Morton Grove Commercial Property For
For Sale
$3,999,000
8150 Lehigh Ave, Morton Grove, IL 60053
Commercial property available for sale in Morton Grove, Illinois.
Property Size37,666 SF
Price / SF$106.17
Days on Market195
Property Features for 8150 Lehigh Ave
General Information
Standard status
Active
Size
37,666 SF
Building Details
Year Built
1989
Listing Agency:
Strauss Realty Ltd
Listed By:
Adam Schneiderman · License #475149601
(773) 736-3600
Source:
Realtopiare
Added: Mar 26
Changed: Sep 10
Last Checked: Oct 5 at 8:32PM
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 commercial property in Morton Grove, Illinois, is available for sale. The property encompasses 37,666 square feet and is suitable for flex space, industrial purposes, office units, office spaces, warehouses, and other commercial real estate ventures.
Key Highlights
- No property information provided.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$162,139
Cap Rate
4.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,242,780
$3.2M
Cap Rate 7%
$2,316,271
$2.3M
Cap Rate 9%
$1,801,544
$1.8M
Market Conditions
NOI Build-Up for 37,666 SF
Gross rent
$244.1K $6.48/SF
− Vacancy
−$12.4K −$0.33/SF
EGI
$231.6K $6.15/SF
− OpEx
−$69.5K −$1.84/SF
NOI
$162.1K $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 Rate 5%
$3,242,780
Cap Rate 7%
$2,316,271
Cap Rate 9%
$1,801,544
Alternative Uses
Best Use
Flex RnD
$5.67M
$4.96M – $6.61M
NOI $396,623 @ 7.0% cap · market cap 9.92%
Second Best
Industrial
$2.32M
$2.03M – $2.70M
NOI $162,139 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$13.00M
$11.38M – $15.17M
NOI $910,305 @ 7.0% cap · market cap 22.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
670
Businesses Nearby
Under-served
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
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Similar Off Market Nearby
- Filipino Food Catering — 6019 Dempster St, Morton Grove, IL 60053
Frequently Asked Questions
What type of property is this?
Flex space - Commercial property available for sale in Morton Grove, Illinois.
Where is this flex space located?
The property is located at 8150 Lehigh Ave Morton Grove, IL.
What is the asking price?
The asking price for this property is $3,999,000.
What are key features of this property?
This property features: No property information provided.
