Climate-Controlled Warehouse with
For Sale
Contact for pricing
8130 River Dr, Morton Grove, IL 60053
Climate-controlled warehouse with 21' clear height, interior dock, and 5,100 SF office, plus 27-car parking.
Property Size31,429 SF
Price / SF$95.45
Days on Market243
Property Features for 8130 River Dr
General Information
Standard status
Active
Size
31,429 SF
Total Parking Spaces
27
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
21 ft
Drive-In Doors
2
Additional Details
Highway Access
Yes
Amenities
climate-controlled warehouse
Listing Agency:
Colliers | Chicago Rosemont
(847) 698-8444
Listed By:
Thomas Rodeno
(773) 230-2596
Source:
Moodyscre
Added: Jan 14
Changed: Sep 3
Last Checked: Sep 13 at 9:26AM
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.
This climate-controlled warehouse offering includes approximately 31,429 SF total, with 5,100 SF of office space. The warehouse features 21' clear height and an interior dock, supported by two drive-in doors (DIDs). The property also includes 27 car parking spaces.
Located within North Grove Business Park, the site is minutes from I-94 and Touhy Avenue, with easy access to major highways. It is about 0.4 miles from Morton Grove Metra Station and approximately 18 minutes to O’Hare International Airport.
The combination of warehouse height, interior docking, drive-in doors, and on-site office area creates a flexible setup for warehouse-focused operations requiring administrative space.
Located within North Grove Business Park, the site is minutes from I-94 and Touhy Avenue, with easy access to major highways. It is about 0.4 miles from Morton Grove Metra Station and approximately 18 minutes to O’Hare International Airport.
The combination of warehouse height, interior docking, drive-in doors, and on-site office area creates a flexible setup for warehouse-focused operations requiring administrative space.
Key Highlights
- 31,429 SF warehouse/industrial space including 5,100 SF office
- 21' clear height warehouse with climate‑controlled environment
- 1 interior dock and 2 DIDs
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
$164,282
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
5.48%
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%
$3,285,640
$3.3M
Cap Rate 7%
$2,346,886
$2.3M
Cap Rate 9%
$1,825,356
$1.8M
Market Conditions
NOI Build-Up for 31,429 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
$203.7K $6.48/SF
− Vacancy
−$10.4K −$0.33/SF
EGI
$193.3K $6.15/SF
− OpEx
−$29.0K −$0.92/SF
NOI
$164.3K $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%
$3,285,640
Cap Rate 7%
$2,346,886
Cap Rate 9%
$1,825,356
Alternative Uses
Best Use
Warehouse
$2.35M
$2.05M – $2.74M
NOI $164,282 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.85M
$9.49M – $12.66M
NOI $759,570 @ 7.0% cap · market cap 25.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
21 ft
Clear height
2
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
625
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60053, IL
25,297
Population
9,546
Households
2.7
Avg Household Size
45
Median Age
52%
College-Educated
90%
High-School Grad
5.1 sq mi
ZIP Area
4,960
Density / Sq Mi
$106,078
Median Household Income
$61,315
Median Earnings
$2,210
Median Rent
$377,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Public Storage — 5830 W Howard St, Skokie, IL 60077
- Aerclaw Group — 6125 W Mulford St, Niles, IL 60714
- Life Storage — 6505 Oakton St, Morton Grove, IL 60053
- Chicago Professional Movers — 6114 madison ct, morton grove, il 60053
- Public Storage — 8625 Waukegan Rd, Morton Grove, IL 60053
Frequently Asked Questions
What type of property is this?
Warehouse - Climate-controlled warehouse with 21' clear height, interior dock, and 5,100 SF office, plus 27-car parking.
Where is this warehouse located?
The property is located at 8130 River Dr Morton Grove, IL.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 31,429 SF warehouse/industrial space including 5,100 SF office; 21' clear height warehouse with climate‑controlled environment; 1 interior dock and 2 DIDs
