Brick Flex Building With
For Sale
$699,000
10470 164 Place, Orland Park, IL 60467
Commercial Sale, Orland Park, IL
Property Size4,000 SF
Lot Size1.06 Acres
Price / SF$174.75
Days on Market94
Property Features for 10470 164 Place
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
INDUS
Directions
159th St to 104th Ave to 164th West
Subdivision
Orland Park
Standard status
Active
APN
27204010170000
Lot size
1.06 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
23141
Utilities
Cooling system
Zoned, Central Air
Building Details
Year built
1989
Floors in Building
1
Building materials
Brick
Roof type
Membrane
Listing Agency:
Century 21 Circle · Century 21 Real Estate
(708) 361-0800
Listed By:
Mike McCatty · License #471002650
(708) 398-6400
Added: Jul 15
Changed: Oct 13
Last Checked: Oct 16 at 2:06PM
MLS# 12700037
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.
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Investment Insights
Based on property information with market context.
This 4,000-square-foot brick flex property combines professional office finishes with practical industrial functionality. The interior includes a secured entry vestibule, reception area, two private offices, a kitchenette with extensive cabinetry, and two restrooms, including one with a shower. A newer roof and HVAC system support the building’s existing improvements, while the floor plan can be adapted for office, warehouse, contractor, distribution, or service operations.
The building occupies a 1.06-acre lot in an established industrial area of Orland Park, just south of 159th Street and 104th Avenue, with access to nearby expressways. Electrified shipping containers provide additional storage or workspace and may remain or be removed. A 199-foot leased communication tower is also located on the site and generates income to help offset operating expenses. Zoning is INDUS.
The building occupies a 1.06-acre lot in an established industrial area of Orland Park, just south of 159th Street and 104th Avenue, with access to nearby expressways. Electrified shipping containers provide additional storage or workspace and may remain or be removed. A 199-foot leased communication tower is also located on the site and generates income to help offset operating expenses. Zoning is INDUS.
Key Highlights
- 4,000‑square‑foot brick building on a 1.06‑acre lot
- INDUS zoning in Orland Park’s established industrial area
- Two private offices, reception area, kitchenette, and 2 private restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,153
Cap Rate
7.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,103,060
$1.1M
Cap Rate 7%
$787,900
$787.9K
Cap Rate 9%
$612,811
$612.8K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$97.9K $24.48/SF
− Vacancy
−$24.4K −$6.10/SF
EGI
$73.5K $18.38/SF
− OpEx
−$18.4K −$4.60/SF
NOI
$55.2K $13.79/SF
Area
Cook County, IL
Vacancy
24.90%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,103,060
Cap Rate 7%
$787,900
Cap Rate 9%
$612,811
Alternative Uses
Best Use
Office B
$787.9K
$689.4K – $919.2K
NOI $55,153 @ 7.0% cap · market cap 7.89%
Second Best
Flex RnD
$601.7K
$526.5K – $702.0K
NOI $42,120 @ 7.0% cap · market cap 6.03%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,671 @ 7.0% cap · market cap 13.83%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
813
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60467, IL
26,098
Population
10,055
Households
2.6
Avg Household Size
49
Median Age
45%
College-Educated
96%
High-School Grad
14.8 sq mi
ZIP Area
1,763
Density / Sq Mi
$109,329
Median Household Income
$63,685
Median Earnings
$2,202
Median Rent
$392,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Industrial-zoned commercial building with office improvements, storage capacity, and adaptable space for business operations.
Where is this flex space located?
The property is located at 10470 164 Place Orland Park, IL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 4,000‑square‑foot brick building on a 1.06‑acre lot; INDUS zoning in Orland Park’s established industrial area; Two private offices, reception area, kitchenette, and 2 private restrooms
