Manufacturing Facility With
For Sale
$1,950,000
6655 Kitty Avenue, Chicago Ridge, IL 60415
Industrial manufacturing facility with overhead lifting equipment, fenced outdoor storage, dedicated office space, and substantial electrical service.
Property Size22,200 SF
Days on Market178
Property Features for 6655 Kitty Avenue
General Information
Standard status
Active
Size
22,200 SF
Property subtype
Commercial
Zoning
MANUF
Taxes and HOA fees
Annual Taxes
$58,678
Building Details
Building Size
22,200 SF
Year Built
1940
Stories
1
Listing Agency:
eXp Realty
(888) 574-9405
Listed By:
Tyler Burlison · License #475178975
(888) 574-9405
Source:
Birdrealtysells
Added: Feb 14
Changed: Aug 11
Last Checked: Aug 11 at 8:08AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This manufacturing facility provides approximately 22,200 square feet under roof on a 2.5-acre site. The main production area measures approximately 40' x 350' and includes two 5-ton overhead cranes with handheld floor pendant controls, two 2-ton wall-mounted jib cranes, and approximately 16' clear height under hook. A 55' x 70' truck garage adds further workspace, while the fenced yard includes designated outdoor storage areas.
The building has a metal roof with an estimated remaining lifespan of 50 to 60+ years. Industrial operations are supported by 600-amp, 240-volt, 3-phase electrical service. Office improvements total approximately 3,200 square feet, divided evenly between the first and second floors, with full heating and air conditioning. Employee facilities include a locker room and washroom, with a repair shop on the second floor above.
The site includes 22 paved parking spaces in a separate office lot and is approximately one mile from Interstate 294, with access to northbound and southbound entrances and exits. The property is zoned MANUF and was built in 1940.
The building has a metal roof with an estimated remaining lifespan of 50 to 60+ years. Industrial operations are supported by 600-amp, 240-volt, 3-phase electrical service. Office improvements total approximately 3,200 square feet, divided evenly between the first and second floors, with full heating and air conditioning. Employee facilities include a locker room and washroom, with a repair shop on the second floor above.
The site includes 22 paved parking spaces in a separate office lot and is approximately one mile from Interstate 294, with access to northbound and southbound entrances and exits. The property is zoned MANUF and was built in 1940.
Key Highlights
- Approximately 22,200 square feet under roof on 2.5 acres
- Production area measures approximately 40' x 350' with approximately 16' clear height under hook
- Two 5‑ton overhead cranes and two 2‑ton wall‑mounted jib cranes
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
$95,564
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
4.90%
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%
$1,911,280
$1.9M
Cap Rate 7%
$1,365,200
$1.4M
Cap Rate 9%
$1,061,822
$1.1M
Market Conditions
NOI Build-Up for 22,200 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
$143.9K $6.48/SF
− Vacancy
−$7.3K −$0.33/SF
EGI
$136.5K $6.15/SF
− OpEx
−$41.0K −$1.84/SF
NOI
$95.6K $4.30/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /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%
$1,911,280
Cap Rate 7%
$1,365,200
Cap Rate 9%
$1,061,822
Alternative Uses
Best Use
Office B
$4.37M
$3.83M – $5.10M
NOI $306,102 @ 7.0% cap · market cap 15.70%
Second Best
Flex RnD
$3.34M
$2.92M – $3.90M
NOI $233,766 @ 7.0% cap · market cap 11.99%
Theoretical Best
Office A
$7.66M
$6.71M – $8.94M
NOI $536,525 @ 7.0% cap · market cap 27.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,168
Businesses Nearby
Explore this area
Business Placement
Demographics for 60415, IL
14,433
Population
5,840
Households
2.5
Avg Household Size
37
Median Age
28%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
6,275
Density / Sq Mi
$69,389
Median Household Income
$48,226
Median Earnings
$1,198
Median Rent
$217,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Industrial manufacturing facility with overhead lifting equipment, fenced outdoor storage, dedicated office space, and substantial electrical service.
Where is this manufacturing property located?
The property is located at 6655 Kitty Avenue Chicago Ridge, IL.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Approximately 22,200 square feet under roof on 2.5 acres; Production area measures approximately 40' x 350' with approximately 16' clear height under hook; Two 5‑ton overhead cranes and two 2‑ton wall‑mounted jib cranes
