Property Description

204 Northwest Hwy is a 7,389 SF single-story, single-tenant commercial building on a 13,603 SF (0.31-acre) lot in downtown Fox River Grove, on the north side of Northwest Highway (US 14) directly across from the Fox River Grove Metra station, offered at $1,200,000. The building is leased to American Calibration, LLC, an ANAB-accredited calibration laboratory founded in 1992 and acquired in September 2023 by Concept, a portfolio company of the private-equity firm Goldner Hawn. Base rent is $90,000 per year ($7,500 per month), flat through the initial term ending January 12, 2028, with two 2-year options at x1.05 of the prior rent ($94,500, then $99,225). The tenant reimburses real estate taxes (monthly estimate, annual true-up) and the landlord's property-insurance premium, pays its own utilities and routine maintenance of the systems, lot and walks; the landlord holds the structure, exterior walls, roof, and the replacement of and capital repairs to building systems, plus its own liability policy. No guaranty, purchase option or right of first refusal. At the asking price the building is a .075 capitalization rate on base rent, $162 per square foot of building and $88 per square foot of land. The building was fitted out in 2024-25 as a calibration laboratory. A glass-fronted lobby and showroom with reception desk and waiting area, two of the building's seven offices with large windows on Route 14, two front restrooms, a kitchenette, the other private offices, a conference room set up for video conferencing, a workstation area, and four labs: three with window views, the largest of them the main lab and production floor in the middle of the building, and a workshop lab at the rear, with an auxiliary room and two shipping rooms served by one exterior drive-in door (about 8 feet; the 2023 MLS listing recorded a 9-foot door) and three interior overhead doors. LED lighting and recessed cans throughout, new paint and flooring, key-fob doors, occupancy-sensor lighting, and a recent full sprinkler system with a new fire-service line. Three-phase power: a 400-amp, 120/240-volt main service with a transformer feeding 120/208-volt distribution panels (per the equipment labels), and a Carrier 5-ton evaporator coil with a Payne gas furnace manufactured in 2022. Ceiling height was recorded at 10'10 in the 2023 MLS listing. The flat roof was replaced under Rx Roofing & Construction's invoice dated April 1, 2026: tear-off to the deck, 5.2 inches of mechanically fastened insulation, tapered insulation at the east and north corners, a fully adhered 60-mil TPO membrane and new metal copings, under a 10-year labor and 20-year material warranty, paid in full. Block and masonry construction, built 1952. Twelve on-site parking spaces plus the Village's municipal commuter lot directly behind the property. Northwest Highway carries about 25,700 vehicles per day at the property, including about 1,100 trucks (Illinois Department of Transp

Property Features