Melrose Park Warehouse
For Sale
Contact for pricing
4817 W Lake St, Melrose Park, IL 60160
22,200 SF warehouse on 1.06 acres near O’Hare.
Property Size22,200 SF
Lot Size1.06 Acres
Price / SF$78.83
Days on Market153
Property Features for 4817 W Lake St
General Information
Standard status
Active
Size
22,200 SF
Class
B
Lot size
1.06 Acres
Property subtype
Industrial
Zoning
C
Building Details
Year Built
1956
Buildings
1
Units
1
Listing Agency:
Marcus & Millichap - Dallas
(972) 755-5200
Listed By:
Reese Isacson · License #475.216.053
Source:
Crexi
Added: Mar 17
Changed: Aug 8
Last Checked: Aug 8 at 6:41AM
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 Marcus & Millichap - Dallas
Investment Insights
Based on property information with market context.
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.
Key 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.
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
$116,041
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
6.63%
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%
$2,320,820
$2.3M
Cap Rate 7%
$1,657,729
$1.7M
Cap Rate 9%
$1,289,344
$1.3M
Market Conditions
NOI Build-Up for 22,200 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
$143.9K $6.48/SF
− Vacancy
−$7.3K −$0.33/SF
EGI
$136.5K $6.15/SF
− OpEx
−$20.5K −$0.92/SF
NOI
$116.0K $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%
$2,320,820
Cap Rate 7%
$1,657,729
Cap Rate 9%
$1,289,344
Alternative Uses
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
516
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60160, IL
24,776
Population
8,947
Households
2.8
Avg Household Size
35
Median Age
15%
College-Educated
71%
High-School Grad
4.6 sq mi
ZIP Area
5,386
Density / Sq Mi
$64,740
Median Household Income
$39,722
Median Earnings
$1,194
Median Rent
$265,000
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.
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- Diversified Entities, LLC — 5000 West Proviso Dr Unit #2, Melrose Park, IL 60163
- Metro Self Storage - Northlake — 60 Lake St, Northlake, IL 60164
Frequently Asked Questions
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.
