Shallow-Bay Industrial
For Sale
Contact for pricing
17730-17740 Hoffman Way, Homewood, IL 60430
Two tenants occupy the building under NNN leases that were recently extended.
Property Size36,463 SF
Lot Size2.70 Acres
Price / SF$106.08
Days on Market10
Property Features for 17730-17740 Hoffman Way
General Information
Standard status
Active
Size
36,463 SF
Lot size
2.70 Acres
Property subtype
Industrial
Occupancy
100%
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Building Size
36,463 SF
Tenancy
Multi
Listing Agency:
Bang Realty
Listed By:
Brian Brockman · License #177814
(888) 737-2264
Source:
Crexi
Added: Sep 16
Changed: Sep 24
Last Checked: Sep 24 at 2:35PM
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 Bang Realty
Investment Insights
Based on property information with market context.
This 36,463-square-foot industrial property occupies 2.70 acres in Homewood, Illinois. Its shallow-bay layout is fully occupied by ANDRITZ Dedert Corporation and Feldco, with both tenants having recently extended their NNN leases. The facility is described as well maintained.
The site connects to I-80, I-57 and I-294. Rail service, three major airports and two major ports are also cited as part of its regional transportation access.
The site connects to I-80, I-57 and I-294. Rail service, three major airports and two major ports are also cited as part of its regional transportation access.
Key Highlights
- 36,463‑square‑foot industrial facility on 2.70 acres
- Shallow‑bay configuration
- 100% occupied by ANDRITZ Dedert Corporation and Feldco
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
$156,961
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
4.06%
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%
$3,139,220
$3.1M
Cap Rate 7%
$2,242,300
$2.2M
Cap Rate 9%
$1,744,011
$1.7M
Market Conditions
NOI Build-Up for 36,463 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
$236.3K $6.48/SF
− Vacancy
−$12.1K −$0.33/SF
EGI
$224.2K $6.15/SF
− OpEx
−$67.3K −$1.84/SF
NOI
$157.0K $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 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%
$3,139,220
Cap Rate 7%
$2,242,300
Cap Rate 9%
$1,744,011
Alternative Uses
Best Use
Industrial
$2.24M
$1.96M – $2.62M
NOI $156,961 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.59M
$11.02M – $14.69M
NOI $881,231 @ 7.0% cap · market cap 22.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
679
Businesses Nearby
Explore this area
Business Placement
Demographics for 60430, IL
20,146
Population
7,662
Households
2.6
Avg Household Size
42
Median Age
46%
College-Educated
96%
High-School Grad
6.9 sq mi
ZIP Area
2,920
Density / Sq Mi
$91,402
Median Household Income
$48,509
Median Earnings
$1,419
Median Rent
$209,100
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 - Two tenants occupy the building under NNN leases that were recently extended.
Where is this industrial property located?
The property is located at 17730-17740 Hoffman Way Homewood, IL.
What is the asking price?
The asking price for this property is $3,868,000.
What are key features of this property?
This property features: 36,463‑square‑foot industrial facility on 2.70 acres; Shallow‑bay configuration; 100% occupied by ANDRITZ Dedert Corporation and Feldco
