Four-Unit Industrial
For Sale
$2,275,000
4500 137th Street, Crestwood, IL 60418
Commercial Sale, Crestwood, IL
Property Size21,872 SF
Lot Size1.42 Acres
Price / SF$104.01
Days on Market49
Property Features for 4500 137th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
INDUS
Directions
Cicero S of 135th to 137th E to property
Subdivision
Crestwood
Standard status
Active
APN
28031014200000
Lot size
1.42 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
60251
Utilities
Utilities
Natural Gas Available
Cooling system
Central Air
Building Details
Year built
1988
Floors in Building
1
Number of units
4
Flooring type
Concrete
Building materials
Block
Roof type
Membrane
Listing Agency:
RE/MAX Liberty · RE/MAX International
(630) 825-2700
Listed By:
Elizabeth Cain Waller
(847) 217-5795
Added: Jul 15
Changed: Aug 20
Last Checked: Sep 1 at 7:06PM
MLS# 12701612
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This industrial warehouse property contains four units totaling approximately 21,872 square feet on 1.42 acres. Each unit has its own furnace, central air conditioning, hot water tank, and water service. The building features concrete flooring, a membrane roof, and 20-foot interior height. Garage doors measure 14 by 10 feet, and the northernmost unit includes a spraying booth.
Located within an industrial business park at 4500 137th Street in Crestwood, the property offers access to Interstate routes. Zoning is designated INDUS, with natural gas available. Built in 1988, the facility provides a multi-unit configuration suited to industrial warehouse operations.
Located within an industrial business park at 4500 137th Street in Crestwood, the property offers access to Interstate routes. Zoning is designated INDUS, with natural gas available. Built in 1988, the facility provides a multi-unit configuration suited to industrial warehouse operations.
Key Highlights
- Four units totaling approximately 21,872 square feet
- 1.42‑acre industrial property at 4500 137th Street, Crestwood, IL 60418
- 20‑foot interior height with 14x10 garage doors
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
$114,327
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
5.03%
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%
$2,286,540
$2.3M
Cap Rate 7%
$1,633,243
$1.6M
Cap Rate 9%
$1,270,300
$1.3M
Market Conditions
NOI Build-Up for 21,872 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
$141.7K $6.48/SF
− Vacancy
−$7.2K −$0.33/SF
EGI
$134.5K $6.15/SF
− OpEx
−$20.2K −$0.92/SF
NOI
$114.3K $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%
$2,286,540
Cap Rate 7%
$1,633,243
Cap Rate 9%
$1,270,300
Alternative Uses
Best Use
Warehouse
$1.63M
$1.43M – $1.91M
NOI $114,327 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.55M
$6.61M – $8.81M
NOI $528,598 @ 7.0% cap · market cap 23.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
Yes
Highway access
Yes
Utilities to site
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
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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 business park property with individually serviced units, concrete floors, and direct access to Interstate routes.
Where is this warehouse located?
The property is located at 4500 137th Street 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 units totaling approximately 21,872 square feet; 1.42‑acre industrial property at 4500 137th Street, Crestwood, IL 60418; 20‑foot interior height with 14x10 garage doors
