Renovated Commercial Building on
For Sale
$175,000
837 Mannheim Road, Bellwood, IL 60104
Turn-key industrial/commercial property with showroom, workshop, and drive-in access.
Property Size1,730 SF
Price / SF$101.16
Days on Market138
Property Features for 837 Mannheim Road
General Information
Standard status
Active
Size
1,730 SF
Property subtype
Industrial
Zoning
COMMR
Building Details
Building Size
1,730 SF
Year Built
1955
Stories
1
Listing Agency:
Coldwell Banker Real Estate Group
(708) 217-5004
Listed By:
Frank Paganis · License #475161105
(708) 217-5004
Source:
Cbcworldwide
Added: Apr 2
Changed: Aug 14
Last Checked: Jul 16 at 8:39AM
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 Coldwell Banker Real Estate Group
Investment Insights
Based on property information with market context.
Located on Mannheim Road in Bellwood, this 1,730 SF industrial/commercial property is suitable for contractors, trades, or service-based businesses. The building features a potential showroom or office space in the front and a functional workshop/storage area in the rear with drive-in door access. The property has been renovated, including full tuckpointing and reconstruction of the front parapet wall. The roof has new plywood along the front parapet, secured flashing, sealed joints, and a fresh silver coating. Interior improvements include new flooring in the front area, a professionally finished shop floor, full interior repaint, and updated plumbing fixtures, including new sinks, toilets, and hot water heaters. The rear overhead door has also been replaced. All required repairs outlined in the village pre-inspection report, including electrical, plumbing, masonry, signage, and fire safety systems, have been completed with proper permits and licenses, and the property has received full municipal sign-off for occupancy. Additional features include central air, existing heating units in good condition, and a multi-camera security system. The property has immediate access to I-290 and I-294, providing connectivity throughout the western suburbs and greater Chicagoland area.
Key Highlights
- Fully renovated and code‑compliant, turn‑key condition, ready for immediate occupancy.
- High‑visibility location on Mannheim Road with immediate access to I‑290 and I‑294.
- Versatile 1,730 SF building suitable for various industrial/commercial uses (contractors, trades, service‑based businesses).
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
$7,447
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
4.26%
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%
$148,940
$148.9K
Cap Rate 7%
$106,386
$106.4K
Cap Rate 9%
$82,744
$82.7K
Market Conditions
NOI Build-Up for 1,730 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
$11.2K $6.48/SF
− Vacancy
−$572 −$0.33/SF
EGI
$10.6K $6.15/SF
− OpEx
−$3.2K −$1.84/SF
NOI
$7.4K $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%
$148,940
Cap Rate 7%
$106,386
Cap Rate 9%
$82,744
Alternative Uses
Best Use
Flex RnD
$260.2K
$227.7K – $303.6K
NOI $18,217 @ 7.0% cap · market cap 10.41%
Second Best
Industrial
$106.4K
$93.1K – $124.1K
NOI $7,447 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$597.3K
$522.6K – $696.8K
NOI $41,810 @ 7.0% cap · market cap 23.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
873
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60104, IL
18,829
Population
6,492
Households
2.9
Avg Household Size
40
Median Age
16%
College-Educated
86%
High-School Grad
2.3 sq mi
ZIP Area
8,187
Density / Sq Mi
$77,270
Median Household Income
$39,346
Median Earnings
$1,221
Median Rent
$219,300
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.
Similar Off Market Nearby
- DISCO KITCHEN INC. — 448 Rice Ave, Bellwood, IL 60104
Frequently Asked Questions
What type of property is this?
Flex space - Turn-key industrial/commercial property with showroom, workshop, and drive-in access.
Where is this flex space located?
The property is located at 837 Mannheim Road Bellwood, IL.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Fully renovated and code‑compliant, turn‑key condition, ready for immediate occupancy.; High‑visibility location on Mannheim Road with immediate access to I‑290 and I‑294.; Versatile 1,730 SF building suitable for various industrial/commercial uses (contractors, trades, service‑based businesses).
