Industrial Warehouse with Loading
4024 N Tripp Ave, Chicago, IL 60641
For Sale
$2,300,000
Flexible industrial layout includes offices, break room, loading access, and on-site parking.
Property Size21,138 SF
Lot Size0.74 Acres
Price / SF$108.81
Days on Market52
Property Features for 4024 N Tripp Ave
General Information
Standard status
Size
Total Parking Spaces
Lot size
Zoning
Site & Location
Neighborhood
Highway Access
Warehouse & Industrial
Clear Height
Dock-High Doors
Drive-In Doors
Additional Details
Land Use
Amenities
kitchen/break room
conference room
private offices
Building Details
Year Built
Buildings
Stories
Building Size
Listing Agency:
Coldwell Banker Realty
Listed By:
Bruce Heller · License #471007740
(312) 320-8245
Source:
Bktchicago
Added: Sep 19
Changed: Oct 25
Last Checked: Oct 7 at 1:25PM
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
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Investment Insights
Based on property information with market context.
This 21,138 SF industrial warehouse occupies a 32,050 SF lot and includes a practical mix of production, storage, and office areas. Interior features include 14-18 ft ceiling heights, 2 drive-in doors, a loading dock door, a kitchen/break room, a large conference room, 3-5 private offices, and a small second-floor office area. Parking includes a 31-car lot plus 7 spaces at the rear. The property is zoned C1-1 and was built in 1969.
Located in Chicago’s Old Irving Park neighborhood, the building is one block from the I-90 / I-94 Irving Park interchange. O’Hare International Airport is 9 miles away, while downtown Chicago is 8 miles from the property. The address is 4024 N Tripp Ave, Chicago, IL 60641.
Located in Chicago’s Old Irving Park neighborhood, the building is one block from the I-90 / I-94 Irving Park interchange. O’Hare International Airport is 9 miles away, while downtown Chicago is 8 miles from the property. The address is 4024 N Tripp Ave, Chicago, IL 60641.
Key Highlights
- 21,138 SF industrial building on a 32,050 SF lot
- 14‑18 ft ceiling heights
- 2 Drive in Doors (15.5 x 13.9 and 13.10 x 13.8)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$160,113
Cap Rate
6.96%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
18 ft
Clear height
1
Dock-high doors
2
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,770
Businesses Nearby
Balanced
Demand for This Use
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
$373,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Warehouses in Chicago, IL
Properties on Market for Warehouses in Chicago
Vacancy Rate% for Industrial in Chicago, IL
Similar Off Market Nearby
- Warehouse 34 — 3401 N Knox Ave, Chicago, IL 60641
- Polana, Inc (Polish Food Online) — 3450 N Kostner Ave, Chicago, IL 60641
- Extra Space Storage — 4400 W Addison St, Chicago, IL 60641
- Nearby Storage Units - Chicago, IL — 4032 n cicero ave, chicago, il 60641
- Melrose Self Storage Unit — 4620 Irving Park Rd, Chicago, IL 60641
Frequently Asked Questions
What type of property is this?
Warehouse - Flexible industrial layout includes offices, break room, loading access, and on-site parking.
Where is this warehouse located?
The property is located at 4024 N Tripp Ave 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; 14‑18 ft ceiling heights; 2 Drive in Doors (15.5 x 13.9 and 13.10 x 13.8)
