Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    17506 Chicago Ave Lansing, IL 60438

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $3,500,000

    Newly completed self-storage facility in Chicago MSA, 84% leased.

    Property size:
    18,742 SF
    Lot size:
    0.40 Acres

    Property Features for 17506 Chicago Ave

    General Information

    Size
    18,742 SF
    Lot size
    0.40 Acres

    We can help!

    Listing Contact
    Daniel Lynch
    Source: Moodyscre

    Listing Agent: Daniel Lynch

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Lansing Self Storage For Sale

    Lansing Self Storage, located in the Chicago IL MSA, is offered for sale. This single-story conversion was completed in October 2023 and features 229 units, totaling 18,742 net rentable square feet. The facility is 84% leased in 18 months. The facility features 100% climate-controlled units. It operates as Remote Managed, but has an on-site professional management office, full security, keypad access, and 24-hour video surveillance. The subject facility is achieving tremendous rents and is outperforming the older REIT product.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    U-Haul Neighborhood Dealer Trailer Rental Service Lansing Self Storage Self-Storage Facility

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Cook
    State
    Illinois
    Longitude
    -87.5446228
    Latitude
    41.5770571

    Nearby Similar for Sale

    • $4,750,000
      4.88 Acres

      Lansing Trucking Terminal For Sale

      Trucking terminal on 4.88 acres with 130 trailer stalls.
      17735 Chappel Ave, Lansing, IL 60438
      View Details
    • $385,000
      0.11 Acres

      Lansing Mixed-Use Investment Opportunity

      Updated mixed-use property with residential and commercial units for sale.
      3601 Ridge Rd, Lansing, IL 60438
      View Details
    • $725,000
      0.18 Acres

      Remodeled Lansing Commercial Property

      Remodeled bar/restaurant with apartment and outdoor patio.
      3323 Ridge Rd, Lansing, IL 60438
      View Details
    • $569,000

      Established Business Opportunity in Lansing

      Generational business for sale with equipment and goodwill included.
      19510 Burnham Ave, Lansing, IL 60438
      View Details
    • $355,000
      0.14 Acres

      Lansing Commercial Property For Sale

      Commercial property ideal for mechanic workshop with parking.
      17809 Torrence Ave, Lansing, IL 60438
      View Details
    • $259,900
      0.09 Acres

      Lansing Commercial Office Building

      Five-unit commercial office building in downtown Lansing, Illinois.
      3436 Ridge Rd, Lansing, IL 60438
      View Details
    • $750,000
      7,560 SF

      Industrial Warehouse with Expansion Potential

      7,560 SF industrial warehouse on 4.47 acres near major highways.
      3125 Glenwood Lansing Rd, Lansing, IL 60438
      View Details
    • $164,900

      Spacious Condo with Water Views

      Charming condo with pond and lake views from private balcony.
      3640 186Th St, Lansing, IL 60438
      View Details
    • $2,500,000
      4,214 SF

      Chase Bank NNN Investment Property

      NNN leased Chase Bank investment property for sale.
      16767 Torrence Ave, Lansing, IL 60438
      View Details
    • $1,800,000
      1,726 SF

      Retail Property in Lansing, IL

      Retail property available for sale in Lansing, Illinois.
      18000 Torrence Ave, Lansing, IL 60438
      View Details
    • $925,000
      15,961 SF

      Lansing Retail, Office, Warehouse Property

      Multi-tenant retail, office, and warehouse property in downtown Lansing.
      3513-3517 Rdg Rd And 18241-18259 St West, Lansing, IL 60438
      View Details
    • $750,000
      7,500 SF

      Lansing Industrial Building - For Sale/Lease

      7,500 sq ft Warehouse, Office Space Available
      17591 Paxton Ave, Lansing, IL 60438
      View Details

    FAQs

    What type of property is this?
    Self storage facility - Newly completed self-storage facility in Chicago MSA, 84% leased.
    Where is this self storage facility located?
    The property is located at 17506 Chicago Ave Lansing, IL.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: - High Occupancy: 84% leased in only 18 months.; - Newly Constructed: Completed in October 2023.; - 100% of units are climate-controlled.
    (312) 543-7762
    Request Owner's contact information
    17506 Chicago Ave Lansing, IL 60438
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    17506 Chicago Ave
    Lansing, IL 60438
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    17506 Chicago Ave Lansing, IL 60438
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Daniel Lynch
    (312) 543-7762
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.