Renovated School-to-Use
5440 Fargo Ave. Skokie, IL 60077
5440 Fargo Ave., Skokie, IL, 60077
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For Sale
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Single-story building offers office, classroom, and warehouse space following a 2004 renovation.
Property Size24,100 SF
Price / SF$62.03
Days on Market35
Property Features for 5440 Fargo Ave.
General Information
- Standard status
- Active
- Size
- 24,100 SF
- Property subtype
- Office, Industrial
Building Details
- Year Built
- 2004
Listing agency
Block Property Group
Listed by
Greg Block · License #IL 471.013661
Source
Crexi
Added: Jun 17 Updated: Jul 21 at 12:47AM Checked: Jul 21 at 12:47AM
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 Block Property Group
Investment Insights
Based on property information with market context.
This 24,100 square foot single-story building was most recently used as a technical school. Renovated in 2004, it includes a mix of office, classroom, and warehouse space. Classrooms are described as ranging from 750 to 2,500 square feet, supporting flexible interior configurations for a variety of educational or workspace layouts.
The property is located in a business park between Howard and Touhy Avenue, just west of the Edens Expressway. The surrounding area is described as having a strong commercial and industrial presence, with proximity to I-94 and Touhy Avenue.
As currently improved, the building combines classroom and office space with warehouse facilities, making it well-suited for continued education use or redevelopment into office or flex industrial use, subject to applicable approvals.
The property is located in a business park between Howard and Touhy Avenue, just west of the Edens Expressway. The surrounding area is described as having a strong commercial and industrial presence, with proximity to I-94 and Touhy Avenue.
As currently improved, the building combines classroom and office space with warehouse facilities, making it well-suited for continued education use or redevelopment into office or flex industrial use, subject to applicable approvals.
Key Highlights
- 24,100 SF single‑story building renovated in 2004 for office, classroom, and warehouse space
- Former technical school layout includes classrooms ranging from 750 SF to 2,500 SF
- Flexible space mix for office, classroom, or warehouse use based on the 2004 renovation
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $156.2k | $6.48 |
| − Vacancy | −$8.0k | −$0.33 |
| EGI | $148.2k | $6.15 |
| − OpEx | −$22.2k | −$0.92 |
| NOI | $126.0k | $5.23 |
24,100 SF · lease $6.48/SF/yr · vacancy 5.10% · expense 15.00%
Alternative Uses
Best Use
Office B
$4.75M
$4.15M – $5.54M
NOI $332,299 @ 7.0% cap · market cap 22.23%
Second Best
Warehouse
$1.80M
$1.57M – $2.10M
NOI $125,973 @ 7.0% cap · market cap 8.43%
Theoretical Best
Office A
$8.32M
$7.28M – $9.71M
NOI $582,444 @ 7.0% cap · market cap 38.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Touro University - Illinois
Graduate School
Staefa Control System ...
Garden Center
Russian Sunday School
High School
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FAQs
What type of property is this?
School - Single-story building offers office, classroom, and warehouse space following a 2004 renovation.
Where is this school located?
The property is located at 5440 Fargo Ave. Skokie, IL.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 24,100 SF single‑story building renovated in 2004 for office, classroom, and warehouse space; Former technical school layout includes classrooms ranging from 750 SF to 2,500 SF; Flexible space mix for office, classroom, or warehouse use based on the 2004 renovation
