Two-Building Industrial
New
For Sale
$865,000
17550 Chicago Ave, Lansing, IL 60438
Masonry industrial improvements offer multiple grade-level access points and established occupancy near major transportation routes.
Property Size6,950 SF
Lot Size0.38 Acres
Price / SF$124.46
Days on Market2
Property Features for 17550 Chicago Ave
General Information
Standard status
Active
Size
6,950 SF
Lot size
0.38 Acres
Property subtype
Warehouse
Occupancy
100%
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
6
Additional Details
Cap Rate
10.32%
Highway Access
Yes
Amenities
six grade-level doors
clear heights 10-16 ft
Fully Occupied Two-Building 6,950-Square-Foot Industrial Asset Situated on 0.38 Acres
Featuring Masonry Construction, 10'-16' Clear Heights, and Six Grade-Level Doors
Partial Sale Leaseback Opportunity with Fine Tune Auto | Five-Year Triple-Net Lease Offer at $17.17 per Square Foot on 3,650 Square Feet with 3.0 Percent Escalations and Two Five-Year Renewal Options
Newly Signed Three-Year Triple-Net Lease with Five Star Collision at $7.27 per Square Foot on 3,300 Square Feet with 3.0 Percent Escalations
Pro-Forma 10.32 Percent Cap Rate | Landlord Responsibilities Limited to Roof and Structure
Located Along I-80/I-94 Near Border of Illinois & Indiana | Property Currently Benefits and is Eligible for Renewable Cook County Class 8 Property Tax Incentive
Building Details
Building Size
6,950 SF
Year Built
1985
Buildings
2
Construction
masonry
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Dallas
(312) 327-5446
Listed By:
Ty Sharp · License #License(s): IL: 475.177869
(312) 327-5446
Source:
Marcusmillichap
Added: Aug 2
Changed: Aug 3
Last Checked: Aug 3 at 6:13AM
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 Marcus & Millichap - Dallas
Investment Insights
Based on property information with market context.
This two-building warehouse property contains 6,950 square feet of industrial space on 0.38 acres. Built in 1985, the improvements feature masonry construction, clear heights from 10 to 16 feet, and six grade-level doors. The asset is fully occupied and includes a partial sale-leaseback structure involving FineTune Auto and an existing lease with Five Star Collision. FineTune Auto plans to execute a five-year triple-net lease covering 3,650 square feet, with 3.0 percent annual escalations and two five-year renewal options. Five Star Collision holds a three-year triple-net lease for 3,300 square feet with 3.0 percent annual escalations.
The property fronts the I-80/I-94 transportation corridor near the Illinois-Indiana border. It is also eligible for the renewable Cook County Class 8 property tax incentive. Landlord obligations are limited to the roof and structure under the stated lease arrangements.
The property fronts the I-80/I-94 transportation corridor near the Illinois-Indiana border. It is also eligible for the renewable Cook County Class 8 property tax incentive. Landlord obligations are limited to the roof and structure under the stated lease arrangements.
Key Highlights
- 6,950 SF industrial property on 0.38 acres
- Two masonry buildings constructed in 1985
- Clear heights ranging from 10 to 16 feet
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 | $45.0k | $6.48 |
| − Vacancy | −$2.3k | −$0.33 |
| EGI | $42.7k | $6.15 |
| − OpEx | −$6.4k | −$0.92 |
| NOI | $36.3k | $5.23 |
6,950 SF · lease $6.48/SF/yr · vacancy 5.10% · expense 15.00%
Alternative Uses
Best Use
Retail
$1.38M
$1.21M – $1.61M
NOI $96,467 @ 7.0% cap · market cap 11.15%
Second Best
Warehouse
$519.0K
$454.1K – $605.5K
NOI $36,328 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $167,966 @ 7.0% cap · market cap 19.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
6
Drive-in doors
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60438, IL
29,661
Population
12,230
Households
2.4
Avg Household Size
40
Median Age
28%
College-Educated
93%
High-School Grad
8.1 sq mi
ZIP Area
3,662
Density / Sq Mi
$72,043
Median Household Income
$44,632
Median Earnings
$1,271
Median Rent
$168,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Saphire Storage — 17560 Chicago Ave, Lansing, IL 60438
- Extra Space Storage — 2556 Bernice Rd, Lansing, IL 60438
- Lansing Self Storage — 17506 Chicago Ave, Lansing, IL 60438
Frequently Asked Questions
What type of property is this?
Warehouse - Masonry industrial improvements offer multiple grade-level access points and established occupancy near major transportation routes.
Where is this warehouse located?
The property is located at 17550 Chicago Ave Lansing, IL.
What is the asking price?
The asking price for this property is $865,000.
What are key features of this property?
This property features: 6,950 SF industrial property on 0.38 acres; Two masonry buildings constructed in 1985; Clear heights ranging from 10 to 16 feet
