Chicago Industrial Building with
For Sale
$2,500,000
6111 South Sayre Avenue, Chicago, IL 60638
Well-kept industrial building near Chicago CBD with flexible space.
Property Size35,000 SF
Price / SF$71.43
Days on Market272
Property Features for 6111 South Sayre Avenue
General Information
Standard status
Active
Size
35,000 SF
Property subtype
Industrial
Building Details
Building Size
35,000 SF
Year Built
1977
Listing Agency:
SVN | Chicago - Corporate
(708) 819-5979
Listed By:
Beverly Hayes
(708) 819-5979
Source:
Svnchicago
Added: Nov 21, 2025
Changed: Aug 8
Last Checked: Aug 20 at 4:45AM
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 SVN | Chicago - Corporate
Investment Insights
Based on property information with market context.
This stand-alone building is located minutes from Chicago's Central Business District. The property is suitable for an owner-user and features high ceilings, good loading capabilities, and heavy floor load. The layout includes wide bays, and the space is easily divisible for sub-leasing purposes. Zoned PMD-12, the property also features fenced outside storage located at the north end, accessible via an oversized drive-in door. The office space, which measures approximately 3,000 square feet, is easily divisible. The property includes abundant fenced parking. A dust collection system is installed at the south end of the property. The building has 1200 amps of 3-phase power. A new driveway was installed two years ago, and a new roof was installed four years ago, with 16 years remaining on the warranty. The property is located two blocks east of Harlem and two blocks north of 63rd Street. Ownership would consider a short-term sale-leaseback of a small portion of the building.
Key Highlights
- Minutes from Chicago's Central Business District
- Zoned PMD‑12 with fenced outside storage and oversized drive‑in door
- High ceilings, good loading, heavy floor load, and wide bays
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
$219,483
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
8.78%
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%
$4,389,660
$4.4M
Cap Rate 7%
$3,135,471
$3.1M
Cap Rate 9%
$2,438,700
$2.4M
Market Conditions
NOI Build-Up for 35,000 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
$330.1K $9.43/SF
− Vacancy
−$16.5K −$0.47/SF
EGI
$313.5K $8.96/SF
− OpEx
−$94.1K −$2.69/SF
NOI
$219.5K $6.27/SF
Area
Chicago, IL
Vacancy
5.00%
Lease Rate
$9.43 /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%
$4,389,660
Cap Rate 7%
$3,135,471
Cap Rate 9%
$2,438,700
Alternative Uses
Best Use
Flex RnD
$5.77M
$5.05M – $6.73M
NOI $404,040 @ 7.0% cap · market cap 16.16%
Second Best
Warehouse
$3.79M
$3.31M – $4.42M
NOI $265,113 @ 7.0% cap · market cap 10.60%
Theoretical Best
Office A
$16.50M
$14.44M – $19.25M
NOI $1,155,168 @ 7.0% cap · market cap 46.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
535
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60638, IL
56,928
Population
21,636
Households
2.6
Avg Household Size
39
Median Age
24%
College-Educated
84%
High-School Grad
11.1 sq mi
ZIP Area
5,129
Density / Sq Mi
$89,191
Median Household Income
$50,902
Median Earnings
$1,327
Median Rent
$283,500
Median Home Value
Market
Vacancy Rate% for Industrial in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Well-kept industrial building near Chicago CBD with flexible space.
Where is this warehouse located?
The property is located at 6111 South Sayre Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Minutes from Chicago's Central Business District; Zoned PMD‑12 with fenced outside storage and oversized drive‑in door; High ceilings, good loading, heavy floor load, and wide bays
