable square feet, and building 200 consists of a total of 57,866 a rentable square feet. The overall total of rentable space consists of 113,134 square feet. The property's site consists of approximately 352,106 square feet of land, rectangular in shape and level grade, with all utilities available. The site zoned as I-1, Light Industrial and Office District. Once stabilized, this asset presents an opportunity to collect strong current cash flow with a potential for future industrial redevelopment. The complex consists of 22 units, and is currently 70% occupied. In addition, FedEx leases 50 parking spaces under longtime terms till August 2031. Leased office space varies from 1,600 sqft to a high of 23,993 sqft. Vacant space ranges from a low of 138 sqft to a high of 6,915 sqft. As stabilize, total projected monthly income is approximately $136,128 / $1,633,536 yr. Estimated capitalization rate after general expenses is projected at 12.1%. Appeal of suburban low rise office properties affordable a cost-effective option over mid-rise buildings and are ideal for main or satellite locations away from congested urban areas. In addition, the style of building offers 24/7 access, together with tenant-controlled HVAC, and parking adjacent to entrances. Space options allow tenants to either grow or reduce space as needed. Units can be easily expanded by creating a cased wall opening which keeps tenant improvement costs to a minimum.
Location
State IL
County Cook
Area Wheeling
Zoning INDUS
Interior
Cooling Central Individual
Fireplace N
Exterior
Utilities Available Electric to Site, Natural Gas Available, Sewer Connected
Building
Dwelling Type Office/Tech
Water Municipal Water
Structure Type Block,Other,Pre-cast,Synthetic Stucco,Glass,Stucco
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© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Ira Lauter of L & B All Star Realty Advisors LLC