Versatile Freestanding Brick
17591 Paxton Ave, Lansing, IL 60438
For Sale
Contact for pricing
Adaptable commercial property with warehouse and office space for sale.
Property Size7,500 SF
Price / SF$100
Days on Market1331
Property Features for 17591 Paxton Ave
General Information
Standard status
Size
Class
Property subtype
Zoning
Lease Type
Building Details
Stories
Units
Tenancy
Listing Agency:
Coldwell banker realty
Listed By:
TANIA MIHAYLOVA · License IL 475.137036
(773) 837-5573
Source:
Crexi
Added: Mar 21, 2023
Changed: Nov 9
Last Checked: Nov 10 at 5:31AM
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 Coldwell banker realty
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Investment Insights
Based on property information with market context.
This 7,500-square-foot freestanding brick building is located in Lansing, IL. The property features two offices and a warehouse that can be transformed into three distinct areas, each with a private entrance, allowing for simultaneous use by multiple entities. The building includes two reception rooms, generously sized washrooms, a dedicated conference room, and a well-appointed kitchen area. It is equipped with two overhead doors with a dock, simplifying the movement of goods and equipment. Ample on-site parking is available. The property offers easy access to major expressways and county roads, streamlining logistics and enhancing connectivity. The building is suitable for diverse business operations and is meticulously maintained, showcasing impeccable condition both inside and out. This property is an investment opportunity with multiple avenues for revenue generation, ideal for investors or owners seeking a ready-to-use space.
Key Highlights
- 7,500 sq ft free‑standing brick building suitable for diverse business operations.
- Adaptable layout with a spacious warehouse divisible into three distinct areas, each with a private entrance.
- Strategic location with easy access to major expressways and county roads.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,285
Cap Rate
4.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$645,700
$645.7K
Cap Rate 7%
$461,214
$461.2K
Cap Rate 9%
$358,722
$358.7K
Market Conditions
NOI Build-Up for 7,500 SF
Gross rent
$48.6K $6.48/SF
− Vacancy
−$2.5K −$0.33/SF
EGI
$46.1K $6.15/SF
− OpEx
−$13.8K −$1.84/SF
NOI
$32.3K $4.30/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$645,700
Cap Rate 7%
$461,214
Cap Rate 9%
$358,722
Alternative Uses
Best Use
Flex RnD
$1.13M
$987.2K – $1.32M
NOI $78,975 @ 7.0% cap · market cap 10.53%
Second Best
Industrial
$461.2K
$403.6K – $538.1K
NOI $32,285 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$2.88M
$2.52M – $3.36M
NOI $201,600 @ 7.0% cap · market cap 26.88%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
445
Businesses Nearby
Under-served
Demand for This Use
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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
$168,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Flex space in Cook County, IL
Properties on Market for Flex space in Cook County
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial property with warehouse and office space for sale.
Where is this flex space located?
The property is located at 17591 Paxton Ave Lansing, IL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 7,500 sq ft free‑standing brick building suitable for diverse business operations.; Adaptable layout with a spacious warehouse divisible into three distinct areas, each with a private entrance.; Strategic location with easy access to major expressways and county roads.
