Chicago Industrial Building Near
For Sale
Contact for pricing
Pending
3957 N Normandy Avenue, Chicago, IL 60634
6,200 SF industrial building with M1 zoning near O'Hare.
Property Size6,200 SF
Days on Market158
Property Features for 3957 N Normandy Avenue
General Information
Standard status
Pending
Size
6,200 SF
Property subtype
Industrial
Zoning
INDUS
Building Details
Year Built
1960
Listing Agency:
Strauss Realty
(773) 736-3600
Listed By:
Craig Wolf · License #IL
Source:
Crexi
Added: Mar 16
Changed: Aug 15
Last Checked: Aug 14 at 7:24AM
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.
Located in the Dunning neighborhood of Northwest Chicago, this 6,200 SF single-story industrial building offers convenient access to major transportation routes and O'Hare International Airport. The property includes approximately 500 SF of office space and features two drive-in doors. The warehouse area provides 12'-14' clear ceiling heights, 3-phase 400-amp electrical service, and five existing 5-ton jib cranes. Zoned M1, the property is suitable for a variety of industrial uses such as light manufacturing, production, assembly, and warehousing, as well as automotive and contractor operations. Ample street parking is available. This property presents an opportunity for an owner-user seeking a functional facility in a strategic location near O'Hare and major highways, facilitating efficient operations and convenient regional and global connectivity.
Key Highlights
- Strategic location in Northwest Chicago's Dunning neighborhood, near major transportation and O'Hare Airport.
- M1 zoning supports diverse industrial uses.
- 6,200 SF single‑story building with approx. 500 SF office space.
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
$32,408
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
6.77%
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%
$648,160
$648.2K
Cap Rate 7%
$462,971
$463.0K
Cap Rate 9%
$360,089
$360.1K
Market Conditions
NOI Build-Up for 6,200 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
$40.2K $6.48/SF
− Vacancy
−$2.0K −$0.33/SF
EGI
$38.1K $6.15/SF
− OpEx
−$5.7K −$0.92/SF
NOI
$32.4K $5.23/SF
Area
ZIP 60634
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%
$648,160
Cap Rate 7%
$462,971
Cap Rate 9%
$360,089
Alternative Uses
Best Use
Warehouse
$463.0K
$405.1K – $540.1K
NOI $32,408 @ 7.0% cap · market cap 6.77%
Second Best
Industrial
$381.3K
$333.6K – $444.8K
NOI $26,689 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,342 @ 7.0% cap · market cap 24.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
776
Businesses Nearby
Explore this area
Business Placement
Demographics for 60634, IL
75,694
Population
29,344
Households
2.6
Avg Household Size
41
Median Age
27%
College-Educated
87%
High-School Grad
7.1 sq mi
ZIP Area
10,661
Density / Sq Mi
$84,997
Median Household Income
$46,694
Median Earnings
$1,271
Median Rent
$333,900
Median Home Value
Market
Vacancy Rate% for Industrial in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - 6,200 SF industrial building with M1 zoning near O'Hare.
Where is this manufacturing property located?
The property is located at 3957 N Normandy Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Strategic location in Northwest Chicago's Dunning neighborhood, near major transportation and O'Hare Airport.; M1 zoning supports diverse industrial uses.; 6,200 SF single‑story building with approx. 500 SF office space.
