Industrial Building with Loading
New
For Sale
$2,300,000
4020 N Tripp, Chicago, IL 60641
Office, conference and break-room areas are incorporated alongside the industrial space.
Property Size21,138 SF
Lot Size0.74 Acres
Price / SF$108.81
Days on Market5
Property Features for 4020 N Tripp
General Information
Standard status
Active
Size
21,138 SF
Total Parking Spaces
38
Lot size
0.74 Acres
Property subtype
Industrial
Zoning
C1-1
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
2
Additional Details
Highway Access
Yes
Amenities
kitchen/break room
large conference room
Building Details
Building Size
21,138 SF
Year Built
1959
Buildings
1
Listing Agency:
Coldwell Banker Realty
Listed By:
Bruce Heller · License #471007740
(312) 320-8245
Source:
Cbcworldwide
Added: Sep 28
Last Checked: Oct 1 at 8:01AM
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.
This 21,138-square-foot industrial building occupies a 32,050-square-foot lot and was built in 1959. The property includes a depressed loading dock with 55 feet of depth, plus two drive-in doors measuring 15.5 x 13.9 feet and 14 x 14.10 feet. Ceiling heights range from 14 to 18 feet. Interior office amenities include three to five private offices, a large conference room, a kitchen and break room, and a small second-floor office area.
Parking is provided by a 31-car lot and seven additional spaces at the rear. The property is zoned C1-1 and is one block from the I-90/I-94 Irving Park interchange. O'Hare International Airport is 9 miles away, and downtown Chicago is 8 miles away.
Parking is provided by a 31-car lot and seven additional spaces at the rear. The property is zoned C1-1 and is one block from the I-90/I-94 Irving Park interchange. O'Hare International Airport is 9 miles away, and downtown Chicago is 8 miles away.
Key Highlights
- 21,138 SF industrial building on a 32,050 SF lot
- Depressed loading dock with 55 ft of depth
- Two drive‑in doors: 15.5 x 13.9 and 14 x 14.10
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
$160,113
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
6.96%
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%
$3,202,260
$3.2M
Cap Rate 7%
$2,287,329
$2.3M
Cap Rate 9%
$1,779,033
$1.8M
Market Conditions
NOI Build-Up for 21,138 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
$199.3K $9.43/SF
− Vacancy
−$11.0K −$0.52/SF
EGI
$188.4K $8.91/SF
− OpEx
−$28.3K −$1.34/SF
NOI
$160.1K $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%
$3,202,260
Cap Rate 7%
$2,287,329
Cap Rate 9%
$1,779,033
Alternative Uses
Best Use
Warehouse
$2.29M
$2.00M – $2.67M
NOI $160,113 @ 7.0% cap · market cap 6.96%
Second Best
Industrial
$1.89M
$1.66M – $2.21M
NOI $132,555 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$9.97M
$8.72M – $11.63M
NOI $697,655 @ 7.0% cap · market cap 30.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18 ft
Clear height
2
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,770
Businesses Nearby
Explore this area
Business Placement
Demographics for 60641, IL
69,354
Population
27,377
Households
2.5
Avg Household Size
37
Median Age
36%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
17,339
Density / Sq Mi
$81,649
Median Household Income
$46,376
Median Earnings
$1,249
Median Rent
$373,200
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?
Industrial property - Office, conference and break-room areas are incorporated alongside the industrial space.
Where is this industrial property located?
The property is located at 4020 N Tripp Chicago, IL.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 21,138 SF industrial building on a 32,050 SF lot; Depressed loading dock with 55 ft of depth; Two drive‑in doors: 15.5 x 13.9 and 14 x 14.10
