Orland Park Warehouse Space
For Sale
Contact for pricing
15428 South 70th Court, Orland Park, IL 60462
4000 sq ft warehouse near Harlem Ave. for sale.
Property Size4,000 SF
Price / SF$99.98
Days on Market196
Property Features for 15428 South 70th Court
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Industrial
Listing Agency:
Better Homes and Gardens Real Estate Connections
(708) 702-7711
Listed By:
Dick Post · License #IL 471.006338
Source:
Crexi
Added: Feb 5
Changed: Aug 8
Last Checked: Aug 8 at 2:49PM
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 Better Homes and Gardens Real Estate Connections
Investment Insights
Based on property information with market context.
This industrial/warehouse space is located in Orland Park, near the high-traffic Harlem Avenue. The property offers approximately 4000 square feet of wide-open space. It features a large, 14-foot overhead door suitable for deliveries. The ceiling height reaches 18 feet. The property's location provides convenient access to I-80. Seller-assisted financing may be possible. The space can be used for many purposes.
Key Highlights
- 4000+- sq ft of wide open industrial/warehouse space.
- Located in Orland Park near high‑traffic Harlem Ave.
- 14‑foot overhead door for deliveries.
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
$20,908
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
5.23%
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%
$418,160
$418.2K
Cap Rate 7%
$298,686
$298.7K
Cap Rate 9%
$232,311
$232.3K
Market Conditions
NOI Build-Up for 4,000 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
$25.9K $6.48/SF
− Vacancy
−$1.3K −$0.33/SF
EGI
$24.6K $6.15/SF
− OpEx
−$3.7K −$0.92/SF
NOI
$20.9K $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%
$418,160
Cap Rate 7%
$298,686
Cap Rate 9%
$232,311
Alternative Uses
Best Use
Warehouse
$298.7K
$261.4K – $348.5K
NOI $20,908 @ 7.0% cap · market cap 5.23%
Second Best
Industrial
$246.0K
$215.2K – $287.0K
NOI $17,219 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,671 @ 7.0% cap · market cap 24.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
714
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60462, IL
40,539
Population
17,335
Households
2.3
Avg Household Size
45
Median Age
45%
College-Educated
94%
High-School Grad
16.0 sq mi
ZIP Area
2,534
Density / Sq Mi
$96,747
Median Household Income
$52,902
Median Earnings
$1,393
Median Rent
$330,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Public Storage — 15359 S Harlem Ave, Orland Park, IL 60462
- Thompson Moving & Storage, Inc. ILCC7337MC — 15331 S 70th Ct, Orland Park, IL 60462
Frequently Asked Questions
What type of property is this?
Warehouse - 4000 sq ft warehouse near Harlem Ave. for sale.
Where is this warehouse located?
The property is located at 15428 South 70th Court Orland Park, IL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 4000+- sq ft of wide open industrial/warehouse space.; Located in Orland Park near high‑traffic Harlem Ave.; 14‑foot overhead door for deliveries.
