Schiller Park Freestanding Industrial
For Sale
$3,068,356
9515 Winona Avenue, Schiller Park, IL 60176
Freestanding industrial facility with heavy power and central location.
Property Size54,511 SF
Price / SF$56.29
Days on Market149
Property Features for 9515 Winona Avenue
General Information
Standard status
Active
Size
54,511 SF
Property subtype
Industrial
Listing Agency:
CBRE | Corporate
(847) 706-4995
Listed By:
Cal Payne
(847) 706-4995
Source:
Cbre
Added: Mar 25
Changed: Aug 19
Last Checked: Aug 19 at 5:23AM
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 | Corporate
Investment Insights
Based on property information with market context.
This is a free-standing, single-tenant industrial facility. The property features heavy power that is well distributed throughout. Its central location provides quick access to I-90, I-294, I-190, and Mannheim Road. A dedicated car parking lot is available, with potential for outside storage. The property also presents the potential for a two-unit or owner-occupied layout. The property size is 54511 square feet.
Key Highlights
- Central location with quick access to I‑90, I‑294, I‑190, and Mannheim Road
- Heavy power well distributed throughout facility
- Free‑standing, single‑tenant facility
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
$234,652
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
7.65%
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%
$4,693,040
$4.7M
Cap Rate 7%
$3,352,171
$3.4M
Cap Rate 9%
$2,607,244
$2.6M
Market Conditions
NOI Build-Up for 54,511 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
$353.2K $6.48/SF
− Vacancy
−$18.0K −$0.33/SF
EGI
$335.2K $6.15/SF
− OpEx
−$100.6K −$1.84/SF
NOI
$234.7K $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%
$4,693,040
Cap Rate 7%
$3,352,171
Cap Rate 9%
$2,607,244
Alternative Uses
Best Use
Flex RnD
$8.20M
$7.18M – $9.57M
NOI $574,001 @ 7.0% cap · market cap 18.71%
Second Best
Industrial
$3.35M
$2.93M – $3.91M
NOI $234,652 @ 7.0% cap · market cap 7.65%
Theoretical Best
Office A
$18.82M
$16.47M – $21.96M
NOI $1,317,411 @ 7.0% cap · market cap 42.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
867
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60176, IL
11,714
Population
4,423
Households
2.6
Avg Household Size
39
Median Age
28%
College-Educated
87%
High-School Grad
2.5 sq mi
ZIP Area
4,686
Density / Sq Mi
$67,473
Median Household Income
$41,106
Median Earnings
$1,214
Median Rent
$276,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Freestanding industrial facility with heavy power and central location.
Where is this flex space located?
The property is located at 9515 Winona Avenue Schiller Park, IL.
What is the asking price?
The asking price for this property is $3,068,356.
What are key features of this property?
This property features: Central location with quick access to I‑90, I‑294, I‑190, and Mannheim Road; Heavy power well distributed throughout facility; Free‑standing, single‑tenant facility
