Schiller Park Manufacturing
For Sale
Contact for pricing
3800 Wesley Ter, Schiller Park, IL
Manufacturing building for sale with heavy power near I-294.
Property Size35,243 SF
Lot Size2.35 Acres
Price / SF$59.59
Days on Market1155
Property Features for 3800 Wesley Ter
General Information
Standard status
Active
Size
35,243 SF
Lot size
2.35 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Avison Young | Suburban Chicago
(312) 957-7600
Listed By:
Steven A. Kohn, SIOR
(847) 341-6048
Source:
Moodyscre
Added: Jul 17, 2023
Changed: Sep 7
Last Checked: Sep 13 at 8:34AM
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
Investment Insights
Based on property information with market context.
This 35,243-square-foot manufacturing building is available for sale, presenting an opportunity for investors. The property features heavy power and is located within a 1-mile drive to I-294, an 11-minute drive to O'Hare International Airport, and a 6-minute drive to commuter rail.
Key Highlights
- Heavy power, suitable for manufacturing
- Proximity to I‑294 (1‑mile drive)
- Convenient access to O'Hare International Airport (11‑minute drive)
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
$151,709
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
7.22%
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%
$3,034,180
$3.0M
Cap Rate 7%
$2,167,271
$2.2M
Cap Rate 9%
$1,685,656
$1.7M
Market Conditions
NOI Build-Up for 35,243 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
$228.4K $6.48/SF
− Vacancy
−$11.6K −$0.33/SF
EGI
$216.7K $6.15/SF
− OpEx
−$65.0K −$1.84/SF
NOI
$151.7K $4.30/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
30.00%
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%
$3,034,180
Cap Rate 7%
$2,167,271
Cap Rate 9%
$1,685,656
Alternative Uses
Best Use
Industrial
$2.17M
$1.90M – $2.53M
NOI $151,709 @ 7.0% cap · market cap 7.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.17M
$10.65M – $14.20M
NOI $851,746 @ 7.0% cap · market cap 40.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
749
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Manufacturing building for sale with heavy power near I-294.
Where is this manufacturing property located?
The property is located at 3800 Wesley Ter Schiller Park, IL.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Heavy power, suitable for manufacturing; Proximity to I‑294 (1‑mile drive); Convenient access to O'Hare International Airport (11‑minute drive)
