Four-Unit Warehouse
For Sale
$2,275,000
4500 137th St, Crestwood, IL 60418
Industrial warehouse complex with separate utility systems and convenient Interstate access.
Property Size20,813 SF
Price / SF$109.31
Days on Market61
Property Features for 4500 137th St
General Information
Standard status
Active
Size
20,813 SF
Property subtype
Commercial
Building Details
Year Built
1988
Listing Agency:
RE/MAX Liberty
(312) 606-0540
Listed By:
Elizabeth Cain Waller
Source:
Illianahomesource
Added: Jul 1
Changed: Aug 29
Last Checked: Aug 29 at 4:30PM
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 RE/MAX Liberty
Investment Insights
Based on property information with market context.
This four-unit warehouse property occupies 1.42 acres within an industrial business park. The building features all brick/CBS construction, approximately 20-foot interior height, and 14-by-10-foot garage doors. Each unit has its own furnace, AC, hot water tank, and water service. A spraying booth is located in the last unit on the north side.
Built in 1988, the property offers access to an Interstate while maintaining a multi-unit industrial configuration. The separate systems provide distinct utility infrastructure for each unit, and the individual warehouse layout supports flexible occupancy arrangements.
Built in 1988, the property offers access to an Interstate while maintaining a multi-unit industrial configuration. The separate systems provide distinct utility infrastructure for each unit, and the individual warehouse layout supports flexible occupancy arrangements.
Key Highlights
- Four warehouse units on 1.42 acres
- All brick/CBS construction completed in 1988
- Approximately 20‑foot interior height
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
$108,791
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
4.78%
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%
$2,175,820
$2.2M
Cap Rate 7%
$1,554,157
$1.6M
Cap Rate 9%
$1,208,789
$1.2M
Market Conditions
NOI Build-Up for 20,813 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
$134.9K $6.48/SF
− Vacancy
−$6.9K −$0.33/SF
EGI
$128.0K $6.15/SF
− OpEx
−$19.2K −$0.92/SF
NOI
$108.8K $5.23/SF
Area
Cook County, IL
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%
$2,175,820
Cap Rate 7%
$1,554,157
Cap Rate 9%
$1,208,789
Alternative Uses
Best Use
Warehouse
$1.55M
$1.36M – $1.81M
NOI $108,791 @ 7.0% cap · market cap 4.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.19M
$6.29M – $8.38M
NOI $503,005 @ 7.0% cap · market cap 22.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
920
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60418, IL
10,813
Population
5,331
Households
2
Avg Household Size
49
Median Age
23%
College-Educated
91%
High-School Grad
3.0 sq mi
ZIP Area
3,604
Density / Sq Mi
$69,237
Median Household Income
$52,518
Median Earnings
$1,300
Median Rent
$187,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Copher Movers & Storage Inc — 4731 midlothian turnpike ste 32, crestwood, il 60418
- iStorage — 4501 W 135th St, Crestwood, IL 60418
- SmartStop Self Storage — 4747 Cal Sag Rd, Crestwood, IL 60445
- Hearn Industrial Services Inc — 13144 S Pulaski Rd, Alsip, IL 60803
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse complex with separate utility systems and convenient Interstate access.
Where is this warehouse located?
The property is located at 4500 137th St Crestwood, IL.
What is the asking price?
The asking price for this property is $2,275,000.
What are key features of this property?
This property features: Four warehouse units on 1.42 acres; All brick/CBS construction completed in 1988; Approximately 20‑foot interior height
