Industrial Manufacturing
For Sale
$1,595,000
9030 Gage Avenue, Franklin Park, IL 60131
1967-built industrial/manufacturing facility with a functional layout and I-1 light industrial zoning.
Property Size19,318 SF
Price / SF$82.57
Days on Market61
Property Features for 9030 Gage Avenue
General Information
Standard status
Active
Size
19,318 SF
Property subtype
Industrial
Zoning
I-1
Additional Details
Traffic Count
31,000 vehicles/day
Building Details
Building Size
19,318 SF
Year Built
1967
Listing Agency:
DarwinPW Realty/CORFAC International
Listed By:
Dan Prendergast
(708) 362-0162
Source:
Corfac
Added: Jul 9
Changed: Aug 14
Last Checked: Sep 6 at 5:22AM
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 DarwinPW Realty/CORFAC International
Investment Insights
Based on property information with market context.
This 19,318 SF industrial/manufacturing facility was built in 1967 and is offered for sale with an existing functional building layout designed to support a range of industrial uses. The property is configured for practical operations within its versatile interior space.
Located at 9030 Gage Avenue in Franklin Park, the facility offers proximity to major transportation access and area amenities. River Road is nearby, with 31,000 vehicles per day reported, and the building is also positioned for access to O’Hare.
Zoned I-1 Light Industrial, the property is intended to accommodate light industrial activity within the applicable zoning framework.
Located at 9030 Gage Avenue in Franklin Park, the facility offers proximity to major transportation access and area amenities. River Road is nearby, with 31,000 vehicles per day reported, and the building is also positioned for access to O’Hare.
Zoned I-1 Light Industrial, the property is intended to accommodate light industrial activity within the applicable zoning framework.
Key Highlights
- 19,318 SF industrial/manufacturing facility built in 1967
- I‑1 light industrial zoning
- Functional building layout for industrial/manufacturing use
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
$83,157
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
5.21%
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%
$1,663,140
$1.7M
Cap Rate 7%
$1,187,957
$1.2M
Cap Rate 9%
$923,967
$924.0K
Market Conditions
NOI Build-Up for 19,318 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
$125.2K $6.48/SF
− Vacancy
−$6.4K −$0.33/SF
EGI
$118.8K $6.15/SF
− OpEx
−$35.6K −$1.84/SF
NOI
$83.2K $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%
$1,663,140
Cap Rate 7%
$1,187,957
Cap Rate 9%
$923,967
Alternative Uses
Best Use
Industrial
$1.19M
$1.04M – $1.39M
NOI $83,157 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.67M
$5.84M – $7.78M
NOI $466,874 @ 7.0% cap · market cap 29.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
31,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
Explore this area
Business Placement
Demographics for 60131, IL
18,205
Population
6,120
Households
3
Avg Household Size
39
Median Age
19%
College-Educated
77%
High-School Grad
5.4 sq mi
ZIP Area
3,371
Density / Sq Mi
$76,404
Median Household Income
$39,117
Median Earnings
$1,092
Median Rent
$261,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Manufacturing property - 1967-built industrial/manufacturing facility with a functional layout and I-1 light industrial zoning.
Where is this manufacturing property located?
The property is located at 9030 Gage Avenue Franklin Park, IL.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: 19,318 SF industrial/manufacturing facility built in 1967; I‑1 light industrial zoning; Functional building layout for industrial/manufacturing use
