Bedford Park Industrial
For Sale
Contact for pricing
6226 W 74th Street, Bedford Park, IL 60638
344,450 sqft industrial property for sale.
Property Size344,450 SF
Price / SF$67.93
Days on Market100
Property Features for 6226 W 74th Street
General Information
Standard status
Active
Size
344,450 SF
Total Parking Spaces
103
Property subtype
Industrial
Zoning
I-1 (Light Manufacturing)
Building Details
Year Built
1973
Listing Agency:
Avison Young - Chicago Downtown
(708) 359-9963
Listed By:
Zeke Rowan · License #IL 475167295
Source:
Crexi
Added: May 19
Changed: Aug 24
Last Checked: Aug 25 at 3:08PM
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 Avison Young - Chicago Downtown
Investment Insights
Based on property information with market context.
This industrial property, located in Bedford Park, Illinois, offers 344,450 square feet of space. The property is suitable for warehouse and other commercial real estate purposes.
Key Highlights
- Large Industrial Space: 344,450 SqFt
- Industrial Property Type
- Established Building: Built in 1973
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
$1,800,472
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
7.69%
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%
$36,009,440
$36.0M
Cap Rate 7%
$25,721,029
$25.7M
Cap Rate 9%
$20,005,244
$20.0M
Market Conditions
NOI Build-Up for 344,450 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
$2.23M $6.48/SF
− Vacancy
−$113.8K −$0.33/SF
EGI
$2.12M $6.15/SF
− OpEx
−$317.7K −$0.92/SF
NOI
$1.80M $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%
$36,009,440
Cap Rate 7%
$25,721,029
Cap Rate 9%
$20,005,244
Alternative Uses
Best Use
Warehouse
$25.72M
$22.51M – $30.01M
NOI $1,800,472 @ 7.0% cap · market cap 7.69%
Second Best
Industrial
$21.18M
$18.53M – $24.71M
NOI $1,482,742 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$118.92M
$104.06M – $138.74M
NOI $8,324,601 @ 7.0% cap · market cap 35.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
183
Businesses Nearby
Under-served
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 Midwest region
Questions? Ask Rey
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- CINTAS — 5600 W 73rd St, Chicago, IL 60638
Frequently Asked Questions
What type of property is this?
Warehouse - 344,450 sqft industrial property for sale.
Where is this warehouse located?
The property is located at 6226 W 74th Street Bedford Park, IL.
What is the asking price?
The asking price for this property is $23,400,000.
What are key features of this property?
This property features: Large Industrial Space: 344,450 SqFt; Industrial Property Type; Established Building: Built in 1973
