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    Franklin Park Industrial Building For Sale Title is generated by Realmo AI

    1061 Waveland Avenue, Franklin Park, IL 60131

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    New
    For Sale
    $999,900

    COMMERCIAL - Franklin Park, IL

    Property size:
    1,650 SF
    Lot size:
    0.81 Acres
    Price / SF:
    $606/SF
    Added:
    May 23, 2026
    Days on Market:
    3
    Last Refresh:
    May 25 at 2:06 am

    Property Features for 1061 Waveland Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    INDUS
    Standard status
    Active
    APN
    12191001271002
    Size
    1,650 SF
    Lot size
    0.81 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    25523

    Utilities

    Utilities
    Natural Gas Available
    Cooling system
    Central Air

    Building Details

    Year built
    1976
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Concrete, Carpet
    Building materials
    Brick

    We can help!

    Listing Contact
    Israel Rivera

    Listing agent Israel Rivera

    Listing office ERA Partners 450 E. 22nd St. #176, Oakbrook Terrace, IL

    Listing date May 23, 2026

    MLS# 12593747

    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.

    HighLights

    • Highly desirable location in Franklin Park with convenient access to I‑294, I‑90 & I‑290
    • All‑brick industrial building suitable for transportation, distribution, or industrial use
    • Loading dock and oversized overhead doors for efficient operations
    • Double height ceiling in warehouse
    • 1,650 sq. ft. of office space on 2nd floor
    • Lease option available

    Overview

    This is a versatile all-brick industrial building for sale, situated in a desirable area of Franklin Park, Illinois. The property benefits from its convenient proximity to major interstates and roads, including I-294, I-90, and I-290. The building features a loading dock and oversized overhead doors. The warehouse area includes a double-height ceiling and 1,650 square feet of office space located on the second floor. There are a total of three bathrooms and a kitchen area. The property, situated on a 0.81-acre lot, is suitable for transportation, distribution, or industrial use, offering excellent functionality and strong logistical advantages.
    Property Profile Location Intelligence

    Current Use by Public Records

    Rvr Transportation Inc Moving Company Concrete and crack injecting ... Interior Design

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Pharmacy Auto Parts Store Gym & Fitness Center

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

    Similar Places Nearby

    • 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
    • Reebie Databank — 3310 Mannheim Rd STE 100, Franklin Park, IL 60131

    Location Insight

    • Map
    • Local Demand
    City
    Franklin Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.918716
    Latitude
    41.945397

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    FAQs

    What type of property is this?
    Warehouse - Versatile industrial building in Franklin Park with logistical advantages.
    Where is this warehouse located?
    The property is located at 1061 Waveland Avenue Franklin Park, IL.
    What is the asking price?
    The asking price for this property is $999,900.
    What are key features of this property?
    This property features: Highly desirable location in Franklin Park with convenient access to I‑294, I‑90 & I‑290; All‑brick industrial building suitable for transportation, distribution, or industrial use; Loading dock and oversized overhead doors for efficient operations
    (630) 560-1001
    We can help!
    Listing Contact
    Israel Rivera
    Request Owner's contact information
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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.

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    1061 Waveland Avenue, Franklin Park, IL 60131
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