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    Spacious Warehouse with Updated Office Title is generated by Realmo AI

    224 N Maplewood Ave, Chicago, IL

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    51,500 SF warehouse featuring updated office space.

    Type:INDUSTRIAL
    Property size:
    51,500 SF
    Lot size:
    1.12 Acres
    Price / SF:
    $96/SF
    Added:
    Oct 25, 2024
    Days on Market:
    617
    Last Refresh:
    May 20 at 9:04 pm

    Property Features for 224 N Maplewood Ave

    General Information

    Standard status
    Active
    Size
    51,500 SF
    Lot size
    1.12 Acres
    Property subtype
    INDUSTRIAL

    Properties For Sale

    at 224 N Maplewood Ave Contact us

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    Dominic “Nick” Saraceno

    Listing office CTK Chicago Partners | Chicago

    Listing date Oct 25, 2024

    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 CTK Chicago Partners | Chicago

    HighLights

    • 51,500 Square Feet Warehouse
    • Benefit from 4,800 AMP 3‑Phase Power
    • Features Four Internal Recessed Docks and Two External Truck‑Level Docks
    • Updated 4,000 Square Foot Office Area
    • Very Clean and Open Warehouse
    • Fully Sprinklered

    Overview

    This property features a 51,500-square-foot warehouse. The warehouse includes an updated 4,000-square-foot office area. The building is equipped with four internal recessed docks and two external truck-level docks. It has 4,800 AMP 3-Phase power and is fully sprinklered. There are 7 parking spots available. The warehouse is very clean and open.

    Local Financial Insights For Warehouse

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $485.6k $9.43
    − Vacancy −$26.7k −$0.52
    EGI $458.9k $8.91
    − OpEx −$68.8k −$1.34
    NOI $390.1k $7.57
    51,500 SF · lease $9.43/SF/yr · vacancy 5.50% · expense 15.00%

    Alternative Uses

    Best Use
    Warehouse
    $5.57M
    $4.88M – $6.50M (±1% cap)
    NOI $390,094 @ 7.0% cap · market cap 7.88%
    Second Best
    Industrial
    $4.61M
    $4.04M – $5.38M (±1% cap)
    NOI $322,954 @ 7.0% cap · market cap 6.52%
    Theoretical Best
    Office A
    $24.28M
    $21.25M – $28.33M (±1% cap)
    NOI $1,699,747 @ 7.0% cap · market cap 34.34%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Prevue Pet Products ... Industrial Manufacturer

    Suggested Use

    Dental Office Accounting Firm Auto Parts Store Real Estate Agency Storage Facility Shopping Center & Mall Garden Center (Bike/Boat/Book/etc) Store HVAC Service Arcade & Gaming Center

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

    Similar Places Nearby

    • Life Storage — 345 N Western Ave, Chicago, IL 60612
    • Daily Meat Supply, Inc. — 2323 W Fulton St, Chicago, IL 60612
    • Cadogan Tate | Fine Art & Interior Designer Services | Moving & Storage Services — 322 N Leavitt St, Chicago, IL 60612
    • ABW Self Storage Unit — 2651 w wilcox st, chicago, il 60612
    • Two Men and a Truck Moving and Storage — 2423 W Hubbard St, Chicago, IL 60612

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6906
    Latitude
    41.8863

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    FAQs

    What type of property is this?
    Warehouse - 51,500 SF warehouse featuring updated office space.
    Where is this warehouse located?
    The property is located at 224 N Maplewood Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $4,950,000.
    What are key features of this property?
    This property features: 51,500 Square Feet Warehouse; Benefit from **4,800 AMP 3‑Phase Power**; Features **Four Internal Recessed Docks and Two External Truck‑Level Docks**
    (847) 331-1339 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Dominic “Nick” Saraceno
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