Industrial Condo with Dock
For Sale
Contact for pricing
Pending
3400-3450 Oakton St, Skokie, IL 60076
Industrial condo includes four dock doors, two drive-in doors, and 17’ clear ceiling height.
Property Size67,700 SF
Lot Size9.55 Acres
Days on Market214
Property Features for 3400-3450 Oakton St
General Information
Standard status
Pending
Size
67,700 SF
Total Parking Spaces
100
Lot size
9.55 Acres
Property subtype
Industrial
Zoning
M-3
Warehouse & Industrial
Clear Height
17 ft
Dock-High Doors
4
Drive-In Doors
2
Additional Details
Highway Access
Yes
Listing Agency:
Strauss Realty
Listed By:
MJ Weinberger · License #IL 475183341
(847) 334-2587
Source:
Crexi
Added: Feb 3
Changed: Aug 26
Last Checked: Sep 1 at 6:59PM
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 Strauss Realty
Investment Insights
Based on property information with market context.
This industrial condo totals 67,700 SF and is divisible from 25,000 SF within a 198,200 SF complex. The space offers 17’ clear ceiling height with four dock doors and two drive-in doors. Ample parking is available, including truck parking.
Located at 3400-3450 Oakton St in Skokie, IL 60076, the property provides convenient regional access to I-94.
The configuration supports a range of industrial uses, including warehousing, distribution, or light manufacturing, with the site set on 9.55 acres and designed to accommodate vehicle parking needs.
Located at 3400-3450 Oakton St in Skokie, IL 60076, the property provides convenient regional access to I-94.
The configuration supports a range of industrial uses, including warehousing, distribution, or light manufacturing, with the site set on 9.55 acres and designed to accommodate vehicle parking needs.
Key Highlights
- 67,700 SF industrial condo in a 198,200 SF complex, divisible from 25,000 SF
- Zoned M3 with 17’ clear ceiling height and flexible layout for warehousing, distribution, or light manufacturing
- 4 dock doors plus 2 drive‑in doors for loading and access
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
$353,874
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
4.45%
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%
$7,077,480
$7.1M
Cap Rate 7%
$5,055,343
$5.1M
Cap Rate 9%
$3,931,933
$3.9M
Market Conditions
NOI Build-Up for 67,700 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
$438.7K $6.48/SF
− Vacancy
−$22.4K −$0.33/SF
EGI
$416.3K $6.15/SF
− OpEx
−$62.4K −$0.92/SF
NOI
$353.9K $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%
$7,077,480
Cap Rate 7%
$5,055,343
Cap Rate 9%
$3,931,933
Alternative Uses
Best Use
Warehouse
$5.06M
$4.42M – $5.90M
NOI $353,874 @ 7.0% cap · market cap 4.45%
Second Best
Industrial
$4.16M
$3.64M – $4.86M
NOI $291,426 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$23.37M
$20.45M – $27.27M
NOI $1,636,161 @ 7.0% cap · market cap 20.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
17 ft
Clear height
4
Dock-high doors
2
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
981
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60076, IL
34,295
Population
11,908
Households
2.9
Avg Household Size
42
Median Age
52%
College-Educated
91%
High-School Grad
5.1 sq mi
ZIP Area
6,725
Density / Sq Mi
$103,870
Median Household Income
$50,336
Median Earnings
$1,576
Median Rent
$381,000
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Moving Experts, Inc.'s — 3419 w howard st, skokie, il 60076
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- CubeSmart Self Storage — 3526 Oakton St, Skokie, IL 60076
- CubeSmart Self Storage — 2484 Oakton St, Evanston, IL 60202
- Public Storage — 8050 N McCormick Blvd, Skokie, IL 60076
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial condo includes four dock doors, two drive-in doors, and 17’ clear ceiling height.
Where is this warehouse located?
The property is located at 3400-3450 Oakton St Skokie, IL.
What is the asking price?
The asking price for this property is $7,950,000.
What are key features of this property?
This property features: 67,700 SF industrial condo in a 198,200 SF complex, divisible from 25,000 SF; Zoned M3 with 17’ clear ceiling height and flexible layout for warehousing, distribution, or light manufacturing; 4 dock doors plus 2 drive‑in doors for loading and access
