Light Industrial Food Processing
For Sale
$2,699,000
4820 W Washington Street, Skokie, IL 60076
Two-story manufacturing building with food-processing improvements, loading access, office space, and an 18-foot clear ceiling.
Property Size26,000 SF
Lot Size0.76 Acres
Price / SF$103.81
Days on Market29
Property Features for 4820 W Washington Street
General Information
Standard status
Active
Size
26,000 SF
Lot size
0.76 Acres
Property subtype
Commercial
Zoning
COMMR
Warehouse & Industrial
Clear Height
18 ft
Office Build-Out
4,400 SF
Dock-High Doors
3
Drive-In Doors
1
Cold Storage
Yes
Taxes and HOA fees
Annual Taxes
$112,332
Building Details
Building Size
26,000 SF
Year Built
1971
Buildings
1
Stories
1
Units
1
Listing Agency:
Century 21 Circle
(773) 465-4200
Listed By:
Mark Ahmad · License #471007186
(773) 465-4200
Source:
Allinonerealestateco
Added: Jul 17
Changed: Aug 13
Last Checked: Aug 13 at 12:34PM
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 Century 21 Circle
Investment Insights
Based on property information with market context.
This two-story light industrial property includes approximately 26,000 square feet of building area on about 33,000 square feet of land, or 0.76 acre. The owner-occupied facility operates as a food and wholesale bakery and frozen-dessert processing site, with improvements updated and renovated periodically since its 1971 construction. The building includes approximately 4,400 square feet of office space, an 18-foot clear ceiling, three truck loading docks, and one drive-in door.
The property is located in Skokie with access to Skokie Boulevard, Cicero Avenue, Golf Road, Waukegan Road, Route 41, Dempster Street, Harlem Avenue, and McCormick Road. Interstates I-90, I-94, and I-294 are also within minutes of the facility.
The property is located in Skokie with access to Skokie Boulevard, Cicero Avenue, Golf Road, Waukegan Road, Route 41, Dempster Street, Harlem Avenue, and McCormick Road. Interstates I-90, I-94, and I-294 are also within minutes of the facility.
Key Highlights
- Approximately 26,000 SF building on about 33,000 SF of land, or 0.76 acre
- Food and wholesale bakery and frozen‑dessert processing facility
- Three truck loading docks and one drive‑in door
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
$111,921
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
4.15%
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%
$2,238,420
$2.2M
Cap Rate 7%
$1,598,871
$1.6M
Cap Rate 9%
$1,243,567
$1.2M
Market Conditions
NOI Build-Up for 26,000 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
$168.5K $6.48/SF
− Vacancy
−$8.6K −$0.33/SF
EGI
$159.9K $6.15/SF
− OpEx
−$48.0K −$1.84/SF
NOI
$111.9K $4.30/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
30.00%
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%
$2,238,420
Cap Rate 7%
$1,598,871
Cap Rate 9%
$1,243,567
Alternative Uses
Best Use
Flex RnD
$3.91M
$3.42M – $4.56M
NOI $273,780 @ 7.0% cap · market cap 10.14%
Second Best
Industrial
$1.60M
$1.40M – $1.87M
NOI $111,921 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$8.98M
$7.85M – $10.47M
NOI $628,363 @ 7.0% cap · market cap 23.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
3
Dock-high doors
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,764
Businesses Nearby
Explore this area
Business Placement
Demographics for 60076, IL
34,295
Population
11,908
Households
2.9
Avg Household Size
42
Median Age
52%
College-Educated
91%
High-School Grad
5.1 sq mi
ZIP Area
6,725
Density / Sq Mi
$103,870
Median Household Income
$50,336
Median Earnings
$1,576
Median Rent
$381,000
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Two-story manufacturing building with food-processing improvements, loading access, office space, and an 18-foot clear ceiling.
Where is this manufacturing property located?
The property is located at 4820 W Washington Street Skokie, IL.
What is the asking price?
The asking price for this property is $2,699,000.
What are key features of this property?
This property features: Approximately 26,000 SF building on about 33,000 SF of land, or 0.76 acre; Food and wholesale bakery and frozen‑dessert processing facility; Three truck loading docks and one drive‑in door
