Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Functional Standalone Building and Yard Title is generated by Realmo AI

    3840 South Laramie Avenue, Cicero, IL 60804

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Standalone building with secured yard, ideal for transportation and logistics.

    Type:Industrial
    Property size:
    15,170 SF
    Added:
    Nov 26, 2025
    Days on Market:
    176
    Last Refresh:
    Apr 5 at 9:34 pm

    Property Features for 3840 South Laramie Avenue

    General Information

    Standard status
    Active
    Size
    15,170 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    1959

    We can help!

    Listing Contact
    Dylan Maher
    Dylan Maher

    Listing agent Dylan Maher License #471019227

    Listing office Lee & Associates | Chicago

    Listing date Nov 26, 2025

    Source Lee-associates

    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 Lee & Associates | Chicago

    HighLights

    • Direct access to I‑55 via Cicero Avenue and Central Ave
    • Functional standalone building and yard
    • Fully fenced and secured yard
    • New roof on warehouse (2024) and office (2025) with new office windows (2025) and full building tuckpointing (2025)
    • Ideal for transportation, logistics, equipment rental, fleet parking, contractor storage yard, etc.
    • Two points of ingress & egress

    Overview

    This functional standalone building and yard is available for sale, offering direct access to I-55 via Cicero Avenue (0.8 miles) and Central Ave (1.2 miles). The property features a fully fenced and secured yard with two points of ingress and egress. It is ideally suited for transportation, logistics, equipment rental, fleet parking, and contractor storage yard purposes. The warehouse will have a new roof in 2024, and the office will have a new roof and new office windows in 2025, along with full building tuckpointing in 2025. The office also benefits from a new furnace and air conditioning system installed in 2023. The property is located in Cicero, IL.
    Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Extra Space Storage — 5701 Ogden Ave, Cicero, IL 60804
    • Nearby Storage Units - Cicero, IL — 4742 w cermak rd, cicero, il 60804
    • Nearby Storage Units — 4742 W Cermak Rd, Cicero, IL 60804
    • Self Storage — 2601 s cicero ave, cicero, il 60804
    • Route 66 Towing Service Grua Tow Truck — 1817 S 55th Ave, Cicero, IL 60804

    Location Insight

    • Map
    • Local Demand
    City
    Cicero
    County
    Cook
    State
    Illinois
    Longitude
    -87.7538
    Latitude
    41.8222

    Nearby Similar for Sale

    • $675,000
      18,500 SF

      Versatile Commercial Building in Cicero

      18,500 SF building suitable for office, retail, or warehouse.
      4606 W CERMAK Road, Cicero, IL 60804
      View Details
    • $675,000
      18,500 SF

      Cicero Commercial Building For Sale

      18,500 SF building suitable for office, retail, or warehouse.
      4606 W CERMAK Road, Cicero, IL 60804
      View Details
    • $675,000
      18,500 SF

      Mixed-Use Building in Cicero, IL

      18,500 SF mixed-use building with office and warehouse space.
      4606 W CERMAK Road, Cicero, IL 60804
      View Details
    • $565,417

      Mixed-Use Property on Central Avenue

      Mixed-use property with residential units and a storefront bar.
      2345 S Central Avenue, Cicero, IL 60804
      View Details
    • $450,000

      Remodeled Duplex in Cicero, IL

      Completely remodeled 2-unit property with modern upgrades and amenities.
      2806 S 48th Court, Cicero, IL 60804
      View Details
    • $585,000

      Legal Four-Unit Apartment Building

      Fully occupied four-unit building with potential for additional income.
      5122 W 30th Place, Cicero, IL 60804
      View Details
    • $2,250,000
      9,656 SF

      Established Auto Repair Business Opportunity

      Prime commercial corner location, long-standing auto repair business for sale.
      5000 W Cermak Road W, Cicero, IL 60804
      View Details
    • $479,999

      Cicero Multifamily Investment Opportunity

      Two-unit building with finished basement and recent updates.
      1221 S Austin Boulevard, Cicero, IL 60804
      View Details
    • $489,000

      Cicero Brick Two-Unit Building

      Tenant-occupied two-unit building in Cicero, ideal for investors.
      1514 S 59th Court, Cicero, IL 60804
      View Details
    • $305,000

      Well-Maintained Cicero Multi-Family Property

      Two-unit property in excellent location near amenities.
      2833 S 50th Court, Cicero, IL 60804
      View Details
    • $575,000

      Cicero Multifamily Property for Sale

      Multifamily property in Cicero, Illinois, available for purchase.
      1807 S 49th Avenue, Cicero, IL 60804
      View Details
    • $795,000

      Upgraded Mixed-Use Property in Cicero

      Mixed-use property with apartments, storefront, and adjacent lot.
      5801 W 16th Street, Cicero, IL 60804
      View Details

    FAQs

    What type of property is this?
    Warehouse - Standalone building with secured yard, ideal for transportation and logistics.
    Where is this warehouse located?
    The property is located at 3840 South Laramie Avenue Cicero, IL.
    What are key features of this property?
    This property features: Direct access to I‑55 via Cicero Avenue and Central Ave; Functional standalone building and yard; Fully fenced and secured yard
    (773) 355-3033
    We can help!
    Listing Contact
    Dylan Maher
    Dylan Maher
    Real Estate License ID: 471019227
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3840 South Laramie Avenue, Cicero, IL 60804
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!