Single-Tenant Industrial
For Sale
$4,735,000
3528 Martens St, Franklin Park, IL 60131
Industrial facility with outdoor storage, heavy power, and established occupancy under a renewed lease.
Property Size33,605 SF
Lot Size2.27 Acres
Price / SF$140.90
Days on Market16
Property Features for 3528 Martens St
General Information
Standard status
Active
Size
33,605 SF
Lot size
2.27 Acres
Property subtype
Warehouse
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
7
Power
3,000 amps
Three-Phase Power
Yes
Heavy Power
Yes
Amenities
33,605-Square-Foot Industrial Asset Situated on 2.27 Acres of Land
Features 14'-18' Clear Height, Seven Grade Doors, and Three-Phase Power with 3,000a | Special Use Zoning Permit for +/-1.5 Acres of Outdoor Storage Space
10+ Years of Historical Occupancy | Newly Executed 4-Year Early Renewal Option at $14.50/SF Effective 01/2027 with 3% Annual Escalations, Generating 7.75% Cap Rate
Occupied by INTREN | National Utility Service Provider with $550 Million in Revenue | Owned and Backed by MasTec Inc. (NYSE: MTZ)
Located in the Highly-Sought After O'Hare Submarket, Boasting 2.9% Vacancy Rate Among Comparables, Well-Below 7.8% National Average
Located 4.6 Miles from O'Hare International Airport, with Close Proximity to I-294 and I-90 | 3.7 Miles from CPKC Intermodal
Building Details
Building Size
33,605 SF
Year Built
1945
Tenancy
Single
Listing Agency:
Marcus & Millichap - Dallas
(312) 327-5459
Listed By:
Reese Isacson · License #License(s): IL: 475.21653
(312) 327-5459
Source:
Marcusmillichap
Added: Aug 1
Changed: Aug 11
Last Checked: Aug 16 at 3:00AM
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 Marcus & Millichap - Dallas
Investment Insights
Based on property information with market context.
This 33,605-square-foot industrial warehouse occupies 2.27 acres and includes 14- to 18-foot clear heights, seven grade-level doors, and three-phase service with 3,000 amps. A special-use zoning permit supports approximately 1.5 acres of outdoor storage. Built in 1945, the property is occupied by INTREN, which has maintained more than 10 years of occupancy and exercised a four-year early renewal option beginning in January 2027. The renewal includes 3 percent annual escalations and produces a pro forma 7.75 percent cap rate.
The property is located 4.6 miles from O'Hare International Airport and near Interstates 294 and 90. A Canadian Pacific Kansas City rail line runs along the property, while the Bensenville Intermodal Terminal is nearby to the west. These transportation connections support industrial operations requiring regional and broader logistics access.
The property is located 4.6 miles from O'Hare International Airport and near Interstates 294 and 90. A Canadian Pacific Kansas City rail line runs along the property, while the Bensenville Intermodal Terminal is nearby to the west. These transportation connections support industrial operations requiring regional and broader logistics access.
Key Highlights
- 33,605‑square‑foot industrial asset on 2.27 acres
- 14' to 18' clear heights with seven grade‑level doors
- Three‑phase heavy power with 3,000 amps
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
$175,656
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
3.71%
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%
$3,513,120
$3.5M
Cap Rate 7%
$2,509,371
$2.5M
Cap Rate 9%
$1,951,733
$2.0M
Market Conditions
NOI Build-Up for 33,605 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
$217.8K $6.48/SF
− Vacancy
−$11.1K −$0.33/SF
EGI
$206.7K $6.15/SF
− OpEx
−$31.0K −$0.92/SF
NOI
$175.7K $5.23/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /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%
$3,513,120
Cap Rate 7%
$2,509,371
Cap Rate 9%
$1,951,733
Alternative Uses
Best Use
Warehouse
$2.51M
$2.20M – $2.93M
NOI $175,656 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.60M
$10.15M – $13.54M
NOI $812,159 @ 7.0% cap · market cap 17.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
7
Drive-in doors
Single-tenant
Tenancy
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
845
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60131, IL
18,205
Population
6,120
Households
3
Avg Household Size
39
Median Age
19%
College-Educated
77%
High-School Grad
5.4 sq mi
ZIP Area
3,371
Density / Sq Mi
$76,404
Median Household Income
$39,117
Median Earnings
$1,092
Median Rent
$261,800
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.
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- BILLS MOVING SERVICES — 4039 Prairie Ave, Schiller Park, IL 60176
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial facility with outdoor storage, heavy power, and established occupancy under a renewed lease.
Where is this warehouse located?
The property is located at 3528 Martens St Franklin Park, IL.
What is the asking price?
The asking price for this property is $4,735,000.
What are key features of this property?
This property features: 33,605‑square‑foot industrial asset on 2.27 acres; 14' to 18' clear heights with seven grade‑level doors; Three‑phase heavy power with 3,000 amps
