Warehouse with Attached Residential
For Sale
Contact for pricing
Pending
17005 Lathrop Avenue, Harvey, IL 60426
Industrial warehouse with offices, bathroom, and loft storage plus a long-term tenant residence at the front of the lot.
Property Size2,475 SF
Days on Market56
Property Features for 17005 Lathrop Avenue
General Information
Standard status
Pending
Size
2,475 SF
Property subtype
Industrial
Zoning
OTHER
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Drive-In Doors
1
Building Details
Year Built
1937
Stories
2
Listing Agency:
Keller Williams Preferred Realty
(708) 932-9522
Listed By:
Anthony Meier · License #IL 471018883
Source:
Crexi
Added: Jun 15
Changed: Aug 8
Last Checked: Jul 24 at 12:48PM
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 Keller Williams Preferred Realty
Investment Insights
Based on property information with market context.
This property includes a warehouse building constructed in 1992, offering practical space for light industrial or storage use. The warehouse features a 16-foot overhead door, two private offices, a full bathroom with a shower, loft storage, and an overhead forced-air heater, along with a tankless water heater. Additional outdoor usability is provided by a fenced backyard area. The residential portion is a two- to three-bedroom, one-bath home with a full basement located at the front of the lot.
The warehouse is situated in an industrial district with convenient access to major highways. Public remarks note an established business directly across the street, supporting day-to-day accessibility for tenants, vendors, or customers who need straightforward ingress and egress.
For buyers seeking a combined commercial and residential holding, the layout supports both operating and living arrangements on the same site, while the home is currently occupied by long-term tenants who have been in place for over 20 years. The residential unit’s location at the front of the lot and the warehouse’s dedicated overhead door and office space create a functional separation between work areas and living space. All dimensions are approximate and should be verified prior to purchase.
The warehouse is situated in an industrial district with convenient access to major highways. Public remarks note an established business directly across the street, supporting day-to-day accessibility for tenants, vendors, or customers who need straightforward ingress and egress.
For buyers seeking a combined commercial and residential holding, the layout supports both operating and living arrangements on the same site, while the home is currently occupied by long-term tenants who have been in place for over 20 years. The residential unit’s location at the front of the lot and the warehouse’s dedicated overhead door and office space create a functional separation between work areas and living space. All dimensions are approximate and should be verified prior to purchase.
Key Highlights
- 2,475 SF warehouse with a 16‑foot overhead door, loft storage, and overhead forced‑air heater
- Includes two private offices and a full bathroom with shower
- Tankless water heater and overhead forced‑air heating in the warehouse
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
$12,937
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
7.00%
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%
$258,740
$258.7K
Cap Rate 7%
$184,814
$184.8K
Cap Rate 9%
$143,744
$143.7K
Market Conditions
NOI Build-Up for 2,475 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
$16.0K $6.48/SF
− Vacancy
−$818 −$0.33/SF
EGI
$15.2K $6.15/SF
− OpEx
−$2.3K −$0.92/SF
NOI
$12.9K $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%
$258,740
Cap Rate 7%
$184,814
Cap Rate 9%
$143,744
Alternative Uses
Best Use
Apartment 5plus
$410.2K
$358.9K – $478.5K
NOI $28,712 @ 7.0% cap · market cap 15.53%
Second Best
Warehouse
$184.8K
$161.7K – $215.6K
NOI $12,937 @ 7.0% cap · market cap 7.00%
Theoretical Best
Office A
$854.5K
$747.7K – $996.9K
NOI $59,815 @ 7.0% cap · market cap 32.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
344
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60426, IL
24,114
Population
10,870
Households
2.2
Avg Household Size
37
Median Age
10%
College-Educated
77%
High-School Grad
7.7 sq mi
ZIP Area
3,132
Density / Sq Mi
$40,995
Median Household Income
$29,712
Median Earnings
$987
Median Rent
$88,500
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.
Similar Off Market Nearby
- Public Storage — 17208 Halsted St, East Hazel Crest, IL 60429
- CubeSmart Self Storage — 16731 Halsted St, Harvey, IL 60426
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse with offices, bathroom, and loft storage plus a long-term tenant residence at the front of the lot.
Where is this warehouse located?
The property is located at 17005 Lathrop Avenue Harvey, IL.
What is the asking price?
The asking price for this property is $184,900.
What are key features of this property?
This property features: 2,475 SF warehouse with a 16‑foot overhead door, loft storage, and overhead forced‑air heater; Includes two private offices and a full bathroom with shower; Tankless water heater and overhead forced‑air heating in the warehouse
