Warehouse Units for
For Sale
$475,000
335 N Mason Avenue #1-8, Chicago, IL 60644
Multi-unit warehouse property offered for sale at 335 N Mason Avenue, with units numbered 1 through 8.
Property Size4,987 SF
Days on Market64
Property Features for 335 N Mason Avenue #1-8
General Information
Standard status
Active
Size
4,987 SF
Property subtype
Commercial
Zoning
COMMR
Lease Term
Lease Purchase
Taxes and HOA fees
Annual Taxes
$18,283
Building Details
Building Size
4,987 SF
Year Built
1921
Stories
1
Units
8
Listing Agency:
United Real Estate - Chicago
(630) 748-4660
Listed By:
Michelle Bolden
(630) 748-4660
Source:
Birdrealtysells
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 20 at 2:32PM
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 United Real Estate - Chicago
Investment Insights
Based on property information with market context.
This for-sale commercial property consists of warehouse units designated #1 through #8 at 335 N Mason Avenue. It is presented as a warehouse offering within the broader commercial real estate category.
The address is listed as 335 N Mason Avenue #1-8, Chicago, IL 60644. Specific building size, unit configurations, and current uses are not detailed in the provided information, so interested parties should confirm layout and condition during due diligence.
The address is listed as 335 N Mason Avenue #1-8, Chicago, IL 60644. Specific building size, unit configurations, and current uses are not detailed in the provided information, so interested parties should confirm layout and condition during due diligence.
Key Highlights
- Multi‑unit warehouse property for sale at 335 N Mason Avenue
- Year built: 1921
- Includes units numbered 1 through 8
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
$37,775
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
7.95%
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%
$755,500
$755.5K
Cap Rate 7%
$539,643
$539.6K
Cap Rate 9%
$419,722
$419.7K
Market Conditions
NOI Build-Up for 4,987 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
$47.0K $9.43/SF
− Vacancy
−$2.6K −$0.52/SF
EGI
$44.4K $8.91/SF
− OpEx
−$6.7K −$1.34/SF
NOI
$37.8K $7.57/SF
Area
Chicago, IL
Vacancy
5.50%
Lease Rate
$9.43 /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%
$755,500
Cap Rate 7%
$539,643
Cap Rate 9%
$419,722
Alternative Uses
Best Use
Warehouse
$539.6K
$472.2K – $629.6K
NOI $37,775 @ 7.0% cap · market cap 7.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.35M
$2.06M – $2.74M
NOI $164,595 @ 7.0% cap · market cap 34.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,762
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60644, IL
47,239
Population
20,619
Households
2.3
Avg Household Size
36
Median Age
11%
College-Educated
85%
High-School Grad
3.5 sq mi
ZIP Area
13,497
Density / Sq Mi
$37,952
Median Household Income
$31,304
Median Earnings
$1,096
Median Rent
$238,300
Median Home Value
Market
Vacancy Rate% for Industrial in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Multi-unit warehouse property offered for sale at 335 N Mason Avenue, with units numbered 1 through 8.
Where is this warehouse located?
The property is located at 335 N Mason Avenue #1-8 Chicago, IL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Multi‑unit warehouse property for sale at 335 N Mason Avenue; Year built: 1921; Includes units numbered 1 through 8
