Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Cicero Freezer Building with Office Title is generated by Realmo AI

    5331 W 38th St, Cicero, IL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    1.9 acres with freezer building, office, and truck docks.

    Type:INDUSTRIAL
    Property size:
    10,000 SF
    Lot size:
    1.61 Acres
    Added:
    Jul 7, 2023
    Days on Market:
    1046
    Last Refresh:
    Apr 5 at 10:17 pm

    Property Features for 5331 W 38th St

    General Information

    Standard status
    Active
    Size
    10,000 SF
    Lot size
    1.61 Acres
    Property subtype
    INDUSTRIAL

    We can help!

    Listing Contact
    Alex Kritt
    Alex Kritt

    Listing agent Alex Kritt

    Listing office Colliers | Chicago Rosemont

    Listing date Jul 7, 2023

    Source Moodyscre

    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 Colliers | Chicago Rosemont

    HighLights

    • 1.9 acres of land with a 7,500 SF freezer building and 2,500 SF office space.
    • Zoned M‑2, allowing for outside storage and trailer parking.
    • Freezer building includes four (4) truck level docks.
    • 17’7” ceiling height in the freezer building.
    • Equipped with three‑phase power.
    • Includes a separate 2,500 SF office building.

    Overview

    The property features a 1.9-acre land site improved with an approximately 7,500-square-foot freezer building and a 2,500-square-foot office building. The freezer building includes four truck-level docks and a 17'7" ceiling height. The property is equipped with three-phase power. It is zoned M-2, allowing for outside storage and trailer parking.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cicero
    County
    Cook
    State
    Illinois
    Longitude
    -87.7573
    Latitude
    41.8234

    Nearby Similar for Sale

    • $675,000
      18,500 SF

      Versatile Commercial Building in Cicero

      18,500 SF building suitable for office, retail, or warehouse.
      4606 W CERMAK Road, Cicero, IL 60804
      View Details
    • $675,000
      18,500 SF

      Cicero Commercial Building For Sale

      18,500 SF building suitable for office, retail, or warehouse.
      4606 W CERMAK Road, Cicero, IL 60804
      View Details
    • $675,000
      18,500 SF

      Mixed-Use Building in Cicero, IL

      18,500 SF mixed-use building with office and warehouse space.
      4606 W CERMAK Road, Cicero, IL 60804
      View Details
    • $565,417

      Mixed-Use Property on Central Avenue

      Mixed-use property with residential units and a storefront bar.
      2345 S Central Avenue, Cicero, IL 60804
      View Details
    • $450,000

      Remodeled Duplex in Cicero, IL

      Completely remodeled 2-unit property with modern upgrades and amenities.
      2806 S 48th Court, Cicero, IL 60804
      View Details
    • $585,000

      Legal Four-Unit Apartment Building

      Fully occupied four-unit building with potential for additional income.
      5122 W 30th Place, Cicero, IL 60804
      View Details
    • $2,250,000
      9,656 SF

      Established Auto Repair Business Opportunity

      Prime commercial corner location, long-standing auto repair business for sale.
      5000 W Cermak Road W, Cicero, IL 60804
      View Details
    • $479,999

      Cicero Multifamily Investment Opportunity

      Two-unit building with finished basement and recent updates.
      1221 S Austin Boulevard, Cicero, IL 60804
      View Details
    • $489,000

      Cicero Brick Two-Unit Building

      Tenant-occupied two-unit building in Cicero, ideal for investors.
      1514 S 59th Court, Cicero, IL 60804
      View Details
    • $479,900

      Cicero Multi-Family Investment Opportunity

      Well-maintained three-unit building in a thriving Cicero neighborhood.
      1841 S 61ST Court, Cicero, IL 60804
      View Details
    • $305,000

      Well-Maintained Cicero Multi-Family Property

      Two-unit property in excellent location near amenities.
      2833 S 50th Court, Cicero, IL 60804
      View Details
    • $795,000

      Upgraded Mixed-Use Property in Cicero

      Mixed-use property with apartments, storefront, and adjacent lot.
      5801 W 16th Street, Cicero, IL 60804
      View Details

    FAQs

    What type of property is this?
    Warehouse - 1.9 acres with freezer building, office, and truck docks.
    Where is this warehouse located?
    The property is located at 5331 W 38th St Cicero, IL.
    What are key features of this property?
    This property features: 1.9 acres of land with a **7,500 SF freezer building and 2,500 SF office space.**; Zoned M‑2, allowing for outside storage and trailer parking.; Freezer building includes **four (4) truck level docks.**
    (847) 698-8537 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Alex Kritt
    Alex Kritt
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5331 W 38th St, Cicero, IL
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!