Rehabbed Flex Space with Overhead
For Sale
Under Contract
$389,900
10333 Oxford Avenue, Chicago Ridge, IL 60415
Commercial Sale, Chicago Ridge, IL
Property Size2,500 SF
Lot Size0.19 Acres
Price / SF$155.96
Days on Market159
Property Features for 10333 Oxford Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
INDUS
Directions
95th to Ridgeland S to Washington 103rd & Oxford
Subdivision
Chicago Ridge
Standard status
Active Under Contract
APN
24171020140000
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2024
Utilities
Cooling system
Central Air
Building Details
Year built
1972
Floors in Building
1
Number of units
1
Building materials
Brick
Listing Agency:
Infiniti Properties, Inc.
(708) 206-3000
Listed By:
Rima Odeh · License #475102798
(708) 206-3000
Added: Mar 15
Changed: Aug 20
Last Checked: Aug 20 at 10:06AM
MLS# 12592784
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Rehabbed flex space in a solid brick building featuring a reception area, a 38x25 main shop, private office space, employee kitchen, new bathroom, and storage. The property includes one overhead loading garage in the back with potential for two additional overhead doors. The building has 9-foot ceilings and is equipped with central air.
Set on a 0.1928-acre lot at 10333 Oxford Avenue in Chicago Ridge, the site offers 20 parking spaces and is fully fenced. A new heating system is installed, and the fire alarm is hooked to the village. Built in 1972, the property is presented as ready for immediate occupancy.
Zoning for the property is INDUS, supporting a variety of industrial and commercial uses as described in the layout and improvements.
Set on a 0.1928-acre lot at 10333 Oxford Avenue in Chicago Ridge, the site offers 20 parking spaces and is fully fenced. A new heating system is installed, and the fire alarm is hooked to the village. Built in 1972, the property is presented as ready for immediate occupancy.
Zoning for the property is INDUS, supporting a variety of industrial and commercial uses as described in the layout and improvements.
Key Highlights
- 0.1928‑acre fenced lot with 20 parking spaces
- 38x25 main shop plus reception area, private office, kitchen, bathroom, and storage
- 1 overhead loading garage in back with potential for 2 more overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,325
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.75%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$526,500
$526.5K
Cap Rate 7%
$376,071
$376.1K
Cap Rate 9%
$292,500
$292.5K
Market Conditions
NOI Build-Up for 2,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$45.0K $18.00/SF
− Vacancy
−$4.5K −$1.80/SF
EGI
$40.5K $16.20/SF
− OpEx
−$14.2K −$5.67/SF
NOI
$26.3K $10.53/SF
Area
Cook County, IL
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$526,500
Cap Rate 7%
$376,071
Cap Rate 9%
$292,500
Alternative Uses
Best Use
Flex RnD
$376.1K
$329.1K – $438.8K
NOI $26,325 @ 7.0% cap · market cap 6.75%
Second Best
Warehouse
$186.7K
$163.4K – $217.8K
NOI $13,068 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$863.1K
$755.3K – $1.01M
NOI $60,420 @ 7.0% cap · market cap 15.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9 ft
Clear height
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60415, IL
14,433
Population
5,840
Households
2.5
Avg Household Size
37
Median Age
28%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
6,275
Density / Sq Mi
$69,389
Median Household Income
$48,226
Median Earnings
$1,198
Median Rent
$217,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Zoned INDUS flex/industrial building with central air, fenced site, and 20 parking spaces.
Where is this flex space located?
The property is located at 10333 Oxford Avenue Chicago Ridge, IL.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: 0.1928‑acre fenced lot with 20 parking spaces; 38x25 main shop plus reception area, private office, kitchen, bathroom, and storage; 1 overhead loading garage in back with potential for 2 more overhead doors
