22,500 SF Warehouse For
For Sale
Contact for pricing
4507-4529 N Kedzie Ave, Chicago, IL
22,500 SF building with over 11,000 SF parking.
Property Size22,500 SF
Lot Size0.65 Acres
Price / SF$133.29
Days on Market878
Property Features for 4507-4529 N Kedzie Ave
General Information
Standard status
Active
Size
22,500 SF
Lot size
0.65 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Strauss Realty, Ltd.
(847) 826-4467
Listed By:
Adam Schneiderman · License #475149601
(847) 826-4467
Source:
Moodyscre
Added: Mar 26, 2024
Changed: Aug 8
Last Checked: Aug 8 at 12:29PM
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 Strauss Realty, Ltd.
Investment Insights
Based on property information with market context.
This property features a 22,500 square foot building situated on a 28,125 square foot site. The site dimensions are 225 feet by 125 feet. The property includes over 11,000 square feet of parking space. Located in Chicago, IL, the property is suitable for warehouse or industrial use.
Key Highlights
- Substantial 22,500 SF building size.
- Large 28,125 SF land area.
- Ample parking with over 11,000 SF dedicated to parking space.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$170,430
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,408,600
$3.4M
Cap Rate 7%
$2,434,714
$2.4M
Cap Rate 9%
$1,893,667
$1.9M
Market Conditions
NOI Build-Up for 22,500 SF
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.
Gross rent
$212.2K $9.43/SF
− Vacancy
−$11.7K −$0.52/SF
EGI
$200.5K $8.91/SF
− OpEx
−$30.1K −$1.34/SF
NOI
$170.4K $7.57/SF
Area
Chicago, IL
Vacancy
5.50%
Lease Rate
$9.43 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,408,600
Cap Rate 7%
$2,434,714
Cap Rate 9%
$1,893,667
Alternative Uses
Best Use
Warehouse
$2.43M
$2.13M – $2.84M
NOI $170,430 @ 7.0% cap · market cap 5.68%
Second Best
Industrial
$2.02M
$1.76M – $2.35M
NOI $141,096 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$10.61M
$9.28M – $12.38M
NOI $742,608 @ 7.0% cap · market cap 24.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,087
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Public Storage — 3327 W 47th St, Chicago, IL 60632
- Self-Storage at U-Haul — 3401 W 47th St, Chicago, IL 60632
- Amigos Frozen Solutions — 3625 W 51st St, Chicago, IL 60632
- Talman Cold Storage — 4725 S Talman Ave, Chicago, IL 60632
Frequently Asked Questions
What type of property is this?
Warehouse - 22,500 SF building with over 11,000 SF parking.
Where is this warehouse located?
The property is located at 4507-4529 N Kedzie Ave Chicago, IL.
What is the asking price?
The asking price for this property is $2,999,000.
What are key features of this property?
This property features: Substantial 22,500 SF building size.; Large 28,125 SF land area.; Ample parking with over 11,000 SF dedicated to parking space.
