Chicago Heights Commercial
For Sale
Contact for pricing
1313 Hilltop Avenue, Chicago Heights, IL 60411
6000 sq ft office/warehouse with on-site parking.
Property Size6,000 SF
Price / SF$72.50
Days on Market211
Property Features for 1313 Hilltop Avenue
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Office
Building Details
Year Built
1965
Listing Agency:
Berkshire Hathaway HomeServices Chicago
Listed By:
Ariel Marini · License #475151565
Source:
Crexi
Added: Jan 8
Changed: Jul 10
Last Checked: Aug 7 at 4:39AM
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 Berkshire Hathaway HomeServices Chicago
Investment Insights
Based on property information with market context.
This 6000 sq ft office/warehouse in Chicago Heights presents a commercial opportunity suitable for an owner-user or investor. The freestanding commercial building features on-site parking and accessibility to major routes, including Lincoln Highway (US-30) and nearby expressways. The property's flexible interior layout can accommodate a range of uses, such as retail, office, service, light industrial, or contractor-oriented operations, subject to zoning and municipal approval. Located within an established commercial corridor, the property offers high visibility and convenient access to regional transportation routes. The existing infrastructure and building footprint provide a foundation for renovation, repositioning, or customization.
Key Highlights
- 6000 sq ft office/warehouse suitable for owner‑user or investor.
- High visibility location in an established commercial corridor.
- Generous lot with on‑site parking.
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
$31,363
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
7.21%
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%
$627,260
$627.3K
Cap Rate 7%
$448,043
$448.0K
Cap Rate 9%
$348,478
$348.5K
Market Conditions
NOI Build-Up for 6,000 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
$38.9K $6.48/SF
− Vacancy
−$2.0K −$0.33/SF
EGI
$36.9K $6.15/SF
− OpEx
−$5.5K −$0.92/SF
NOI
$31.4K $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%
$627,260
Cap Rate 7%
$448,043
Cap Rate 9%
$348,478
Alternative Uses
Best Use
Flex RnD
$902.6K
$789.8K – $1.05M
NOI $63,180 @ 7.0% cap · market cap 14.52%
Second Best
Warehouse
$448.0K
$392.0K – $522.7K
NOI $31,363 @ 7.0% cap · market cap 7.21%
Theoretical Best
Office A
$2.07M
$1.81M – $2.42M
NOI $145,007 @ 7.0% cap · market cap 33.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
665
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60411, IL
53,515
Population
21,382
Households
2.5
Avg Household Size
36
Median Age
22%
College-Educated
87%
High-School Grad
30.7 sq mi
ZIP Area
1,743
Density / Sq Mi
$56,627
Median Household Income
$35,995
Median Earnings
$1,156
Median Rent
$148,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 6000 sq ft office/warehouse with on-site parking.
Where is this flex space located?
The property is located at 1313 Hilltop Avenue Chicago Heights, IL.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 6000 sq ft office/warehouse suitable for owner‑user or investor.; High visibility location in an established commercial corridor.; Generous lot with on‑site parking.
