Industrial
New
For Sale
$1,789,000
10421 Franklin Avenue, Franklin Park, IL 60131
Commercial Sale, Franklin Park, IL
Property Size21,000 SF
Lot Size1.01 Acres
Price / SF$85.19
Days on Market4
Property Features for 10421 Franklin Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Directions
Belmont Ave.-corner of Williams Ave. at Franklin Ave. Belmont Ave. at Ruby St.- Franklin Ave. to address at Williams St.
Subdivision
Franklin Park
Standard status
Active
APN
12204020200000
Lot size
1.01 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
80994
Utilities
Cooling system
Ceiling Fan(s)
Building Details
Year built
1965
Floors in Building
1
Number of units
1
Building materials
Concrete, Brick
Listing Agency:
Century 21 Circle · Coldwell Banker Real Estate
(773) 465-4200
Listed By:
Mark Ahmad · License #471007186
(312) 513-4490
Added: Oct 2
Last Checked: Oct 5 at 11:06AM
MLS# 12771285
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.
This industrial warehouse property sits on 1.01 acres and was built in 1965. Its construction materials include concrete and brick, and ceiling fans provide cooling. The property is zoned COMMR and is located at Franklin Avenue and Williams Street in Franklin Park.
Regional routes include I-294, I-290, I-90, I-190, and the Elgin-O’Hare Expressway/I-490 system, along with Mannheim Road, Irving Park Road, North Avenue, Grand Avenue, and River Road. O’Hare International Airport is nearby. The surrounding area includes industrial, manufacturing, warehousing, distribution, freight-forwarding, and logistics businesses. Metra commuter service and freight operations are also part of the area’s transportation network.
Regional routes include I-294, I-290, I-90, I-190, and the Elgin-O’Hare Expressway/I-490 system, along with Mannheim Road, Irving Park Road, North Avenue, Grand Avenue, and River Road. O’Hare International Airport is nearby. The surrounding area includes industrial, manufacturing, warehousing, distribution, freight-forwarding, and logistics businesses. Metra commuter service and freight operations are also part of the area’s transportation network.
Key Highlights
- 1.01‑acre parcel
- Built in 1965
- Concrete and brick construction
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
$109,769
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
6.14%
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%
$2,195,380
$2.2M
Cap Rate 7%
$1,568,129
$1.6M
Cap Rate 9%
$1,219,656
$1.2M
Market Conditions
NOI Build-Up for 21,000 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
$136.1K $6.48/SF
− Vacancy
−$6.9K −$0.33/SF
EGI
$129.1K $6.15/SF
− OpEx
−$19.4K −$0.92/SF
NOI
$109.8K $5.23/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
15.00%
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%
$2,195,380
Cap Rate 7%
$1,568,129
Cap Rate 9%
$1,219,656
Alternative Uses
Best Use
Warehouse
$1.57M
$1.37M – $1.83M
NOI $109,769 @ 7.0% cap · market cap 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.25M
$6.34M – $8.46M
NOI $507,524 @ 7.0% cap · market cap 28.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
557
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60131, IL
18,205
Population
6,120
Households
3
Avg Household Size
39
Median Age
19%
College-Educated
77%
High-School Grad
5.4 sq mi
ZIP Area
3,371
Density / Sq Mi
$76,404
Median Household Income
$39,117
Median Earnings
$1,092
Median Rent
$261,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- All My Sons Moving & Storage — 2740 Mannheim Rd, Franklin Park, IL 60131
- StorageMart — 3100 N Mannheim Rd, Franklin Park, IL 60131
- StorageMart — 3100 mannheim rd, franklin park, il 60131
- O'Hare Record Retention Center — 10800 Belmont Ave Suite 300, Franklin Park, IL 60131
- Allied Van Lines — 10423 W Franklin Ave Ste 400, Franklin Park, IL 60131
Frequently Asked Questions
What type of property is this?
Warehouse - COMMR-zoned property occupies a 1.01-acre parcel in an established industrial area.
Where is this warehouse located?
The property is located at 10421 Franklin Avenue Franklin Park, IL.
What is the asking price?
The asking price for this property is $1,789,000.
What are key features of this property?
This property features: 1.01‑acre parcel; Built in 1965; Concrete and brick construction
