Multi-Tenant Warehouse with Drive-In
For Sale
Contact for pricing
1300 W Washington St W, Chicago, IL 60185
Five-unit warehouse with docks, drive-in doors, and new LED lighting in each unit.
Property Size66,029 SF
Price / SF$113.59
Days on Market497
Property Features for 1300 W Washington St W
General Information
Standard status
Active
Size
66,029 SF
Property subtype
INDUSTRIAL
Additional Details
Voltage
480 V
Building Details
Tenancy
Multi
Listing Agency:
Morken & Associates
(630) 567-7804
Listed By:
Steve Morken
(630) 567-7800
Source:
Moodyscre
Added: May 6, 2025
Changed: Sep 8
Last Checked: Sep 14 at 11:37AM
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 Morken & Associates
Investment Insights
Based on property information with market context.
This five-unit multi-tenant warehouse property is set up for practical loading and storage. Each unit features exterior docks and 12' x 14' drive-in doors, along with floor drains and triple catch basins. Power service is listed as 400 to 1600 amps at 480 volt. Offices include a fully decked concrete mezzanine for added storage, and each unit has new LED lighting.
The property has frontage on Washington Street. A rent roll is available upon request.
With multiple loading features and on-site office mezzanine storage, the layout is designed to support tenants that need both efficient receiving and usable interior staging or storage space within the warehouse units.
The property has frontage on Washington Street. A rent roll is available upon request.
With multiple loading features and on-site office mezzanine storage, the layout is designed to support tenants that need both efficient receiving and usable interior staging or storage space within the warehouse units.
Key Highlights
- Five‑unit multi‑tenant warehouse with frontage on Washington Street
- Exterior docks in each unit plus 12' x 14' drive‑in doors
- Floor drains with triple catch basins in each unit
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
$500,146
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
6.67%
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%
$10,002,920
$10.0M
Cap Rate 7%
$7,144,943
$7.1M
Cap Rate 9%
$5,557,178
$5.6M
Market Conditions
NOI Build-Up for 66,029 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
$622.7K $9.43/SF
− Vacancy
−$34.2K −$0.52/SF
EGI
$588.4K $8.91/SF
− OpEx
−$88.3K −$1.34/SF
NOI
$500.1K $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%
$10,002,920
Cap Rate 7%
$7,144,943
Cap Rate 9%
$5,557,178
Alternative Uses
Best Use
Flex RnD
$10.89M
$9.53M – $12.70M
NOI $762,239 @ 7.0% cap · market cap 10.16%
Second Best
Warehouse
$7.14M
$6.25M – $8.34M
NOI $500,146 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$31.13M
$27.24M – $36.32M
NOI $2,179,274 @ 7.0% cap · market cap 29.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
8,781
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60185, IL
34,775
Population
11,030
Households
3.2
Avg Household Size
37
Median Age
33%
College-Educated
84%
High-School Grad
30.9 sq mi
ZIP Area
1,125
Density / Sq Mi
$105,063
Median Household Income
$41,439
Median Earnings
$1,400
Median Rent
$313,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Chicago, IL
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Frequently Asked Questions
What type of property is this?
Warehouse - Five-unit warehouse with docks, drive-in doors, and new LED lighting in each unit.
Where is this warehouse located?
The property is located at 1300 W Washington St W Chicago, IL.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: Five‑unit multi‑tenant warehouse with frontage on Washington Street; Exterior docks in each unit plus 12' x 14' drive‑in doors; Floor drains with triple catch basins in each unit
