Chatham Industrial Site For
For Sale
$2,500,000
8452 South Lafayette Avenue, Chicago, IL 60620
18,200 SF industrial building on 2.50 AC land.
Property Size18,200 SF
Lot Size2.50 Acres
Price / SF$137.36
Days on Market195
Property Features for 8452 South Lafayette Avenue
General Information
Standard status
Active
Size
18,200 SF
Lot size
2.50 Acres
Property subtype
Industrial
Listing Agency:
CBRE | Indianapolis
Listed By:
Mike Nardini
(312) 935-1030
Source:
Cbre
Added: Mar 25
Changed: Sep 22
Last Checked: Oct 4 at 6:52AM
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 CBRE | Indianapolis
Investment Insights
Based on property information with market context.
This 18,200 square foot industrial property is situated on a 2.50-acre land site in the Chatham community, offering frontage on the Dan Ryan Expressway. Constructed in 1950, the building features 13-foot clear height and three drive-in doors. The zoning is M2-2, and surface parking is available. The property consists of PINS 20-33-409-019 through -022. 2023 taxes totaled $73,136.57. A 5-foot electric billboard on the property generates $12,500 annually. The Chatham community has a population of 31,710 and a median household income of $33,000. The site is located between the CTA Red Line station and the Gresham Metra Rock Island station, both at 87th Street. Industrial opportunities with expressway frontage are rare.
Key Highlights
- Rare industrial opportunity with expressway frontage on the Dan Ryan Expressway
- 2.50 AC Land Site
- Zoned M2‑2 industrial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$114,131
Cap Rate
4.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,282,620
$2.3M
Cap Rate 7%
$1,630,443
$1.6M
Cap Rate 9%
$1,268,122
$1.3M
Market Conditions
NOI Build-Up for 18,200 SF
Gross rent
$171.6K $9.43/SF
− Vacancy
−$8.6K −$0.47/SF
EGI
$163.0K $8.96/SF
− OpEx
−$48.9K −$2.69/SF
NOI
$114.1K $6.27/SF
Area
Chicago, IL
Vacancy
5.00%
Lease Rate
$9.43 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,282,620
Cap Rate 7%
$1,630,443
Cap Rate 9%
$1,268,122
Alternative Uses
Best Use
Industrial
$1.63M
$1.43M – $1.90M
NOI $114,131 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.58M
$7.51M – $10.01M
NOI $600,687 @ 7.0% cap · market cap 24.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
609
Businesses Nearby
Explore this area
Business Placement
Demographics for 60620, IL
66,514
Population
30,008
Households
2.2
Avg Household Size
41
Median Age
20%
College-Educated
88%
High-School Grad
7.0 sq mi
ZIP Area
9,502
Density / Sq Mi
$48,805
Median Household Income
$36,285
Median Earnings
$1,093
Median Rent
$187,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - 18,200 SF industrial building on 2.50 AC land.
Where is this industrial property located?
The property is located at 8452 South Lafayette Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Rare industrial opportunity with expressway frontage on the Dan Ryan Expressway; 2.50 AC Land Site; Zoned M2‑2 industrial zoning
