Industrial Flex
New
For Sale
$1,499,000
3210 Wireton Rd, Blue Island, IL 60406
Brick-and-concrete construction includes office area, overhead doors, and three-phase electrical service.
Property Size21,355 SF
Lot Size1.07 Acres
Price / SF$70.19
Days on Market3
Property Features for 3210 Wireton Rd
General Information
Standard status
Active
Size
21,355 SF
Total Parking Spaces
40
Lot size
1.07 Acres
Property subtype
Industrial - Flex - Industrial
Warehouse & Industrial
Clear Height
10 ft
Office Build-Out
1,213 SF
Power
600 amps
Three-Phase Power
Yes
Additional Details
Utilities to Site
Yes
Building Details
Building Size
21,355 SF
Year Built
1984
Construction
brick, concrete, concrete block
Listing Agency:
Coldwell Banker Realty
(312) 981-5500
Listed By:
Charles Groebe · License #475091121
Source:
Commercialcafe
Added: Aug 17
Changed: Aug 18
Last Checked: Aug 18 at 6:31AM
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
Investment Insights
Based on property information with market context.
Located at 3210 Wireton Rd in Blue Island, this industrial property contains approximately 21,355 SF of flexible space, including approximately 1,213 SF of office area, on a 46,609 SF lot. The 1984 building features solid brick, concrete, and concrete block construction, a steel roof, central air conditioning, a 10' clear height, multiple overhead doors, and an accessible entrance. Three-phase power is available at up to 600 amps, with electric, gas, water, and sanitary utilities on site.
The property includes 40 parking spaces and is positioned in the Chicago South Suburbs near major roadways and businesses. The space is suited to warehouse and distribution, manufacturing, food and beverage, office and research, flex, and other commercial or industrial operations. Existing rental income is also associated with the asset.
The property includes 40 parking spaces and is positioned in the Chicago South Suburbs near major roadways and businesses. The space is suited to warehouse and distribution, manufacturing, food and beverage, office and research, flex, and other commercial or industrial operations. Existing rental income is also associated with the asset.
Key Highlights
- Approximately 21,355 SF of flexible industrial space, including approximately 1,213 SF of office area
- 46,609 SF lot with 40 parking spaces
- Three‑phase power up to 600 amps with electric, gas, water, and sanitary utilities on site
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
$111,625
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
7.45%
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%
$2,232,500
$2.2M
Cap Rate 7%
$1,594,643
$1.6M
Cap Rate 9%
$1,240,278
$1.2M
Market Conditions
NOI Build-Up for 21,355 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
$138.4K $6.48/SF
− Vacancy
−$7.1K −$0.33/SF
EGI
$131.3K $6.15/SF
− OpEx
−$19.7K −$0.92/SF
NOI
$111.6K $5.23/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /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%
$2,232,500
Cap Rate 7%
$1,594,643
Cap Rate 9%
$1,240,278
Alternative Uses
Best Use
Flex RnD
$3.21M
$2.81M – $3.75M
NOI $224,868 @ 7.0% cap · market cap 15.00%
Second Best
Warehouse
$1.59M
$1.40M – $1.86M
NOI $111,625 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$7.37M
$6.45M – $8.60M
NOI $516,104 @ 7.0% cap · market cap 34.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10 ft
Clear height
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60406, IL
24,011
Population
9,925
Households
2.4
Avg Household Size
36
Median Age
18%
College-Educated
82%
High-School Grad
5.4 sq mi
ZIP Area
4,446
Density / Sq Mi
$59,502
Median Household Income
$34,379
Median Earnings
$1,081
Median Rent
$166,000
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Cooks — 3221 Burr Oak Ave, Blue Island, IL 60406
Frequently Asked Questions
What type of property is this?
Flex space - Brick-and-concrete construction includes office area, overhead doors, and three-phase electrical service.
Where is this flex space located?
The property is located at 3210 Wireton Rd Blue Island, IL.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Approximately 21,355 SF of flexible industrial space, including approximately 1,213 SF of office area; 46,609 SF lot with 40 parking spaces; Three‑phase power up to 600 amps with electric, gas, water, and sanitary utilities on site
