Manufacturing Facility with Freight
For Sale
Contact for pricing
7500 Saint Louis Ave, Skokie, IL 60076
Large industrial facility with office space, multi-level operations, loading access, and distributed electrical service.
Property Size65,899 SF
Price / SF$53.04
Days on Market230
Property Features for 7500 Saint Louis Ave
General Information
Standard status
Active
Size
65,899 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
17 ft
Office Build-Out
5,000 SF
Dock-High Doors
3
Drive-In Doors
2
Building Details
Stories
2
Listing Agency:
Colliers | Chicago Rosemont
(847) 331-2157
Listed By:
Brendan Green
(847) 331-2157
Source:
Moodyscre
Added: Jan 14
Changed: Aug 30
Last Checked: Sep 1 at 6:58PM
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 Colliers | Chicago Rosemont
Investment Insights
Based on property information with market context.
The manufacturing facility at 7500 Saint Louis Ave contains 65,899 square feet, including 5,000 square feet of office space. The building offers 54,567 square feet on the first floor and 11,332 square feet on the second floor, with clear heights ranging from 12 feet to 17 feet. A freight elevator, three exterior docks, and two DIDs support movement of materials and goods. Electrical service is distributed throughout the facility, and the roof is newer and in good condition.
The property is located in Skokie, Illinois, approximately 2.8 miles from the I-94/Touhy Interchange. The facility is identified for manufacturing, assembly, or warehouse use and is available immediately. Potential 6B real estate tax incentive eligibility is also noted.
The property is located in Skokie, Illinois, approximately 2.8 miles from the I-94/Touhy Interchange. The facility is identified for manufacturing, assembly, or warehouse use and is available immediately. Potential 6B real estate tax incentive eligibility is also noted.
Key Highlights
- 65,899 SF manufacturing facility with 5,000 SF of office space
- 54,567 SF first floor and 11,332 SF second floor
- 12'-17' clear heights throughout the facility
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
$283,673
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
8.12%
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%
$5,673,460
$5.7M
Cap Rate 7%
$4,052,471
$4.1M
Cap Rate 9%
$3,151,922
$3.2M
Market Conditions
NOI Build-Up for 65,899 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
$427.0K $6.48/SF
− Vacancy
−$21.8K −$0.33/SF
EGI
$405.2K $6.15/SF
− OpEx
−$121.6K −$1.84/SF
NOI
$283.7K $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%
$5,673,460
Cap Rate 7%
$4,052,471
Cap Rate 9%
$3,151,922
Alternative Uses
Best Use
Flex RnD
$9.91M
$8.67M – $11.57M
NOI $693,916 @ 7.0% cap · market cap 19.85%
Second Best
Warehouse
$4.92M
$4.31M – $5.74M
NOI $344,460 @ 7.0% cap · market cap 9.86%
Theoretical Best
Office A
$22.75M
$19.91M – $26.54M
NOI $1,592,634 @ 7.0% cap · market cap 45.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
17 ft
Clear height
3
Dock-high doors
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,203
Businesses Nearby
Explore this area
Business Placement
Demographics for 60076, IL
34,295
Population
11,908
Households
2.9
Avg Household Size
42
Median Age
52%
College-Educated
91%
High-School Grad
5.1 sq mi
ZIP Area
6,725
Density / Sq Mi
$103,870
Median Household Income
$50,336
Median Earnings
$1,576
Median Rent
$381,000
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Large industrial facility with office space, multi-level operations, loading access, and distributed electrical service.
Where is this manufacturing property located?
The property is located at 7500 Saint Louis Ave Skokie, IL.
What is the asking price?
The asking price for this property is $3,494,996.
What are key features of this property?
This property features: 65,899 SF manufacturing facility with 5,000 SF of office space; 54,567 SF first floor and 11,332 SF second floor; 12'-17' clear heights throughout the facility
