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827 W Progress Dr 30,000 SF Industrial Building Dixon, IL 61021 $2,100,000 ($70/SF) 6.75% Cap Rate
INVESTMENT HIGHLIGHTS
- 30,000 SF industrial facility on 9.94 Acres.
- Excess land for future development.
- Strong location near I-88 with access to major regional markets.
- Single Tenant lease through 3/31/2032.
- Flexible configuration allows for multitenant conversion.
- Stable cash flow in a supply-constrained market.
EXECUTIVE SUMMARY
Colliers is pleased to present the opportunity to acquire a single-tenant industrial facility located at 827 Progress Drive in Dixon, Illinois. This 30,000-square-foot building is strategically positioned on 9.94 acres, offering both stable in-place income and long-term potential for value enhancement
The property is leased to a credit worthy long-term tenant with a lease in place through March 31, 2032, providing secure and predictable cash flow. Zoned for Light Manufacturing, the building includes 1 dock door and 2 drive-in doors, making it suitable for a wide range of industrial uses.
With approximately 5.8 Acres of excess land available on-site, there is a compelling opportunity for future expansion or additional development. The property’s flexible layout also allows for potential multi-tenant conversion, enhancing its long-term adaptability and value.
Ideally located near I-88 and key regional highways, the asset offers excellent access to major Midwest markets including Chicago, Rockford, and the Quad Cities. Dixon’s industrial market remains tight, with limited supply supporting rental stability and long-term demand.
The property is leased to a credit worthy long-term tenant with a lease in place through March 31, 2032, providing secure and predictable cash flow. Zoned for Light Manufacturing, the building includes 1 dock door and 2 drive-in doors, making it suitable for a wide range of industrial uses.
With approximately 5.8 Acres of excess land available on-site, there is a compelling opportunity for future expansion or additional development. The property’s flexible layout also allows for potential multi-tenant conversion, enhancing its long-term adaptability and value.
Ideally located near I-88 and key regional highways, the asset offers excellent access to major Midwest markets including Chicago, Rockford, and the Quad Cities. Dixon’s industrial market remains tight, with limited supply supporting rental stability and long-term demand.
PROPERTY FACTS
| Price | $2,100,000 | Rentable Building Area | 30,000 SF |
| Price Per SF | $70 | No. Stories | 1 |
| Sale Type | Investment | Year Built | 1980 |
| Cap Rate | 6.75% | Tenancy | Single |
| Property Type | Industrial | Clear Ceiling Height | 18’ |
| Property Subtype | Manufacturing | No. Dock-High Doors/Loading | 1 |
| Building Class | C | No. Drive In / Grade-Level Doors | 2 |
| Lot Size | 9.94 AC | ||
| Zoning | LM - Light Manufacturing | ||
| Price | $2,100,000 |
| Price Per SF | $70 |
| Sale Type | Investment |
| Cap Rate | 6.75% |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | C |
| Lot Size | 9.94 AC |
| Rentable Building Area | 30,000 SF |
| No. Stories | 1 |
| Year Built | 1980 |
| Tenancy | Single |
| Clear Ceiling Height | 18’ |
| No. Dock-High Doors/Loading | 1 |
| No. Drive In / Grade-Level Doors | 2 |
| Zoning | LM - Light Manufacturing |
AMENITIES
- Fenced Lot
UTILITIES
- Heating
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Construction
- -
- -
- -
SPX Cooling Tech, LLC is a leading global manufacturer of cooling towers, evaporative fluid coolers, evaporative condensers and air cooled heat exchangers. For a century, we have provided exceptional quality equipment and service to the HVAC, process cooling, industrial, and refrigeration markets.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
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|
Construction | - | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 18-08-16-100-008 | Improvements Assessment | $214,300 |
| Land Assessment | $120,291 | Total Assessment | $334,591 |
PROPERTY TAXES
Parcel Number
18-08-16-100-008
Land Assessment
$120,291
Improvements Assessment
$214,300
Total Assessment
$334,591
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827 W Progress Dr
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