Flex Space with Warehouse
For Sale
$635,000
8107 Ridgeway Avenue N, Skokie, IL 60076
Versatile commercial facility combines office, shop, storage, and warehouse functions with upgraded building systems.
Property Size4,865 SF
Price / SF$130.52
Days on Market45
Property Features for 8107 Ridgeway Avenue N
General Information
Standard status
Active
Size
4,865 SF
Total Parking Spaces
10
Property subtype
Commercial
Zoning
INDUS
Warehouse & Industrial
Clear Height
11 ft
Office Build-Out
700 SF
Voltage
240 V
Three-Phase Power
Yes
Taxes and HOA fees
Annual Taxes
$27,597
Amenities
Rooftop HVAC
Energy efficient LED lighting
Security System
Rooftop Generator
Building Details
Building Size
4,865 SF
Year Built
1962
Stories
1
Units
1
Listing Agency:
Donahue Commercial Real Estate LLC
(773) 972-3977
Listed By:
William Donahue · License #II40016004
(773) 972-3977
Source:
Cavanaghrealty
Added: Jun 28
Changed: Aug 11
Last Checked: Aug 11 at 4:38AM
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 Donahue Commercial Real Estate LLC
Investment Insights
Based on property information with market context.
This 4,865 SF flex facility at 8107 Ridgeway Avenue N includes approximately 700 SF of office space, one office bath, two shop baths, and a partial basement storage area. The building also offers 10 to 11-foot concrete ceilings, two rear overhead doors, floor drains throughout, laundry hookups, and parking for 10 vehicles. A 240V 3 Phase electrical service supports a range of commercial and shop-related operations.
Building improvements include a newer insulated roof, updated front doors and windows, new electrical wiring throughout, rooftop HVAC, energy-efficient LED lighting, a security system, and a rooftop generator. Constructed in 1962, the property is positioned just off Oakton with convenient highway access.
Building improvements include a newer insulated roof, updated front doors and windows, new electrical wiring throughout, rooftop HVAC, energy-efficient LED lighting, a security system, and a rooftop generator. Constructed in 1962, the property is positioned just off Oakton with convenient highway access.
Key Highlights
- 4,865 SF flex facility with warehouse, office, and shop areas
- Approximately 700 SF of office space with 1 office bath and 2 shop baths
- 10 to 11' concrete ceilings and 2 rear overhead doors
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
$51,228
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
8.07%
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%
$1,024,560
$1.0M
Cap Rate 7%
$731,829
$731.8K
Cap Rate 9%
$569,200
$569.2K
Market Conditions
NOI Build-Up for 4,865 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
$87.6K $18.00/SF
− Vacancy
−$8.8K −$1.80/SF
EGI
$78.8K $16.20/SF
− OpEx
−$27.6K −$5.67/SF
NOI
$51.2K $10.53/SF
Area
Cook County, IL
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,024,560
Cap Rate 7%
$731,829
Cap Rate 9%
$569,200
Alternative Uses
Best Use
Office B
$958.3K
$838.5K – $1.12M
NOI $67,080 @ 7.0% cap · market cap 10.56%
Second Best
Flex RnD
$731.8K
$640.4K – $853.8K
NOI $51,228 @ 7.0% cap · market cap 8.07%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,576 @ 7.0% cap · market cap 18.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11 ft
Clear height
Location Intelligence
Trade Area within ½ mile
1,047
Businesses Nearby
Balanced
Demand for This Use
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial facility combines office, shop, storage, and warehouse functions with upgraded building systems.
Where is this flex space located?
The property is located at 8107 Ridgeway Avenue N Skokie, IL.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: 4,865 SF flex facility with warehouse, office, and shop areas; Approximately 700 SF of office space with 1 office bath and 2 shop baths; 10 to 11' concrete ceilings and 2 rear overhead doors
