Melrose Park Warehouse
4817 W Lake St, Melrose Park, IL 60160
22,200 SF warehouse on 1.06 acres near O’Hare.
Type:Industrial
Property size:
22,200 SFLot size:
1.06 AcresPrice / SF:
$78/SF- Added:
- Mar 17, 2026
- Days on Market:
- 61
- Last Refresh:
- Mar 20 at 12:00 am
Property Features for 4817 W Lake St
General Information
- Standard status
- Active
- Size
- 22,200 SF
- Lot size
- 1.06 Acres
- Property subtype
- Industrial
Building Details
- Year Built
- 1956
Listing agent Reese Isacson License #475.216.053
Listing date Mar 17, 2026
Source Crexi
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 Reese Isacson
HighLights
- Priced well‑below replacement cost at just under $79 per square foot.
- Vacant property suitable for owner use or lease‑up investment.
- Excellent location adjacent to a Union Pacific intermodal station and in proximity to Chicago O’Hare International Airport.
- Easy access to major interstates (I‑294 and I‑290) approximately 1.5 miles away.
- Warehouse space of approximately 22,200 square feet on 1.06 acres.
- Features include 13’-20’ clear height, three grade‑level doors, three‑phase heavy power (480 volts), TPO roofing, and 15 parking spaces.
Overview
The property at 4817 West Lake Street in Melrose Park, Illinois, offers approximately 22,200 square feet of warehouse space on a 1.06-acre lot. This single-tenant asset features clear heights ranging from 13 to 20 feet, three grade-level doors, and three-phase heavy power with 480 volts. The building is equipped with TPO roofing and includes 15 parking spaces. Situated adjacent to a Union Pacific intermodal station and in proximity to Chicago O’Hare International Airport, the property is about 1.5 miles from the interchange between Interstates 294 and 290. The property is for sale as vacant and can be acquired for owner use or as a lease-up investment opportunity.
Financial Insights
Value Estimation Calculated for Warehouse
Conservative
$1.29M
NOI $116,041 @ 9.00% cap · cautious / downside scenario
Moderate
$1.66M
NOI $116,041 @ 7.00% cap · market / base-case scenario
Aggressive
$2.32M
NOI $116,041 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Warehouse
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $143.9k | $6.48 |
| − Vacancy | −$7.3k | −$0.33 |
| EGI | $136.5k | $6.15 |
| − OpEx | −$20.5k | −$0.92 |
| NOI | $116.0k | $5.23 |
22,200 SF · lease $6.48/SF/yr · vacancy 5.10% · expense 15.00%
Alternative Use Scenarios
Best Use
Warehouse
$1.66M
$1.45M – $1.93M
NOI $116,041 @ 7.0% cap · market cap 6.63%
Second Best
Industrial
$1.37M
$1.19M – $1.59M
NOI $95,564 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$7.66M
$6.71M – $8.94M
NOI $536,525 @ 7.0% cap · market cap 30.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
M L Rongo ...
Production Facility
Similar Places Nearby
- U-Stor-It Self Storage - Melrose Park — 4501 W North Ave, Melrose Park, IL 60160
- Melrose Self Storage — 3717 W Lake St, Melrose Park, IL 60160
- Metro Self Storage — northlake, il 60164
- Diversified Entities, LLC — 5000 West Proviso Dr Unit #2, Melrose Park, IL 60163
- Metro Self Storage - Northlake — 60 Lake St, Northlake, IL 60164
Location Insight
- Map
- Local Demand
- City
- Melrose Park
- County
- Cook
- State
- Illinois
- Longitude
- -87.8931019
- Latitude
- 41.899704
Nearby Similar for Sale
FAQs
What type of property is this?
Warehouse - 22,200 SF warehouse on 1.06 acres near O’Hare.
Where is this warehouse located?
The property is located at 4817 W Lake St Melrose Park, IL.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Priced well‑below replacement cost at just under $79 per square foot.; Vacant property suitable for owner use or lease‑up investment.; Excellent location adjacent to a Union Pacific intermodal station and in proximity to Chicago O’Hare International Airport.
