Rehabbed Industrial Warehouse
For Sale
$1,390,000
13747 Western Avenue, Blue Island, IL 60406
Recently rehabbed industrial property with main and storage buildings, new roof, sprinkler system, and fully fenced land.
Property Size15,825 SF
Price / SF$87.84
Days on Market425
Property Features for 13747 Western Avenue
General Information
Standard status
Active
Size
15,825 SF
Property subtype
Commercial
Zoning
INDUS
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$19,337
Building Details
Building Size
15,825 SF
Year Built
1992
Stories
1
Listing Agency:
SK Properties Group, LLC
(773) 493-7000
Listed By:
Suni Karim · License #471011379
(773) 493-7000
Source:
Allinonerealestateco
Added: Jun 25, 2025
Changed: Aug 23
Last Checked: Aug 22 at 11:16AM
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 SK Properties Group, LLC
Investment Insights
Based on property information with market context.
This industrial property totals 15,825 SF, including a main building of 11,400 SF and a separate storage building totaling 4,525 SF. The site has been recently rehabbed and updated, with a new roof and a sprinkler system. The land is fully fenced and secured, providing controlled access for industrial operations. The configuration includes multiple drive-in doors: three DIDs for the main building and five DIDs for the storage building.
The property is described as being in an excellent location close to I-294 and I-57, supporting convenient regional access.
With two structures and a fully fenced, secure yard, this facility is set up to accommodate a range of industrial uses, subject to applicable zoning and permitting.
The property is described as being in an excellent location close to I-294 and I-57, supporting convenient regional access.
With two structures and a fully fenced, secure yard, this facility is set up to accommodate a range of industrial uses, subject to applicable zoning and permitting.
Key Highlights
- Total 15,825 SF industrial property: 11,400 SF main building and 4,525 SF storage building
- Recently rehabbed with updates including new roof and sprinkler system
- Fully fenced and secured large land site
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
$82,719
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
5.95%
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%
$1,654,380
$1.7M
Cap Rate 7%
$1,181,700
$1.2M
Cap Rate 9%
$919,100
$919.1K
Market Conditions
NOI Build-Up for 15,825 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
$102.5K $6.48/SF
− Vacancy
−$5.2K −$0.33/SF
EGI
$97.3K $6.15/SF
− OpEx
−$14.6K −$0.92/SF
NOI
$82.7K $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%
$1,654,380
Cap Rate 7%
$1,181,700
Cap Rate 9%
$919,100
Alternative Uses
Best Use
Warehouse
$1.18M
$1.03M – $1.38M
NOI $82,719 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.46M
$4.78M – $6.37M
NOI $382,456 @ 7.0% cap · market cap 27.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
299
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60406, IL
24,011
Population
9,925
Households
2.4
Avg Household Size
36
Median Age
18%
College-Educated
82%
High-School Grad
5.4 sq mi
ZIP Area
4,446
Density / Sq Mi
$59,502
Median Household Income
$34,379
Median Earnings
$1,081
Median Rent
$166,000
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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Frequently Asked Questions
What type of property is this?
Warehouse - Recently rehabbed industrial property with main and storage buildings, new roof, sprinkler system, and fully fenced land.
Where is this warehouse located?
The property is located at 13747 Western Avenue Blue Island, IL.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: Total 15,825 SF industrial property: 11,400 SF main building and 4,525 SF storage building; Recently rehabbed with updates including new roof and sprinkler system; Fully fenced and secured large land site
