Industrial Facility Near
For Sale
Contact for pricing
17620 Chicago Avenue, Lansing, IL 60438
Well-maintained industrial building with high visibility and convenient transportation access.
Property Size5,575 SF
Lot Size0.70 Acres
Price / SF$322.87
Days on Market144
Property Features for 17620 Chicago Avenue
General Information
Standard status
Active
Size
5,575 SF
Lot size
0.70 Acres
Property subtype
Industrial
Zoning
M1
Building Details
Year Built
1956
Listing Agency:
Access Real Estate
Listed By:
zahara bazigos · License #IL
Source:
Crexi
Added: Mar 19
Changed: Aug 8
Last Checked: Jul 19 at 4:30AM
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 Access Real Estate
Investment Insights
Based on property information with market context.
This well-maintained 5,575 square foot metal industrial building is situated on a 30,400 square foot fully fenced lot with two gated access points. The property benefits from an excellent location with high visibility near the I-80/94 corridor, offering convenient access to regional intermodal transportation hubs. It features a service bay suitable for semi-truck and bus repair, complete with compressed air in the bay and a triple-basin drain system. The paved yard and parking area can accommodate up to 20 trucks. An efficient recycled oil heating system is in place, and a natural gas option is available.
Key Highlights
- Excellent location near I‑80/94 corridor with convenient access to regional intermodal transportation hubs.
- 5,575 SF metal industrial building on a 30,400 SF fully fenced lot with two gated access points.
- Service bay suitable for semi‑truck and bus repair, with compressed air and triple‑basin drain system.
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
$77,382
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
4.30%
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%
$1,547,640
$1.5M
Cap Rate 7%
$1,105,457
$1.1M
Cap Rate 9%
$859,800
$859.8K
Market Conditions
NOI Build-Up for 5,575 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
$120.4K $21.60/SF
− Vacancy
−$9.9K −$1.77/SF
EGI
$110.5K $19.83/SF
− OpEx
−$33.2K −$5.95/SF
NOI
$77.4K $13.88/SF
Area
Cook County, IL
Vacancy
8.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,547,640
Cap Rate 7%
$1,105,457
Cap Rate 9%
$859,800
Alternative Uses
Best Use
Retail
$1.11M
$967.3K – $1.29M
NOI $77,382 @ 7.0% cap · market cap 4.30%
Second Best
Industrial
$342.8K
$300.0K – $400.0K
NOI $23,999 @ 7.0% cap · market cap 1.33%
Theoretical Best
Office A
$1.92M
$1.68M – $2.25M
NOI $134,736 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
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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Frequently Asked Questions
What type of property is this?
Industrial property - Well-maintained industrial building with high visibility and convenient transportation access.
Where is this industrial property located?
The property is located at 17620 Chicago Avenue Lansing, IL.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Excellent location near I‑80/94 corridor with convenient access to regional intermodal transportation hubs.; 5,575 SF metal industrial building on a 30,400 SF fully fenced lot with two gated access points.; Service bay suitable for semi‑truck and bus repair, with compressed air and triple‑basin drain system.
