Food Building with Cooler/Freezer
For Sale
Contact for pricing
143 W 154th St, South Holland, IL 60473
44,000 SF food building with leaseback opportunity.
Property Size44,000 SF
Price / SF$93.18
Days on Market833
Property Features for 143 W 154th St
General Information
Standard status
Active
Size
44,000 SF
Property subtype
Industrial
Zoning
Light Industrial
Occupancy
100%
Lease Type
NNN
Investment Type
Sale/Leaseback
Building Details
Year Built
1972
Year Renovated
2022
Tenancy
Single
Listing Agency:
eXp Commercial, LLC.
(847) 644-2757
Listed By:
Jordan Schnoll · License #IL 471000799
Source:
Crexi
Added: May 10, 2024
Changed: Aug 14
Last Checked: Aug 19 at 5:57PM
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 eXp Commercial, LLC.
Investment Insights
Based on property information with market context.
This 44,000 square foot food building includes 21,000 square feet of cooler and freezer space. The seller is open to leasing back the property for a term of 5 to 7 years. Contact listing broker for more details on leaseback terms.
Key Highlights
- 44,000 SF food building
- Boasting 21,000 SF of cooler/freezer space
- Seller will leaseback the property
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
$229,992
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
5.61%
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%
$4,599,840
$4.6M
Cap Rate 7%
$3,285,600
$3.3M
Cap Rate 9%
$2,555,467
$2.6M
Market Conditions
NOI Build-Up for 44,000 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
$285.1K $6.48/SF
− Vacancy
−$14.5K −$0.33/SF
EGI
$270.6K $6.15/SF
− OpEx
−$40.6K −$0.92/SF
NOI
$230.0K $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%
$4,599,840
Cap Rate 7%
$3,285,600
Cap Rate 9%
$2,555,467
Alternative Uses
Best Use
Warehouse
$3.29M
$2.87M – $3.83M
NOI $229,992 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$15.19M
$13.29M – $17.72M
NOI $1,063,384 @ 7.0% cap · market cap 25.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
350
Businesses Nearby
Explore this area
Business Placement
Demographics for 60473, IL
21,661
Population
7,969
Households
2.7
Avg Household Size
43
Median Age
27%
College-Educated
92%
High-School Grad
7.8 sq mi
ZIP Area
2,777
Density / Sq Mi
$88,046
Median Household Income
$40,903
Median Earnings
$1,914
Median Rent
$200,000
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?
Refrigerated & cold storage - 44,000 SF food building with leaseback opportunity.
Where is this refrigerated & cold storage located?
The property is located at 143 W 154th St South Holland, IL.
What is the asking price?
The asking price for this property is $4,100,000.
What are key features of this property?
This property features: 44,000 SF food building; Boasting **21,000 SF of cooler/freezer space**; Seller will leaseback the property
