Add Listing
    For Lease
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    11939 S Central Ave Alsip, IL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    106,933 SF warehouse with I-294 access and airport proximity.

    Type:INDUSTRIAL
    Property size:
    106,933 SF
    Lot size:
    13.10 Acres
    Added:
    Mar 20, 2025
    Days on Market:
    408
    Last Refresh:
    Apr 5 at 9:53 pm

    Property Features for 11939 S Central Ave

    General Information

    Standard status
    Active
    Size
    106,933 SF
    Lot size
    13.10 Acres
    Property subtype
    INDUSTRIAL

    Spaces For Lease

    at 11939 S Central Ave Contact us

    We can help!

    Listing Contact
    Adam Haefner
    Adam Haefner

    Listing agent Adam Haefner

    Listing office Avison Young | Suburban Chicago

    Listing date Mar 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 Avison Young | Suburban Chicago

    Overview

    Alsip Warehouse Near I-294

    This 106,933 square foot property is suitable for warehouse, industrial, and distribution purposes. It offers immediate access to I-294 via Cicero Avenue and is located in close proximity to Midway Airport. The location benefits from a skilled labor force.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    U.S. AutoForce (Bike/Boat/Book/etc) Store company bark Company Registry

    Suggested Use

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

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

    Similar Places Nearby

    • Public Storage — 5200 W 127th St, Alsip, IL 60803
    • Mini U Storage of Crestwood — 4747 w cal sag rd, crestwood, il 60445
    • Heniff — 11532-, 11592 Central Ave, Alsip, IL 60803, United States

    Location Insight

    • Map
    • Local Demand
    City
    Alsip
    County
    Cook
    State
    Illinois
    Longitude
    -87.7568
    Latitude
    41.6753

    Nearby Similar for Lease

    • Contact for pricing

      Updated Industrial Warehouse in Alsip

      Updated industrial warehouse with offices, workshops, and ample parking.
      4135 W 123rd Street, Alsip, IL 60803
      View Details
    • Contact for pricing

      Industrial Flex Space with Office

      2,550 SF flex space with second-floor office suite.
      12549 Holiday Drive Unit B, Alsip, IL 60803
      View Details
    • $60,000 SF/Yr

      High Velocity Warehouse with Parking

      New construction warehouse with heavy trailer parking available for lease.
      3600 W. 127th Street, Alsip, IL 60803
      View Details
    • $23,000 SF/Yr

      High Velocity Warehouse For Lease

      New construction warehouse with heavy trailer parking available for lease.
      3600 W. 127th Street, Alsip, IL 60803
      View Details
    • Contact for pricing

      Spacious Industrial Unit with Accessibility

      127,942 SF industrial unit with excellent transportation access.
      5625 W. 115th Street, Alsip, IL 60803
      View Details
    • Contact for pricing

      Alsip Specialty Property for Rent

      162,714 sqft specialty property available for rent in Alsip.
      11746-11756 S. Austin Ave., Alsip, IL 60803
      View Details
    • Contact for pricing

      Industrial Flex Space in Alsip

      Industrial flex space for lease in Alsip, Illinois.
      12549 S Holiday Dr, Alsip, IL 60803
      View Details
    • Contact for pricing

      Alsip Flex Space Available

      Flex space with office, dock, drive-in doors, and parking.
      12600 S Holiday Dr, Alsip, IL 60803
      View Details
    • Contact for pricing

      Industrial Facility Near Major Interstates

      Industrial facility with office space and convenient interstate access.
      5100 West 123rd Street, Alsip, IL, 60803
      View Details
    • $12 SF/Yr

      Versatile Industrial and Office Space

      Office, warehouse, truck spots, and repair facility available for lease.
      12161 S Central Ave, Alsip, IL
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 46,534 square feet.
      5009 W 122nd St, Alsip, IL 60803
      View Details
    • Contact for pricing

      Retail/Healthcare Space Near Pulaski Road

      3,174 SF retail/healthcare space with convenient access and parking.
      11500 S Pulaski Rd, Alsip, IL
      View Details

    FAQs

    What type of property is this?
    Warehouse - 106,933 SF warehouse with I-294 access and airport proximity.
    Where is this warehouse located?
    The property is located at 11939 S Central Ave Alsip, IL.
    What are key features of this property?
    This property features: Immediate access to I‑294 via Cicero Avenue; Close proximity to Midway Airport; Skilled labor force
    (773) 343-1441 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Adam Haefner
    Adam Haefner
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry

    11939 S Central Ave, Alsip, IL

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!