135 Martin LnElk Grove Village, IL 60007
Two-unit brick industrial on 0.66 acre: 4,200 SF available now, 7,200 SF leased to June 2027. Semi-truck dock, two drive-ins, 1.1 miles to I-90. $1,300,000.
Occupy 4,200 SF now, collect rent on 7,200 SF, take it all in 2027
135 Martin Lane is an approximately 11,400 SF one-story brick industrial building on 0.66 acre in Elk Grove Village, offered at $1,300,000 — $114 per square foot. The building is divided into two units with separate entrances. Unit B (131 Martin Lane), approximately 4,200 SF with the semi-truck dock, is vacant and available at closing. Unit A (135 Martin Lane), approximately 7,200 SF, is leased to Tri-State Hydraulics, an Elk Grove Village hydraulic repair company in business since 1973, through June 30, 2027 at $4,350 per month with no renewal options.
At this size an owner-user is usually choosing between a multi-tenant condo bay with no yard and a freestanding building that is all or nothing on day one. This is the middle: move into 4,200 SF with a semi-truck dock now, let the tenant next door help carry the building for the next year, and take the whole 11,400 SF when the lease ends — or keep both units leased. One block off Higgins Road, 1.1 miles from I-90 at Arlington Heights Road, inside the largest industrial park in North America.
Take the tour
See it in motion
Property highlights
Unit A has a warehouse of approximately 59' x 88' with a 12' drive-in door, a foreman's office looking into the warehouse, a front office, private offices, a kitchenette, a mezzanine, and office and warehouse restrooms; its furnace, evaporator coil and 4-ton rooftop condenser were replaced in July 2026. Unit B has a warehouse of approximately 34' x 88' with a 10' drive-in door at the rear, a semi-truck loading dock, overhead warehouse heaters, a front office, a private office with a window into the warehouse, and two restrooms. Brick masonry construction, steel deck roof on bar joists, approximately 14' clear. Unit B's service section carries three-phase power — two 200-amp three-phase panels and a 100-amp three-phase tap per the panel labels; Unit A's service to be verified. The roof is a mechanically attached TPO system installed in 2007 (GAF EverGuard, 110 squares), inspected in 2025-26 and graded fair. Buyer to verify all dimensions and systems.
Unit B (131 Martin) — available at closing
Warehouse approx. 34' x 88' with a 10' rear drive-in door and a semi-truck loading dock; overhead warehouse heaters; three-phase power (two 200-amp panels and a 100-amp tap per the panel labels); front office, private office with a warehouse window, two restrooms.
Unit A (135 Martin) — leased to June 30, 2027
Warehouse approx. 59' x 88' with a 12' front drive-in door; foreman's office over the warehouse floor, front office, private offices, kitchenette, mezzanine, office and warehouse restrooms; new HVAC July 2026. Tenant: Tri-State Hydraulics, $4,350/month, modified gross, no options.
Site
About 250' deep: paved parking in front, a paved yard behind the building. Cook County Class 5-93; 2025 real estate taxes $47,683. Not in a TIF district; not in a FEMA flood zone.
Layout at a glance
Schematic; dimensions approximate; buyer to verify.
Documented income, defined upside
The price, the lease and the public record. Lease figures are from the executed 2018 lease and its 2024 extension; taxes from the 2025 Cook County bill; size from the Cook County Assessor. Buyer to verify in due diligence.
| Line Item | Amount | Note |
|---|---|---|
| Asking Price | $1,300,000 | Both units, one PIN |
| Price per SF (building) | $114 | 11,400 SF marketed (Assessor carries 10,910 SF) |
| Price per SF (land) | $45 | 28,750 SF (0.66 AC) |
| Unit A rent | $4,350 / month | $52,200 / yr, approx. 7,200 SF, through 06/30/2027 |
| Lease type | Modified gross | Tenant pays utilities, maintenance, and taxes above a $2.50/SF base |
| Options / guaranty | None / none | Extension signed 05/2024, no further renewal right |
| Real estate taxes (2025, payable 2026) | $47,683 | $4.18 / SF; Class 5-93; tax code 16035 |
| Real estate taxes (2024) | $41,118 | |
| Assessor estimated market value (2025) | $826,600 | Assessed value $206,650 after the Board of Review |
| Lease expiration | June 30, 2027 |
| Leased / available | 7,200 SF / 4,200 SF |
| Taxes per SF (2025) | $4.18 |
| Land | 0.66 AC |
The in-place lease covers about two-thirds of the building for about ten more months and is priced below the Cook County Assessor's own 2025 income model for the parcel ($13.20/SF market rent, a model input rather than a lease). This is an owner-user or value-add purchase, not a yield purchase; no cap rate is represented.
Ways to own it
Owner-user, phased
Occupy Unit B and its truck dock at closing, collect $4,350 a month from Unit A, and take the full 11,400 SF when the lease ends June 30, 2027 — or sooner by agreement with the tenant, who has said it would like to stay.
Owner-user, all at once in 2027
Buy now at today's price, let the tenant carry the building through mid-2027, and move a 10,000 SF operation into a single-story brick building with a dock, two drive-ins and three-phase power.
Value-add investor
Lease Unit B now and re-lease Unit A at market at expiration; both units have their own office, restrooms and loading. Buyer to verify market rents.
Class 6B
Five parcels on this block carry Cook County's 6B industrial incentive; whether this building qualifies for a new 6B on substantial rehabilitation or re-occupancy is a buyer question for the Assessor and the Village.
Ideal uses under I-1 Restricted Industrial
Well suited to a range of approved uses under I-1 Restricted Industrial zoning — confirm your specific use and parking with the municipality.
Check any address against the village code with the Commercial Zoning Lookup →
Location & surroundings
Martin Lane sits in the industrial pocket between Higgins Road (IL 72) and the Jane Addams Tollway, one block south of Higgins and a mile from the I-90 interchange at Arlington Heights Road. The Elk Grove Technology Park (three buildings, 402,608 SF) is a third of a mile away, and the Elk Grove Business Park — the largest industrial park in North America at 3,800 acres and 62 million square feet — surrounds it. Half a mile west on Higgins Road, the Village approved a $1 billion, 150-megawatt Prime Data Centers campus of three buildings totaling more than 750,000 square feet (Village of Elk Grove Village). Elk Grove Village holds 53,112 jobs inside village limits, 47.6% of them in manufacturing, wholesale trade and transportation and warehousing (U.S. Census Bureau, LEHD LODES 2023).
Drive times from the door: I-90 at Arlington Heights Road 1.1 miles, I-90 at Elmhurst Road 2.5 miles, I-290 at Higgins Road 2.7 miles, IL-390 at Busse Road 3.8 miles, Woodfield 4.3 miles, I-294 at Touhy Avenue 6.6 miles, O'Hare's cargo area 6.8 miles, and downtown Chicago about 23 miles. Higgins Road carries 24,000 to 28,100 vehicles a day, Busse Road 30,500 and Arlington Heights Road 29,700 to 43,000 (Illinois Department of Transportation, 2025 average annual daily traffic).
Buyer questions
What is leased and what is available at 135 Martin Lane?+
Unit B (131 Martin Lane), approximately 4,200 SF with the semi-truck dock, is vacant and available at closing. Unit A (135 Martin Lane), approximately 7,200 SF, is leased to Tri-State Hydraulics, Inc. through June 30, 2027 at $4,350 per month under a 2018 lease extended in 2024 with no further renewal right; the tenant has said it would like to stay. Buyer to verify.
What does the tenant pay under the lease?+
The lease is modified gross. The tenant pays its own utilities, routine maintenance, lawn care and snow removal, and reimburses real estate taxes above $2.50 per square foot on 7,200 SF. The landlord holds the roof, structure and capital HVAC. There is no personal guaranty. The executed lease and extension are available for review.
What is the zoning at 135 Martin Lane, Elk Grove Village?+
I-1 Restricted Industrial, Village of Elk Grove Village. Warehousing, wholesale sales, light assembly, limited and general manufacturing, clean manufacturing, precision engineering, laboratories, data centers and professional offices are permitted by right; equipment sales and rental, vehicle and truck repair, outdoor storage and trade schools are conditional uses without a public hearing. Buyer to verify its intended use with the Village.
What are the real estate taxes?+
The 2025 tax bill (payable 2026) is $47,683.10, about $4.18 per square foot, up from $41,117.70 in 2024, on a Board of Review assessed value of $206,650 (Cook County Class 5-93, tax code 16035, rate 7.615%). The tenant reimburses the portion above $2.50 per square foot on its 7,200 SF.
What is the condition of the roof and HVAC?+
The roof is a mechanically attached TPO system installed in August 2007 under a 15-year GAF guarantee that expired in 2022; a 2025-26 inspection graded it fair and recommended about $1,900 of immediate repairs. Unit A received a new furnace, evaporator coil and 4-ton condenser in July 2026. Unit B is heated by overhead warehouse heaters. Buyer to verify all systems.
How close is 135 Martin Lane to the expressways and O'Hare?+
I-90 at Arlington Heights Road is 1.1 miles, I-90 at Elmhurst Road 2.5 miles, I-290 at Higgins Road 2.7 miles, IL-390 at Busse Road 3.8 miles, I-294 at Touhy Avenue 6.6 miles, and O'Hare's cargo area 6.8 miles.
What power does the building have?+
Three-phase. Unit B's service section carries two 200-amp three-phase panels and a 100-amp three-phase tap, per the panel labels. Unit A's service is to be verified; the county record does not carry electrical data. Buyer to verify with an electrician.
Is there a floor plan and a video?+
Yes. A schematic floor plan is on this page, and Jason Bitton's video walkthrough is at https://youtu.be/jleViAC4nuM.
Interested in this property?
Contact Jason for tour scheduling, terms, and availability.
Run the numbers on this property →Jason Bitton · RE/MAX Commercial · #1 RE/MAX Commercial broker in Illinois (2022, 2024, 2025)