Brick Flex Space With
For Sale
$699,000
10470 164th Pl, Orland Park, IL 60467
Brick commercial building with private offices, kitchenette, restrooms, and adaptable space for industrial and service operations.
Property Size4,000 SF
Price / SF$174.75
Days on Market104
Property Features for 10470 164th Pl
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Commercial
Building Details
Year Built
1989
Listing Agency:
Century 21 Circle
Listed By:
Mike McCatty · License #471002650
(708) 398-6400
Source:
Searchillinoishomesforsale
Added: Jul 14
Changed: Oct 10
Last Checked: Oct 24 at 4:59PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Circle
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Investment Insights
Based on property information with market context.
This 4,000-square-foot brick flex property occupies a 1-acre lot and was built in 1989. The interior includes a secure vestibule, reception area, two private offices, a kitchenette with storage, and two private restrooms, including one with a shower. A newer roof and HVAC system support the building’s existing condition, while the flexible layout can accommodate office, warehouse, contractor, distribution, or service-oriented operations. The property is industrially zoned and includes shipping containers with electricity that may remain or be removed.
An on-site 199-foot leased communication tower provides an additional income source. The property is located at 10470 164th Pl in Orland Park, just south of 159th Street and 104th Avenue, with access to nearby expressways and an established industrial corridor.
An on-site 199-foot leased communication tower provides an additional income source. The property is located at 10470 164th Pl in Orland Park, just south of 159th Street and 104th Avenue, with access to nearby expressways and an established industrial corridor.
Key Highlights
- 4,000‑square‑foot brick flex building on a 1‑acre lot
- Industrial zoning supports a range of commercial operations
- Two private offices, kitchenette, reception area, and two restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,120
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$842,400
$842.4K
Cap Rate 7%
$601,714
$601.7K
Cap Rate 9%
$468,000
$468.0K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$72.0K $18.00/SF
− Vacancy
−$7.2K −$1.80/SF
EGI
$64.8K $16.20/SF
− OpEx
−$22.7K −$5.67/SF
NOI
$42.1K $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 Rate 5%
$842,400
Cap Rate 7%
$601,714
Cap Rate 9%
$468,000
Alternative Uses
Best Use
Flex RnD
$601.7K
$526.5K – $702.0K
NOI $42,120 @ 7.0% cap · market cap 6.03%
Second Best
Warehouse
$298.7K
$261.4K – $348.5K
NOI $20,908 @ 7.0% cap · market cap 2.99%
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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Current Use
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 Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Brick commercial building with private offices, kitchenette, restrooms, and adaptable space for industrial and service operations.
Where is this flex space located?
The property is located at 10470 164th Pl 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 flex building on a 1‑acre lot; Industrial zoning supports a range of commercial operations; Two private offices, kitchenette, reception area, and two restrooms
