180 Shepard Ave 18,712 SF Industrial Building Wheeling, IL 60090 $1,925,000 ($102.88/SF) 9.03% Cap Rate

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 180 Shepard Avenue in Wheeling, Illinois, leased to 1 On 1 Baseball Academy. The subject property consists of approximately 18,712 square feet of warehouse space and is situated on 1.03 acres of land. The single-tenant asset features 15.5’ Clear Height, five grade-level doors, a full sprinkler system, masonry construction, and 200 amps. Located near the Chicago Executive Airport (PWK), the property has proximity to Interstate 294. The tenant is signed to a long-term triple-net lease that runs through June 20, 2034, with 3.0 percent annual escalations. At $9.17 per square foot, the property generates an annual net operating income of $171,648, equating to a 9.03 percent cap rate and an 11.36 percent cash-on-cash day one return. Doing business as Wow Factor Stoppers, the tenant is a premier national player development and showcase organization for baseball youths.
The subject asset is well-positioned within the North Cook submarket that borders Lake Michigan. Home to Northwestern University, North Cook is a massive submarket containing 55.6 million square feet of industrial space. At 59 percent, the submarket consists mostly of logistics facilities, followed by specialized and flex space at 31 percent and 10 percent, respectively. Year-to-date through late December 2025, net absorption remained in positive territory at about 318,000 square feet. During 2025, demolitions outpaced new supply in North Cook as the inventory shrank by nearly -27,000 square feet. As a result, the vacancy rate bucked the national trend, falling by 60 basis points to 6.1 percent, comfortably below the 7.7 percent national average (based on the top 50 metros, minimum 10,000 square feet, and classes A, B, and C). Despite availability tightening in North Cook, annual rent growth slipped to 3.5 percent in Q4 but was more than twice the national level. With only roughly 352,000 square feet of industrial space under construction in the submarket (representing 0.6 percent of inventory), supply will have minimal 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 second only to New York City and is home to 30 Fortune 500 companies. Thanks to eight commercial and passenger rail lines, the Port of Chicago, three international airports, and a vast network of freeways, Chicago is a major distribution and logistics hub. The local economy and workforce are highly diverse, supported largely by distribution, finance, manufacturing, and high-tech industries. As a multicultural city that thrives on the harmony and diversity of its neighborhoods, Chicago boasts 100 neighborhoods, 77 community areas, 50 wards, and eight major league sports teams, including two MLB teams. Chicago is a leader in reforming public schools, enhancing public safety and security initiatives, providing affordable housing in attractive and economically sound communities, ensuring accessibility for all, and fostering, social, economic, and environmental sustainability (Chicago.gov).