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    6166 S Sayre Ave Chicago, IL 60638

    Sponsored
    For Lease
    Contact for pricing

    COMMERCIAL - Chicago, IL

    Property size:
    21,000 SF
    Lot size:
    1.42 Acres
    Days on Market:
    7
    Last Refresh:
    Jan 22 at 12:06 am

    Property Features for 6166 S Sayre Ave

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Zoning
    INDUS
    Size
    21,000 SF
    Lot size
    1.42 Acres

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1974
    Floors in Building
    1
    Number of units
    1

    We can help!

    Listing Contact
    Ned Malley

    Infiniti Properties Inc (708) 206-3000 [email protected]

    Listing agent Ned Malley (708) 296-1295

    Listing date Jan 16, 2026

    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.

    Learn more

    Property Insight Report

    Overview

    Chicago Warehouse with Cranes, Fenced Lot

    This 21,000 square foot warehouse is available for lease. It is located at the corner of 62nd & Sayre Avenue in Chicago, situated in the Harlem Corridor Clearing Industrial Area on the southwest side of the city. The site is just east of 63rd & Harlem Avenue, approximately 5 minutes from Midway Airport and 7 minutes from I-55 access via Harlem Avenue. The property, situated on a 1.42-acre lot, is suitable for distribution, manufacturing, and other warehouse uses. The building includes approximately 1,500 square feet of new office space, with the remainder designated as warehouse space. It features one drive-in overhead door and a double-wide recessed loading dock. The ceiling height ranges from 16 to 20 feet clear height. The warehouse also includes two 3-ton cranes. The fenced lot provides ample parking and outdoor storage. Easy street access is available for truck deliveries and pick-ups.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Temp-Tech Industries Inc Auto Glass Shop

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    GRM Document Management, Professional Freezing II, Kimber Storage Facility, Zimber Self Storage Units, Warehouse

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7966879
    Latitude
    41.7797767

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    FAQs

    What type of property is this?
    Warehouse - 21,000 SF warehouse with cranes, parking, and outdoor storage.
    Where is this warehouse located?
    The property is located at 6166 S Sayre Ave Chicago, IL.
    What are key features of this property?
    This property features: - 21,000 sq ft warehouse space ideal for distribution, manufacturing, and warehouse uses.; - Excellent location: 5 minutes from Midway Airport and 7 minutes from I-55 access.; - Features include one drive-in overhead door, a double-wide recessed loading dock, and two 3-ton cranes.
    (708) 296-1295
    Request Owner's contact information
    6166 S Sayre Ave Chicago, IL 60638
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    Chicago, IL 60638
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    6166 S Sayre Ave Chicago, IL 60638
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    We can help!
    Listing Contact
    Ned Malley
    (708) 296-1295
    Learn more
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