Food Processing Manufacturing
For Sale
$2,600,000
4820 W Washington St, Skokie, IL 60076
Two-story industrial facility with loading infrastructure, office space, and CX zoning for manufacturing operations.
Property Size26,000 SF
Lot Size0.76 Acres
Price / SF$100
Days on Market71
Property Features for 4820 W Washington St
General Information
Standard status
Active
Size
26,000 SF
Lot size
0.76 Acres
Property subtype
Commercial
Zoning
CX
Warehouse & Industrial
Clear Height
18 ft
Office Build-Out
4,400 SF
Dock-High Doors
3
Drive-In Doors
1
Additional Details
Highway Access
Yes
Building Details
Year Built
1971
Buildings
1
Stories
2
Building Size
26,000 SF
Listing Agency:
Century 21 Circle
Listed By:
Mark Ahmad · License #471007186
(773) 983-1553
Source:
Illianahomesource
Added: Jul 9
Changed: Sep 17
Last Checked: Sep 16 at 1:42PM
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 manufacturing property includes approximately 26,000 square feet of building area on 0.76 acre. The facility has been used for food and wholesale bakery production, including frozen desserts processing, and was constructed in 1971 with updates and renovations completed over time. Current improvements include approximately 4,400 square feet of office area, an 18-foot clear ceiling, three truck loading docks, and one drive-in door. The property is owner-occupied and designated CX, or Core Mixed-Use District.
The site is in Skokie with access to Skokie Boulevard, Cicero Avenue, Golf Road, Waukegan Road, Route 41, Dempster Street, Harlem Avenue, McCormick Road, I-90, I-94, and I-294. The combination of production space, office area, loading capacity, and food-processing improvements supports a range of industrial operating requirements.
The site is in Skokie with access to Skokie Boulevard, Cicero Avenue, Golf Road, Waukegan Road, Route 41, Dempster Street, Harlem Avenue, McCormick Road, I-90, I-94, and I-294. The combination of production space, office area, loading capacity, and food-processing improvements supports a range of industrial operating requirements.
Key Highlights
- Approximately 26,000 square feet of building area on 0.76 acre
- Food and wholesale bakery facility with frozen desserts processing use
- Three truck loading docks plus 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
$135,904
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
5.23%
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%
$2,718,080
$2.7M
Cap Rate 7%
$1,941,486
$1.9M
Cap Rate 9%
$1,510,044
$1.5M
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
−$24.0K −$0.92/SF
NOI
$135.9K $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%
$2,718,080
Cap Rate 7%
$1,941,486
Cap Rate 9%
$1,510,044
Alternative Uses
Best Use
Warehouse
$1.94M
$1.70M – $2.27M
NOI $135,904 @ 7.0% cap · market cap 5.23%
Second Best
Industrial
$1.60M
$1.40M – $1.87M
NOI $111,921 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$8.98M
$7.85M – $10.47M
NOI $628,363 @ 7.0% cap · market cap 24.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
18 ft
Clear height
3
Dock-high doors
1
Drive-in doors
Yes
Highway access
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Two-story industrial facility with loading infrastructure, office space, and CX zoning for manufacturing operations.
Where is this manufacturing property located?
The property is located at 4820 W Washington St Skokie, IL.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Approximately 26,000 square feet of building area on 0.76 acre; Food and wholesale bakery facility with frozen desserts processing use; Three truck loading docks plus one drive‑in door
