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    Morton Grove Industrial Facility Title is generated by Realmo AI

    7840-7860 Lehigh Ave, Morton Grove, IL

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    Recently constructed industrial facility with heavy duty features and parking.

    Type:INDUSTRIAL
    Property size:
    120,000 SF
    Lot size:
    4.43 Acres
    Added:
    Feb 20, 2025
    Days on Market:
    470
    Last Refresh:
    May 20 at 8:24 pm

    Property Features for 7840-7860 Lehigh Ave

    General Information

    Standard status
    Active
    Size
    120,000 SF
    Lot size
    4.43 Acres
    Property subtype
    INDUSTRIAL

    Spaces For Lease

    at 7840-7860 Lehigh Ave Contact us

    We can help!

    Listing Contact
    John Joyce
    John Joyce

    Listing agent John Joyce License #475148534

    Listing office SVN | Chicago Industrial

    Listing date Feb 20, 2025

    Source Moodyscre

    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 SVN | Chicago Industrial

    HighLights

    • Extensive Crane System: Features 20+ boom cranes and 10 overhead cranes, ideal for heavy industrial operations.
    • High Power Capacity: Equipped with 2000 Amps and located next to ComEd high tension lines, allowing for power expansion.
    • Ample Parking: Includes 45 trailer parking stalls and multiple interior parking stalls.
    • Modern Office Space: Recently constructed Class A offices with glass partitions and WiFi.
    • Employee Amenities: Features employee lunch and locker rooms, and a convenience & fitness center.
    • Environmentally Conscious: MWRD approved rainwater permeable surface throughout the entire site and no soil contamination issues.

    Overview

    This 120,000 square foot industrial facility is located in Morton Grove, IL. The property features recently constructed Class A offices with glass partitions and WiFi. Employee amenities include lunch and locker rooms, as well as a convenience and fitness center on the mezzanine level. The building is equipped with LED lighting throughout and a wet system sprinkler. Security is enhanced by CCTV systems installed throughout the site. The property has MWRD approved rainwater permeable surface throughout the entire site and no soil contamination issues. It includes floor drains, six service bays with an industrial-sized vehicle lift, and a multi-level heavy-duty racking system. The facility contains over 20 boom cranes ranging from 1-ton to 2.5-ton, and 10 overhead cranes ranging from 3-ton to 15-ton. Electrical capacity is 2000 amps, with potential for expansion due to proximity to ComEd high tension lines. Exterior features include 45 trailer parking stalls, along with multiple interior parking stalls and automotive service lifts. 80% of the roof was repaired or replaced in 2020.
    Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Auto Repair Shop Big Box & Wholesale Store Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Morton Grove
    County
    Cook
    State
    Illinois
    Longitude
    -87.7806
    Latitude
    42.0238

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    FAQs

    What type of property is this?
    Manufacturing property - Recently constructed industrial facility with heavy duty features and parking.
    Where is this manufacturing property located?
    The property is located at 7840-7860 Lehigh Ave Morton Grove, IL.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: Extensive Crane System: Features 20+ boom cranes and 10 overhead cranes, ideal for heavy industrial operations.; High Power Capacity: Equipped with 2000 Amps and located next to ComEd high tension lines, allowing for power expansion.; Ample Parking: Includes 45 trailer parking stalls and multiple interior parking stalls.
    (847) 778-1254 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing John Joyce
    John Joyce
    Real Estate License ID: 475148534
    Learn More
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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.

    More about this property
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