Chicago Warehouse Near
For Sale
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6467 N Avondale Ave, Chicago, IL
33,000 SF warehouse, 8 miles from O'Hare Airport.
Property Size33,000 SF
Lot Size0.54 Acres
Price / SF$75.61
Days on Market347
Property Features for 6467 N Avondale Ave
General Information
Standard status
Active
Size
33,000 SF
Lot size
0.54 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Strauss Realty, Ltd.
(847) 826-4467
Listed By:
Adam Schneiderman · License #475149601
(847) 826-4467
Source:
Moodyscre
Added: Sep 8, 2025
Changed: Aug 9
Last Checked: Aug 19 at 12:55PM
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 Strauss Realty, Ltd.
Investment Insights
Based on property information with market context.
This 33,000 square foot warehouse is equipped with a wet sprinkler system. It is located in Ward 41, represented by Alderman Anthony V. Napolitano. The property is situated approximately 8 miles from O'Hare International Airport and half a mile from the Edison Park Metra station.
Key Highlights
- Half a mile to Edison Park Metra
- 8 miles to O’Hare
- Wet Sprinkler system installed
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
$206,941
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
8.29%
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%
$4,138,820
$4.1M
Cap Rate 7%
$2,956,300
$3.0M
Cap Rate 9%
$2,299,344
$2.3M
Market Conditions
NOI Build-Up for 33,000 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
$311.2K $9.43/SF
− Vacancy
−$15.6K −$0.47/SF
EGI
$295.6K $8.96/SF
− OpEx
−$88.7K −$2.69/SF
NOI
$206.9K $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%
$4,138,820
Cap Rate 7%
$2,956,300
Cap Rate 9%
$2,299,344
Alternative Uses
Best Use
Warehouse
$3.57M
$3.12M – $4.17M
NOI $249,963 @ 7.0% cap · market cap 10.02%
Second Best
Industrial
$2.96M
$2.59M – $3.45M
NOI $206,941 @ 7.0% cap · market cap 8.29%
Theoretical Best
Office A
$15.56M
$13.61M – $18.15M
NOI $1,089,158 @ 7.0% cap · market cap 43.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,244
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 - 33,000 SF warehouse, 8 miles from O'Hare Airport.
Where is this warehouse located?
The property is located at 6467 N Avondale Ave Chicago, IL.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: Half a mile to Edison Park Metra; 8 miles to O’Hare; Wet Sprinkler system installed
