Flex Space with Paved
For Sale
$349,900
14427 S California Avenue, Posen, IL 60469
Connected work areas include a heated office, overhead doors, floor drains, and flexible separation potential.
Property Size3,418 SF
Price / SF$144.71
Days on Market16
Property Features for 14427 S California Avenue
General Information
Standard status
Active
Size
3,418 SF
Total Parking Spaces
7
Property subtype
Commercial
Zoning
INDUS
Additional Details
Asking Price
$349,900
Outdoor Storage
Yes
Office Build-Out
240 SF
Taxes and HOA fees
Annual Taxes
$9,048
Building Details
Building Size
3,418 SF
Buildings
1
Stories
1
Listing Agency:
@properties Christie's International Real Estate
(708) 971-0060
Listed By:
Kanton Harzich · License #475169564
(708) 971-0060
Source:
Birdrealtysells
Added: Jul 25
Changed: Aug 5
Last Checked: Aug 8 at 12:30PM
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 @properties Christie's International Real Estate
Investment Insights
Based on property information with market context.
This flex-space property combines 2,418 square feet in the primary building with a separately heated 240-square-foot office. Two 55-by-22-foot areas are currently joined as one open workspace but can be separated into individual units. Each area includes a 13-foot overhead door, floor drains for washing and cleaning, and a dedicated 130,000 BTU heating unit. The property also provides a 3,100-square-foot paved yard measuring approximately 60 by 60 feet, plus seven street-side parking spaces.
A separate 1,000-square-foot building is also available independently and includes a bathroom, its own furnace, and a 9-foot overhead door. The property is located at 14427 S California Avenue in Posen, within an industrial park near I-294 and I-57. Established businesses and residential neighborhoods surround the park.
A separate 1,000-square-foot building is also available independently and includes a bathroom, its own furnace, and a 9-foot overhead door. The property is located at 14427 S California Avenue in Posen, within an industrial park near I-294 and I-57. Established businesses and residential neighborhoods surround the park.
Key Highlights
- 2,418‑square‑foot primary building with separately heated 240‑square‑foot office
- Two 55x22 units currently connected, with potential to divide into separate spaces
- Each unit has a 13‑foot overhead door and individual 130,000 BTU heating 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
$25,462
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
7.28%
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%
$509,240
$509.2K
Cap Rate 7%
$363,743
$363.7K
Cap Rate 9%
$282,911
$282.9K
Market Conditions
NOI Build-Up for 2,418 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
$43.5K $18.00/SF
− Vacancy
−$4.4K −$1.80/SF
EGI
$39.2K $16.20/SF
− OpEx
−$13.7K −$5.67/SF
NOI
$25.5K $10.53/SF
Area
Cook County, IL
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$509,240
Cap Rate 7%
$363,743
Cap Rate 9%
$282,911
Alternative Uses
Best Use
Office B
$476.3K
$416.8K – $555.7K
NOI $33,340 @ 7.0% cap · market cap 9.53%
Second Best
Flex RnD
$363.7K
$318.3K – $424.4K
NOI $25,462 @ 7.0% cap · market cap 7.28%
Theoretical Best
Office A
$834.8K
$730.5K – $974.0K
NOI $58,438 @ 7.0% cap · market cap 16.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
393
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60469, IL
5,469
Population
1,704
Households
3.2
Avg Household Size
35
Median Age
13%
College-Educated
85%
High-School Grad
1.1 sq mi
ZIP Area
4,972
Density / Sq Mi
$72,041
Median Household Income
$32,763
Median Earnings
$1,478
Median Rent
$173,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Connected work areas include a heated office, overhead doors, floor drains, and flexible separation potential.
Where is this flex space located?
The property is located at 14427 S California Avenue Posen, IL.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 2,418‑square‑foot primary building with separately heated 240‑square‑foot office; Two 55x22 units currently connected, with potential to divide into separate spaces; Each unit has a 13‑foot overhead door and individual 130,000 BTU heating unit
