Office for Sale in Aurora, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Aurora, IL 60505
  • Year built: 1943

Description

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 138 Pierce Street in Aurora, Illinois. The subject property consists of approximately 61,951 square feet of manufacturing space and is situated on 3.59 acres of land. The two-building asset features a clear height ranging between 16’ to 30’, two dock-high doors, seven grade-level doors, a wet sprinkler system, and metal construction. The property is zoned M-2 for the heaviest industrial and manufacturing uses. Located adjacent to the Metra BNSF Aurora Train Yard, the property sits only 2.4 miles south of Interstate 88 via North Lake Street. The subject property is well-positioned within the massive Interstate 88 West submarket, containing 82.7 million square feet of industrial space. In 2025, industrial demand held comfortably in positive territory with 1.0 million square feet absorbed on net. However, net deliveries added 2.1 million square feet of industrial space to the inventory. With supply outpacing demand, the vacancy rate rose to 4.4 percent, but remained well-below the 7.7 percent national average (based on the top 50 metros, classes A, B, C, and a minimum of 10,000 square feet). Despite the increase in availability, annual market rent growth in the Interstate 88 West submarket held steady at 4.3 percent last year, more than twice the national level. With about 1.6 million square feet of industrial space under construction in the submarket, representing 1.9 percent of inventory, vacancies and rents will largely be dictated by industrial 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 9.3 million people, including 2.7 million residents within the city of Chicago. With a population of more than 180,000, the subject city of Aurora ranks as the second-largest in the state. The number of corporate headquarters in Chicago is second only to New York City an

Market Context

This office in Aurora, IL is listed for sale. It is offered at an approximate 10.3% capitalization rate, a key benchmark for income-producing office assets. The building dates to 1943. It has been on the market for 68 days. Compare it against other office listings for sale in Aurora, IL — <a href="/search/sale/office/illinois/aurora">view the full market</a>.

As of Q2 2017, the Denver office market showed average asking rents near $8.40/SF/yr. Source: Consensus Q2 2017 market report.

Unified Estimate

Very Low Confidence

$13.03/SF – $17.63/SF

Mid: $15.33/SF

Rate-first confidence-weighted blend with cost-of-business adjustment.

No local comparable sales were available, so this estimate is transferred from a comparable peer market — treat it as a rough indication only. Transferred from peer market cleveland (similarity: 97%) with 15 comparable listings.

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