Industrial Warehouse with Office
6040 Oakton Street, Morton Grove, IL 60053
For Sale
$2,950,000
Manufacturing zoning, substantial electrical capacity, and dedicated office areas support a range of industrial operations.
Property Size41,000 SF
Lot Size1.63 Acres
Price / SF$71.95
Days on Market66
Property Features for 6040 Oakton Street
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Warehouse & Industrial
Warehouse Space
Drive-In Doors
Additional Details
Road Access
Currently Operating
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
reception area
conference room
lunchroom
executive office with fireplace
Building Details
Building Size
Year Built
Stories
Construction
Listing Agency:
Berkshire Hathaway HomeServices Chicago
Listed By:
George Michael
(847) 510-5000
Source:
Ifindpropertiesllc
Added: Sep 3
Changed: Nov 7
Last Checked: Nov 7 at 5:37PM
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 Berkshire Hathaway HomeServices Chicago
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Investment Insights
Based on property information with market context.
This brick industrial facility contains approximately 41,000 square feet on a 71,000-square-foot lot and is currently used to manufacture wood tables and furniture. Two drive-in docks have 14-foot doors, and the building has substantial electrical capacity. Front office areas include reception, multiple offices, a lunchroom, a conference room, and an executive office with a sitting area and fireplace. The property also has four bathrooms and at least 25 parking spaces.
The building fronts Oakton Street in Morton Grove, with over 200 feet of frontage. Zoning is MANUF. The facility is configured for manufacturing, distribution, storage, or office use.
The building fronts Oakton Street in Morton Grove, with over 200 feet of frontage. Zoning is MANUF. The facility is configured for manufacturing, distribution, storage, or office use.
Key Highlights
- Approximately 41,000 square feet of warehouse space on a 71,000 square foot lot
- Two drive‑in docks with 14‑foot doors
- Over 200 feet of frontage on Oakton Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$214,311
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,286,220
$4.3M
Cap Rate 7%
$3,061,586
$3.1M
Cap Rate 9%
$2,381,233
$2.4M
Market Conditions
NOI Build-Up for 41,000 SF
Gross rent
$265.7K $6.48/SF
− Vacancy
−$13.5K −$0.33/SF
EGI
$252.1K $6.15/SF
− OpEx
−$37.8K −$0.92/SF
NOI
$214.3K $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 Rate 5%
$4,286,220
Cap Rate 7%
$3,061,586
Cap Rate 9%
$2,381,233
Alternative Uses
Best Use
Warehouse
$3.06M
$2.68M – $3.57M
NOI $214,311 @ 7.0% cap · market cap 7.26%
Second Best
Industrial
$2.52M
$2.21M – $2.94M
NOI $176,491 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$14.16M
$12.39M – $16.51M
NOI $990,880 @ 7.0% cap · market cap 33.59%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Current Use
Lease Details
2
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
812
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60053, IL
25,297
Population
9,546
Households
2.7
Avg Household Size
45
Median Age
52%
College-Educated
90%
High-School Grad
5.1 sq mi
ZIP Area
4,960
Density / Sq Mi
$106,078
Median Household Income
$61,315
Median Earnings
$2,210
Median Rent
$377,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Warehouses in Cook County, IL
Properties on Market for Warehouses in Cook County
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Warehouse - Manufacturing zoning, substantial electrical capacity, and dedicated office areas support a range of industrial operations.
Where is this warehouse located?
The property is located at 6040 Oakton Street Morton Grove, IL.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Approximately 41,000 square feet of warehouse space on a 71,000 square foot lot; Two drive‑in docks with 14‑foot doors; Over 200 feet of frontage on Oakton Street
