Corner Flex Warehouse with
For Sale
$1,050,000
4135 Lawrence Avenue, Chicago, IL 60630
This corner flex warehouse is configured with two drive-in doors and a fenced parking lot onsite.
Property Size6,109 SF
Price / SF$171.88
Days on Market274
Property Features for 4135 Lawrence Avenue
General Information
Standard status
Active
Size
6,109 SF
Property subtype
General Commercial
Additional Details
Traffic Count
16,000 vehicles/day
Drive-In Doors
2
Taxes and HOA fees
Annual Taxes
$21,061
Amenities
Central Air
3
Building Details
Year Built
1962
Listing Agency:
Strauss Realty Ltd
(773) 736-3600
Listed By:
Adam Schneiderman · License #475149601
Source:
Xome
Added: Nov 8, 2025
Changed: Aug 8
Last Checked: Aug 9 at 5:01AM
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 Strauss Realty Ltd
Investment Insights
Based on property information with market context.
This corner flex warehouse is configured with two drive-in doors and includes a fenced parking lot onsite. The property offers flexible space that can support a mix of commercial uses, including office, retail, or partial warehouse operations.
The site is located on W Lawrence Avenue and is described as having high visibility with signage. The surrounding retail and financial mix includes Albany Bank, McDonald's, Keystone Ace Hardware, Fifth Third Bank, Walgreens, and Dunkin'.
With drive-in access and fenced parking, the building is suited for tenants needing straightforward loading and on-site vehicle management within a highly visible corner setting.
The site is located on W Lawrence Avenue and is described as having high visibility with signage. The surrounding retail and financial mix includes Albany Bank, McDonald's, Keystone Ace Hardware, Fifth Third Bank, Walgreens, and Dunkin'.
With drive-in access and fenced parking, the building is suited for tenants needing straightforward loading and on-site vehicle management within a highly visible corner setting.
Key Highlights
- Corner commercial property in Albany Park with high visibility and signage
- 2 drive‑in doors and a flex layout suited for office, retail, or partial warehouse use
- Fenced parking lot onsite
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
$70,522
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
6.72%
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%
$1,410,440
$1.4M
Cap Rate 7%
$1,007,457
$1.0M
Cap Rate 9%
$783,578
$783.6K
Market Conditions
NOI Build-Up for 6,109 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
$117.3K $19.20/SF
− Vacancy
−$8.8K −$1.44/SF
EGI
$108.5K $17.76/SF
− OpEx
−$38.0K −$6.22/SF
NOI
$70.5K $11.54/SF
Area
Chicago, IL
Vacancy
7.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
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%
$1,410,440
Cap Rate 7%
$1,007,457
Cap Rate 9%
$783,578
Alternative Uses
Best Use
Flex RnD
$1.01M
$881.5K – $1.18M
NOI $70,522 @ 7.0% cap · market cap 6.72%
Second Best
Warehouse
$661.1K
$578.4K – $771.2K
NOI $46,274 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$2.88M
$2.52M – $3.36M
NOI $201,626 @ 7.0% cap · market cap 19.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Drive-in doors
16,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60630, IL
54,064
Population
23,393
Households
2.3
Avg Household Size
40
Median Age
44%
College-Educated
91%
High-School Grad
4.7 sq mi
ZIP Area
11,503
Density / Sq Mi
$97,134
Median Household Income
$54,576
Median Earnings
$1,357
Median Rent
$362,900
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?
Flex space - This corner flex warehouse is configured with two drive-in doors and a fenced parking lot onsite.
Where is this flex space located?
The property is located at 4135 Lawrence Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Corner commercial property in Albany Park with high visibility and signage; 2 drive‑in doors and a flex layout suited for office, retail, or partial warehouse use; Fenced parking lot onsite
