Office for Sale in Elk Grove Village, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Elk Grove Village, IL 60007
  • Year built: 2010

Description

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 2500 Touhy Avenue in Elk Grove Village, Illinois. The subject property consists of approximately 78,917 square feet of flex industrial space and is situated on 3.04 acres of land. The multi-tenant asset features three suites, a clear height up to 32’, three dock-high doors, three grade-level doors, 82 parking spaces, and three-phase heavy power with 800 to 1,200 amps and 240 to 480 volts. Located adjacent to the Chicago O’Hare International Airport, the property sits only 0.6 miles from Interstate 90, which feeds directly into Downtown Chicago. Fully occupied at an average rent of $8.56 per square foot, the asset is occupied by three tenants: ArtVidar Cabinetry, Woodface Company, and Royal Academy of Dance. The subject property is well-positioned within the O’Hare submarket, containing a massive 112.8 million square feet of industrial space. Toward the end of Q2 2025, net absorption in O’Hare contracted by about -823,000 square feet. With no industrial properties being delivered during that time, the vacancy rate increased by 80 basis points on the quarter to 5.3 percent, well below the national average of 7.6 percent (based on top 50 metros, classes A, B, and C, minimum 10,000 square feet). While O’Hare’s annual rent growth has decelerated in recent years, like most markets, local rents have bucked the national trend since the beginning of the year, stabilizing at 4.4 percent in Q2. With less than 500,000 square feet under construction in O’Hare in Q2 (including no comparable projects between 50,000 and 100,000 square feet), supply will have a negligible impact on vacancies and rents 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 secon

Market Context

This office in Elk Grove Village, IL is listed for sale. It is offered at an approximate 7.9% capitalization rate, a key benchmark for income-producing office assets. The building dates to 2010. It has been on the market for 31 days. Compare it against other office listings for sale in Elk Grove Village, IL — <a href="/search/sale/office/illinois/elk-grove-village">view the full market</a>.

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