Industrial/Manufacturing Building with Overhead Door
For Sale
$649,900
4730 W Armitage Avenue, Chicago, IL 60639
5,625 SF industrial/manufacturing building with overhead door access, private office, and pallet-racked storage across from Home Depot.
Property Size5,625 SF
Price / SF$115.54
Days on Market39
Property Features for 4730 W Armitage Avenue
General Information
Standard status
Active
Size
5,625 SF
Property subtype
COMMERCIAL
Building Details
Building Size
5,625 SF
Year Built
1929
Listing Agency:
Keller Williams ONEChicago
(773) 617-8880
Listed By:
Greg Viti · License #475122100
Source:
Harkinsandassociates
Added: Jul 6
Changed: Jul 31
Last Checked: Aug 12 at 3:40PM
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 Keller Williams ONEChicago
Investment Insights
Based on property information with market context.
This versatile industrial/manufacturing building offers 5,625 square feet of open work areas supported by a comfortable private office. Dedicated storage includes pallet racking, and the space is designed for overhead door access and flexible operations, with room for equipment, inventory, or production. Interior highlights include high ceilings, exposed brick, and abundant natural light.
The property is located in a high-traffic setting directly across from Home Depot, supporting convenient access for daily deliveries and service operations. Easy connectivity to major transportation routes can be useful for manufacturing, warehousing, distribution, contractors, or light industrial use.
Built in 1929, the building’s adaptable layout and practical loading access make it suitable for tenants seeking an industrial footprint that can support multiple workflows.
The property is located in a high-traffic setting directly across from Home Depot, supporting convenient access for daily deliveries and service operations. Easy connectivity to major transportation routes can be useful for manufacturing, warehousing, distribution, contractors, or light industrial use.
Built in 1929, the building’s adaptable layout and practical loading access make it suitable for tenants seeking an industrial footprint that can support multiple workflows.
Key Highlights
- 5,625‑square‑foot industrial/manufacturing building
- Overhead door access for loading and operations
- Private office plus expansive open work areas
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
$26,707
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
4.11%
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%
$534,140
$534.1K
Cap Rate 7%
$381,529
$381.5K
Cap Rate 9%
$296,744
$296.7K
Market Conditions
NOI Build-Up for 5,625 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
$36.5K $6.48/SF
− Vacancy
−$5.0K −$0.89/SF
EGI
$31.4K $5.59/SF
− OpEx
−$4.7K −$0.84/SF
NOI
$26.7K $4.75/SF
Area
ZIP 60639
Vacancy
13.80%
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%
$534,140
Cap Rate 7%
$381,529
Cap Rate 9%
$296,744
Alternative Uses
Best Use
Warehouse
$381.5K
$333.8K – $445.1K
NOI $26,707 @ 7.0% cap · market cap 4.11%
Second Best
Industrial
$314.2K
$274.9K – $366.6K
NOI $21,994 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$2.49M
$2.18M – $2.90M
NOI $174,096 @ 7.0% cap · market cap 26.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,601
Businesses Nearby
Explore this area
Business Placement
Demographics for 60639, IL
89,543
Population
28,656
Households
3.1
Avg Household Size
34
Median Age
15%
College-Educated
69%
High-School Grad
5.0 sq mi
ZIP Area
17,909
Density / Sq Mi
$59,710
Median Household Income
$34,846
Median Earnings
$1,212
Median Rent
$289,000
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?
Manufacturing property - 5,625 SF industrial/manufacturing building with overhead door access, private office, and pallet-racked storage across from Home Depot.
Where is this manufacturing property located?
The property is located at 4730 W Armitage Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 5,625‑square‑foot industrial/manufacturing building; Overhead door access for loading and operations; Private office plus expansive open work areas
