Oak Forest Industrial Building For
16420 KILBOURN Avenue Oak Forest, IL 60452
For Sale
Under Contract
$1,699,000
COMMERCIAL - Oak Forest, IL
Property Size20,025 SF
Lot Size1.31 Acres
Price / SF$84.84
Days on Market128
Property Features for 16420 KILBOURN Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
INDUS
Standard status
Active Under Contract
APN
28224240140000
Lot size
1.31 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
24859
Utilities
Utilities
Water Available
Cooling system
Central Air
Building Details
Year built
1977
Floors in Building
1
Number of units
1
Flooring type
Concrete, Carpet, Tile
Building materials
Brick, Concrete, Steel Siding
Listing Agency:
Village Realty, Inc.
(708) 478-1212
Listed By:
Ruben Vallejo · License #475130714
(708) 478-1212
Added: Mar 25
Changed: Jul 20
Last Checked: Jul 30 at 6:06AM
MLS# 12452259
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This stand-alone industrial building in Oak Forest features two interior docks and one drive-in door. The building encompasses 20,025 square feet, including approximately 4,500 square feet of office space, situated on a 1.3-acre lot. It is zoned I-1 Industrial. The office area includes a main office, conference room, space for cubicles, a vestibule, an IT room, a kitchen and lunchroom, a blueprint room, a shop manager's office, four bathrooms, and a storage loft area. The warehouse has a demising wall separating it from the manufacturing area. The ceiling height is 18 feet clear. The entire building is fire sprinklered and freshly painted. It benefits from a Cook County 6B property tax incentive, which has 7 years remaining and is renewable. New carpet and ceiling tiles have been installed, and the warehouse has been partially painted. Newer LED lights with motion sensors are in place. All racks and office furniture will remain. The property offers ample parking and provides easy and quick access to I-57, I-80, I-294, and I-94. The building is equipped with 800 amp and 3-phase service.
Key Highlights
- 20,025 SF stand‑alone industrial building on a 1.3‑acre lot with two interior docks and one drive‑in door
- 18 ft clear ceiling height and demising wall separating warehouse from manufacturing space
- Zoned I‑1 Industrial; 4,500 SF office space with main office, conference room, cubicle area, and IT room
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $129.8k | $6.48 |
| − Vacancy | −$6.6k | −$0.33 |
| EGI | $123.1k | $6.15 |
| − OpEx | −$18.5k | −$0.92 |
| NOI | $104.7k | $5.23 |
20,025 SF · lease $6.48/SF/yr · vacancy 5.10% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.50M
$1.31M – $1.74M
NOI $104,673 @ 7.0% cap · market cap 6.16%
Second Best
Industrial
$1.23M
$1.08M – $1.44M
NOI $86,201 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$6.91M
$6.05M – $8.07M
NOI $483,960 @ 7.0% cap · market cap 28.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Manufacturing property - 20,025 SF industrial building with office space on 1.3-acre lot.
Where is this manufacturing property located?
The property is located at 16420 KILBOURN Avenue Oak Forest, IL.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: 20,025 SF stand‑alone industrial building on a 1.3‑acre lot with two interior docks and one drive‑in door; 18 ft clear ceiling height and demising wall separating warehouse from manufacturing space; Zoned I‑1 Industrial; 4,500 SF office space with main office, conference room, cubicle area, and IT room
