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486Ksf Illinois Industrial Massive Value Add! 301 W 3rd St 487,000 SF Vacant Industrial Building Sterling, IL 61081 For Sale
EXECUTIVE SUMMARY
DWG Capital Group, as the exclusive advisor, is pleased to present an exceptional opportunity to acquire The Sterling Landmark—a premier industrial value-add asset located at 301 W 3rd St, Sterling, IL. This expansive property combines strong income-generating potential with substantial upside, situated in a region with robust industrial fundamentals. 301 W 3rd St, Sterling, IL presents a very attractive investment opportunity and ideal for immediate repositioning and profit, please get us your highest and best.
Investment Highlights
Offering Price: $11,975,000 ($24.59/SF)—positioned 67% below recent area comparable sales. (GET US YOUR HIGHEST AND BEST)
Projected Stabilized Net Operating Income (NOI): $1,830,000
Cap Rate (NNN Basis): 7.75%-8%
Adjusted Bank Value (NNN Analysis): $23,612,903, highlighting significant value creation potential.
Strategic Location: Pro-business area with access to major MSAs including Chicago, Quad Cities, Rockford, Milwaukee, and Kansas City.
Property Overview
Building Size: ±486,952 SF on ±7.16 acres
Versatile Use Potential: Ideal for manufacturing, warehousing, distribution, and other high-value industrial applications.
Infrastructure: 18 external dock doors, 3 drive-ins, with extensive power and sprinkler systems for high-capacity operations.
Capital Improvements: Over $3.1M in recent upgrades, including a new 20-year warranty roof.
Pro Forma Analysis
With a projected stabilized NOI of $1,830,000 at a 7.75% cap rate, the asset's adjusted bank valuation is estimated at $23,612,903, providing a compelling value-add proposition. Potential pro forma exit values range between $20M–$23M, equating to approximately $41 to $47 per square foot (PSF). This pricing offers substantial upside and attractive IRR potential for investors.
This is a rare opportunity to acquire a sizable, strategically located industrial asset with VERY favorable acquisition pricing, significant value-add potential, and robust pro forma returns.
We welcome the opportunity to discuss this exclusive offering and explore how it aligns with your investment strategy.
Warm Regards,
Judd Dunning License #01520854
Principal | Broker
DWG Capital Group (formerly Newmark WLA)
310.261.8428 | jdunning@dwg-re.com
PROPERTY FACTS
| Sale Type | Investment | No. Stories | 3 |
| Property Type | Industrial | Year Built | 1970 |
| Property Subtype | Manufacturing | Parking Ratio | 0.12/1,000 SF |
| Building Class | B | Clear Ceiling Height | 15’ |
| Lot Size | 6.00 AC | No. Dock-High Doors/Loading | 18 |
| Rentable Building Area | 487,000 SF | No. Drive In / Grade-Level Doors | 3 |
| Zoning | M-1 - Zoned for traditional commercial use with high levels of electricity, suitable for large machinery. Very facile zoning and pro-business area. | ||
| Sale Type | Investment |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | B |
| Lot Size | 6.00 AC |
| Rentable Building Area | 487,000 SF |
| No. Stories | 3 |
| Year Built | 1970 |
| Parking Ratio | 0.12/1,000 SF |
| Clear Ceiling Height | 15’ |
| No. Dock-High Doors/Loading | 18 |
| No. Drive In / Grade-Level Doors | 3 |
| Zoning | M-1 - Zoned for traditional commercial use with high levels of electricity, suitable for large machinery. Very facile zoning and pro-business area. |
AMENITIES
- 24 Hour Access
- Front Loading
- Signage
- Storage Space
- Air Conditioning
UTILITIES
- Lighting
- Gas - Natural
- Water - City
- Sewer - City
- Heating - Gas
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Transportation and Warehousing
- -
- -
- -
The Warehouse at 301 West is the largest indoor vehicle storage facility in the Midwest. The facility totals over 490,000 sq. ft. and encompasses nearing 7 acres in downtown Sterling. Features include; state of the art security and cameras, pest control and fire protection. The warehouse offers over 100,000 sq. ft. of heated indoor storage and over 300,000 sq. ft. of unheated storage for vehicles, boats, motorcycles, campers and RV's. Our maximum capacity is 700 vehicles. We are also proud to be the lowest cost storage facility in the area.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Transportation and Warehousing | - | - | - |
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
Historic Sterling Landmark Building for Lease Unlock the potential of this iconic Sterling landmark offering up to 487,000 sq ft of versatile industrial space spread across three expansive floors — with suites starting as small as 1,000 sq ft to suit your unique needs. Bring your vision! This flexible property is ideal for manufacturing, storage, loft offices, event venues, restaurants, creative studios, and more. Currently approved for storage use, ownership is ready and willing to collaborate with new tenants to bring the building up to code for a variety of uses in partnership with the city. Features include multiple drive-in doors, loading docks, and ample on-site parking to support a wide range of operations. Situated along the riverfront, this building is perfectly positioned to benefit from Sterling’s major investment in the Sterling Riverfront Development happening just across the river — making this a rare opportunity to be part of the city’s next chapter and reestablish this historic property as a vibrant community asset once again.
Historic Sterling Landmark Building for Lease Unlock the potential of this iconic Sterling landmark offering up to 490,000 sq ft of versatile industrial space spread across three expansive floors — with suites starting as small as 1,000 sq ft to suit your unique needs. Bring your vision! This flexible property is ideal for manufacturing, storage, loft offices, event venues, restaurants, creative studios, and more. Currently approved for storage use, ownership is ready and willing to collaborate with new tenants to bring the building up to code for a variety of uses in partnership with the city. Features include multiple drive-in doors, loading docks, and ample on-site parking to support a wide range of operations. Situated along the riverfront, this building is perfectly positioned to benefit from Sterling’s major investment in the Sterling Riverfront Development happening just across the river — making this a rare opportunity to be part of the city’s next chapter and reestablish this historic property as a vibrant community asset once again.
Historic Sterling Landmark Building for Lease Unlock the potential of this iconic Sterling landmark offering up to 490,000 sq ft of versatile industrial space spread across three expansive floors — with suites starting as small as 1,000 sq ft to suit your unique needs. Bring your vision! This flexible property is ideal for manufacturing, storage, loft offices, event venues, restaurants, creative studios, and more. Currently approved for storage use, ownership is ready and willing to collaborate with new tenants to bring the building up to code for a variety of uses in partnership with the city. Features include multiple drive-in doors, loading docks, and ample on-site parking to support a wide range of operations. Situated along the riverfront, this building is perfectly positioned to benefit from Sterling’s major investment in the Sterling Riverfront Development happening just across the river — making this a rare opportunity to be part of the city’s next chapter and reestablish this historic property as a vibrant community asset once again.
| Space | Size | Space Use | Condition | Available |
| Basement | 162,366 SF | Industrial | - | Now |
| 1st Floor | 162,317 SF | Industrial | - | Now |
| 2nd Floor | 162,317 SF | Industrial | - | Now |
Basement
| Size |
| 162,366 SF |
| Space Use |
| Industrial |
| Condition |
| - |
| Available |
| Now |
1st Floor
| Size |
| 162,317 SF |
| Space Use |
| Industrial |
| Condition |
| - |
| Available |
| Now |
2nd Floor
| Size |
| 162,317 SF |
| Space Use |
| Industrial |
| Condition |
| - |
| Available |
| Now |
Basement
| Size | 162,366 SF |
| Space Use | Industrial |
| Condition | - |
| Available | Now |
Historic Sterling Landmark Building for Lease Unlock the potential of this iconic Sterling landmark offering up to 487,000 sq ft of versatile industrial space spread across three expansive floors — with suites starting as small as 1,000 sq ft to suit your unique needs. Bring your vision! This flexible property is ideal for manufacturing, storage, loft offices, event venues, restaurants, creative studios, and more. Currently approved for storage use, ownership is ready and willing to collaborate with new tenants to bring the building up to code for a variety of uses in partnership with the city. Features include multiple drive-in doors, loading docks, and ample on-site parking to support a wide range of operations. Situated along the riverfront, this building is perfectly positioned to benefit from Sterling’s major investment in the Sterling Riverfront Development happening just across the river — making this a rare opportunity to be part of the city’s next chapter and reestablish this historic property as a vibrant community asset once again.
1st Floor
| Size | 162,317 SF |
| Space Use | Industrial |
| Condition | - |
| Available | Now |
Historic Sterling Landmark Building for Lease Unlock the potential of this iconic Sterling landmark offering up to 490,000 sq ft of versatile industrial space spread across three expansive floors — with suites starting as small as 1,000 sq ft to suit your unique needs. Bring your vision! This flexible property is ideal for manufacturing, storage, loft offices, event venues, restaurants, creative studios, and more. Currently approved for storage use, ownership is ready and willing to collaborate with new tenants to bring the building up to code for a variety of uses in partnership with the city. Features include multiple drive-in doors, loading docks, and ample on-site parking to support a wide range of operations. Situated along the riverfront, this building is perfectly positioned to benefit from Sterling’s major investment in the Sterling Riverfront Development happening just across the river — making this a rare opportunity to be part of the city’s next chapter and reestablish this historic property as a vibrant community asset once again.
2nd Floor
| Size | 162,317 SF |
| Space Use | Industrial |
| Condition | - |
| Available | Now |
Historic Sterling Landmark Building for Lease Unlock the potential of this iconic Sterling landmark offering up to 490,000 sq ft of versatile industrial space spread across three expansive floors — with suites starting as small as 1,000 sq ft to suit your unique needs. Bring your vision! This flexible property is ideal for manufacturing, storage, loft offices, event venues, restaurants, creative studios, and more. Currently approved for storage use, ownership is ready and willing to collaborate with new tenants to bring the building up to code for a variety of uses in partnership with the city. Features include multiple drive-in doors, loading docks, and ample on-site parking to support a wide range of operations. Situated along the riverfront, this building is perfectly positioned to benefit from Sterling’s major investment in the Sterling Riverfront Development happening just across the river — making this a rare opportunity to be part of the city’s next chapter and reestablish this historic property as a vibrant community asset once again.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $590,443 | |
| Land Assessment | $58,029 | Total Assessment | $648,472 |
PROPERTY TAXES
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486Ksf Illinois Industrial Massive Value Add! | 301 W 3rd St
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