NNN Industrial | 9.5 Years Remaining | Chicago MSA — Sale in Glenview, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Industrial Property
  • Location: Glenview, IL 60026
  • Year built: 1983

Photos

NNN Industrial | 9.5 Years Remaining | Chicago MSA — Sale in Glenview, IL, photo 1 of 2
NNN Industrial | 9.5 Years Remaining | Chicago MSA — Sale in Glenview, IL, photo 2 of 2

Investment Figures

Cap rate
7.01%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1870 Elmdale Avenue in Glenview, Illinois. The subject property consists of approximately 44,458 square feet of industrial space situated on 2.13 acres. This fully occupied industrial asset features masonry construction, 21’ clear height, one grade door, four dock doors, and heavy power with 800 amps and 277 to 480 volts. Zoned I-2, the property is ideal for contractors, small businesses, and light manufacturing. With proximity to Interstates 294 and 94, the property is 10 miles from O'Hare International Airport and 24 miles from downtown Chicago. The opportunity to acquire this property presents a unique investment chance, with a triple-net lease term of approximately 9.5 years remaining at $6.70 per square foot. Generating a 7.01 percent cap rate, the lease carries 3 percent rent escalations and can be renewed once for five years at fair market value. The property is occupied by Lakeshore Academy, a leading gymnastics school in the Chicago area for four decades, demonstrating a stable and long-term commitment to the location. The North Cook County submarket is outperforming national averages, with 4.5 percent rent growth in Q2 2026, compared to the 1.7 percent national average, making this a compelling investment opportunity. The Chicago metropolitan area, where the North Cook County submarket is situated, is a major economic hub with a population of over 9.5 million people, spanning across multiple counties and thousands of square miles. The region is experiencing steady job growth and population migration, driven by its diverse economy and high quality of life. Major transportation infrastructure, including O'Hare Airport, Interstates 294 and 94,and six Class 1 railroads, provides exceptional connectivity to the rest of the country and globally. The market is home to numerous corporate headquarters, including those in the manufacturing, logistics, and technology sectors,

Market Context

This industrial in Glenview, IL is listed for sale. It is offered at an approximate 7.0% capitalization rate, a key benchmark for income-producing industrial assets. The building dates to 1983. Compare it against other industrial listings for sale in Glenview, IL — view the full market.

As of Q2 2026, the Chicago industrial market showed a 5.3% vacancy rate, and rents up 7.4% year over year. Source: multiple brokerage reports, Q2 2026.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Industrial market FAQ

Is the Chicago industrial market tightening or softening?
Vacancy is around 5.3%, with asking rents rising year over year (Q2 2026).

Estimated Price per SF

$36.69/SF – $266.83/SF

Mid: $111.18/SF

About 8 in 10 recent recorded sales fell within a range this wide around the estimate. An automated estimate, not an appraisal.

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