Large-Scale Value-Add Industrial | 2717 W North St
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Large-Scale Value-Add Industrial 2717 W North St
124,807 SF Vacant Industrial Building Online Auction Sale Edelstein, IL 61526
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Investment Highlights
- 2717 West North Street presents the market with a rare opportunity to acquire a vacant large-scale industrial asset in Edelstein, Illinois.
- Spanning 124,807 square feet, the property covers 9.11 acres and is divided into 20 distinct parcels.
- Ideal for use as a company's HQ, the asset includes 18,117 square feet of office space on the main and second levels.
- Critically located with access to three key interstates: 80, 55, and 74, providing streamlined access to the Midwest's dense population centers.
- Key features include 18' to 22' clear heights, seven overhead doors, thick concrete floors, two paint booths, and 1,200-amp/ 480-volt power.
Executive Summary
2717 West North Street is an incredible value-add industrial opportunity with high regional connectivity in Edelstein, Illinois. The facility totals 124,807 square feet, including 18,117 square feet of office space on the main and second floors. The office area has been meticulously maintained and is in excellent condition. The layout includes a reception area, multiple private offices, conference and training rooms, and breakrooms. The total industrial space is 106,690 square feet, which consists of several large clear-span spaces. Key industrial features include 18- to 22-foot clear heights, 6.5- to 12-inch-thick concrete floors designed to carry extreme weights, seven overhead doors, two paint booths, and 1,200-amp / 480-volt panels. The offering comprises 20 distinct parcels totaling approximately 9.11 acres. The main parcel is zoned I-1 for light industrial, while the surrounding parcels have C2 and R2 designations. The building is offered to the market vacant, providing immense value-add upside via an effective lease-up strategy or through owners/users of the amenity-packed building.
2717 West North Street is in a premium location that offers industrial users immense access to critical interstates that provide direct access to key population centers across the Midwestern United States. The property offers seamless connections to the three major interstates: 80, 55, and 74. These interstates help connect this critical industrial asset with key areas like the Quad Cities, Peoria, Chicago, Des Moines, Cedar Rapids, and many more. This asset is situated just off Highway 40, which helps provide a connection point to these major roadways.
Do not miss the opportunity to acquire this value-add industrial space that is maxed out with features that can provide immense value to an investor or owner/user.
Property tours are available by appointment only. Please contact the broker to schedule.
2717 West North Street is in a premium location that offers industrial users immense access to critical interstates that provide direct access to key population centers across the Midwestern United States. The property offers seamless connections to the three major interstates: 80, 55, and 74. These interstates help connect this critical industrial asset with key areas like the Quad Cities, Peoria, Chicago, Des Moines, Cedar Rapids, and many more. This asset is situated just off Highway 40, which helps provide a connection point to these major roadways.
Do not miss the opportunity to acquire this value-add industrial space that is maxed out with features that can provide immense value to an investor or owner/user.
Property tours are available by appointment only. Please contact the broker to schedule.
Data Room Click Here to Access
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
- Miscellaneous
Market Analytics Click Here to Access
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Market Sale Price per SF
Peoria - IL USA
Market Cap Rate
Peoria - IL USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
| Sale Type | Investment | Rentable Building Area | 124,807 SF |
| Sale Conditions | Auction Sale | No. Stories | 1 |
| Property Type | Industrial | Year Built | 1960 |
| Property Subtype | Warehouse | Tenancy | Single |
| Building Class | C | Clear Ceiling Height | 18 FT |
| Lot Size | 9.11 AC | No. Dock-High Doors/Loading | 7 |
| Sale Type | Investment |
| Sale Conditions | Auction Sale |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 9.11 AC |
| Rentable Building Area | 124,807 SF |
| No. Stories | 1 |
| Year Built | 1960 |
| Tenancy | Single |
| Clear Ceiling Height | 18 FT |
| No. Dock-High Doors/Loading | 7 |
DEMOGRAPHICS
Regional Accessibility
CITY
POPULATION
MILES
DRIVE TIME
Chicago
2,705,994
151
3 h 8 m
Indianapolis
867,125
227
4 h 27 m
Columbus
892,533
403
7 h 44 m
Detroit
672,662
406
7 h 49 m
Nashville
669,053
461
8 h 43 m
Memphis
650,618
483
9 h 5 m
ACCESS AND LABOR FORCE
10 MILES
Total Population
34,959
Total Labor Force
15,919
Unemployment Rate
3.00%
Median Household Income
$88,645
Warehouse Employees
3,802
High School Education Or Higher
95.80%
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $312,100 | |
| Land Assessment | $34,040 | Total Assessment | $346,140 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$34,040
Improvements Assessment
$312,100
Total Assessment
$346,140
Sale Advisor
Sale Advisor
William Hayes, Commercial Broker
(309) 643-0717
Contact
William began his commercial career in 2006 with a Central Illinois developer finding tenants for new office buildings along with planned retail and restaurant developments. In 2007, William moved to Chicago and in short time became the senior leasing and sales broker for the Alliance Real Estate Advisors, a boutique commercial firm with a primary focus on the River North and West Loop neighborhoods. Although experienced as a tenant representative for retail, office, and industrial space, William specialized in landlord representation with a focus on loft office buildings.
William moved back to Central Illinois in 2011 and has been able to use his expertise in the leasing and sale of commercial real estate in the Peoria business community for the last 10 years. In his first two years back in the Peoria market, William brokered the highest number of commercial transactions in the Peoria area according to the Peoria Area Association of Realtors®.
William specializes in using the latest technology to conduct diligent market research, which helps him negotiate the best possible terms for his clients. William focuses on his clients’ specific goals and takes pride in assisting them with their needs in an honest and straight-forward manner. Since joining Joseph & Camper Commercial in 2011, William has familiarized himself with every sector of the commercial market. William has experience with sales and leasing of office, retail, industrial, land, and investment properties in the Central Illinois region. Joseph & Camper provides clients with an unmatched combination of real estate knowledge, experience, and dedication. William is proud to be part of the Joseph & Camper team and enjoys working to assist the Peoria area business community.
In his free time, William is an active supporter of the Heart of Illinois Down Syndrome Association, St. Jude, and the National Multiple Sclerosis Society.
William moved back to Central Illinois in 2011 and has been able to use his expertise in the leasing and sale of commercial real estate in the Peoria business community for the last 10 years. In his first two years back in the Peoria market, William brokered the highest number of commercial transactions in the Peoria area according to the Peoria Area Association of Realtors®.
William specializes in using the latest technology to conduct diligent market research, which helps him negotiate the best possible terms for his clients. William focuses on his clients’ specific goals and takes pride in assisting them with their needs in an honest and straight-forward manner. Since joining Joseph & Camper Commercial in 2011, William has familiarized himself with every sector of the commercial market. William has experience with sales and leasing of office, retail, industrial, land, and investment properties in the Central Illinois region. Joseph & Camper provides clients with an unmatched combination of real estate knowledge, experience, and dedication. William is proud to be part of the Joseph & Camper team and enjoys working to assist the Peoria area business community.
In his free time, William is an active supporter of the Heart of Illinois Down Syndrome Association, St. Jude, and the National Multiple Sclerosis Society.
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Amen Almukhtar
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 478027045
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Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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Large-Scale Value-Add Industrial | 2717 W North St
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