Fenced & Gated Warehouse with
For Sale
Contact for pricing
1722 W Carroll Ave, Chicago, IL 60612
Warehouse on a fenced and gated lot with drive-in and dock loading and skylights for natural light.
Property Size9,000 SF
Lot Size0.18 Acres
Price / SF$250
Days on Market64
Property Features for 1722 W Carroll Ave
General Information
Standard status
Active
Size
9,000 SF
Lot size
0.18 Acres
Property subtype
INDUSTRIAL
Site & Location
Road Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
15 ft
Drive-In Doors
2
Listing Agency:
Baum Realty
(312) 666-3000
Listed By:
Zach Pruitt · License #471013723
(312) 766-4291
Source:
Moodyscre
Added: Jul 14
Changed: Sep 2
Last Checked: Sep 15 at 10:36AM
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 Baum Realty
Investment Insights
Based on property information with market context.
This warehouse property includes a fenced and gated lot and flexible tenant setup, with a single-tenant and/or multi-tenant building configuration. Loading is supported by two (2) drive-in doors at grade measuring 8' W x 9' H, along with one (1) internal loading dock and an open exterior loading dock. Interior clear height reaches up to 15’, providing headroom for a range of warehouse and distribution needs. Ample skylights add natural light to the space.
Curb cuts on W. Carroll Avenue are in place, supporting practical access for deliveries and maneuvering.
The property is listed with a 9,000 SF building size, and the fenced and gated lot totals 7,897 SF.
Curb cuts on W. Carroll Avenue are in place, supporting practical access for deliveries and maneuvering.
The property is listed with a 9,000 SF building size, and the fenced and gated lot totals 7,897 SF.
Key Highlights
- 7,897 SF fenced and gated lot
- Two (2) drive‑in doors at grade, 8' W x 9' H
- One (1) internal loading dock plus open exterior loading dock
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
$68,172
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
3.03%
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%
$1,363,440
$1.4M
Cap Rate 7%
$973,886
$973.9K
Cap Rate 9%
$757,467
$757.5K
Market Conditions
NOI Build-Up for 9,000 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
$84.9K $9.43/SF
− Vacancy
−$4.7K −$0.52/SF
EGI
$80.2K $8.91/SF
− OpEx
−$12.0K −$1.34/SF
NOI
$68.2K $7.57/SF
Area
Chicago, IL
Vacancy
5.50%
Lease Rate
$9.43 /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%
$1,363,440
Cap Rate 7%
$973,886
Cap Rate 9%
$757,467
Alternative Uses
Best Use
Warehouse
$973.9K
$852.2K – $1.14M
NOI $68,172 @ 7.0% cap · market cap 3.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.24M
$3.71M – $4.95M
NOI $297,043 @ 7.0% cap · market cap 13.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
15 ft
Clear height
2
Drive-in doors
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,903
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60612, IL
34,402
Population
16,763
Households
2.1
Avg Household Size
34
Median Age
41%
College-Educated
89%
High-School Grad
3.7 sq mi
ZIP Area
9,298
Density / Sq Mi
$60,457
Median Household Income
$46,582
Median Earnings
$1,330
Median Rent
$331,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Chicago, IL
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse on a fenced and gated lot with drive-in and dock loading and skylights for natural light.
Where is this warehouse located?
The property is located at 1722 W Carroll Ave Chicago, IL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 7,897 SF fenced and gated lot; Two (2) drive‑in doors at grade, 8' W x 9' H; One (1) internal loading dock plus open exterior loading dock
