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    Flexible Warehouse and Office Space Title is generated by Realmo AI

    7080 N McCormick Blvd, Lincolnwood, IL 60712

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    Short and long-term warehouse and office spaces available for rent.

    Type:Office, Industrial
    Property size:
    50,000 SF
    Added:
    Sep 7, 2021
    Days on Market:
    1733
    Last Refresh:
    May 12 at 9:00 pm

    Property Features for 7080 N McCormick Blvd

    General Information

    Standard status
    Active
    Size
    50,000 SF
    Property subtype
    Office, Industrial

    Building Details

    Year Built
    1975

    Spaces For Lease

    at 7080 N McCormick Blvd Contact us

    We can help!

    Listing Contact
    Christine Wei

    Listing agent Christine Wei License #XXXXXXXX

    Listing office Cubework

    Listing date Sep 7, 2021

    Source Crexi

    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 Cubework

    HighLights

    • Flexible warehouse (300‑50,000 SF) and office (100‑3,467 SF) spaces available for short- or long‑term rent
    • Comprehensive amenities included at no extra cost: janitorial services, CCTV security, complimentary beverages, and more
    • 24/7 building access
    • On‑site manager for smooth business operations
    • Dedicated or shared loading docks for easy shipping and receiving
    • Forklift rentals and staffing available

    Overview

    Warehouse and office spaces are available for rent, offering both short-term and long-term leasing options. The rentable warehouse area ranges from 300 to 50,000 square feet, while divisible office spaces range from 100 to 3,467 square feet. The location at 7080 N McCormick Blvd, Lincolnwood, IL 60712, provides a network of move-in ready spaces. The property features 24/7 building access, high-speed internet, customized warehouse units, package and mail handling, and complimentary beverages. An on-site manager is available, and CCTV security and cameras are in place. Dedicated or shared loading docks are available, along with forklift rentals. Ample loading docks provide easy access for shipping and receiving. Comprehensive amenities include janitorial services, CCTV security, coffee, and water. Forklift rentals and staffing are available to ensure freight is safely moved. Dedicated managers are on-site to ensure smooth business operations. Commercial parking, trailer staging, hot desk, and event space are also available. These spaces enable businesses to operate without the need for set-up costs or capital investment, allowing for business expansion.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Goldman Segal Kosher Caterers — 3411 Church Street, Evanston, IL 60203
    • Grand Personal Chef — 2739 W Touhy Ave, Chicago, IL 60645
    • QUEEN K's KITCHEN — 7210 N California Ave, Chicago, IL 60645

    Location Insight

    • Map
    • Local Demand
    City
    Lincolnwood
    County
    McLean
    State
    Illinois
    Longitude
    -87.731
    Latitude
    42.0082

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    FAQs

    What type of property is this?
    Flex space - Short and long-term warehouse and office spaces available for rent.
    Where is this flex space located?
    The property is located at 7080 N McCormick Blvd Lincolnwood, IL.
    What are key features of this property?
    This property features: Flexible warehouse (300‑50,000 SF) and office (100‑3,467 SF) spaces available for short- or long‑term rent; Comprehensive amenities included at no extra cost: janitorial services, CCTV security, complimentary beverages, and more; 24/7 building access
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Christine Wei
    Real Estate License ID: XXXXXXXX
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    7080 N McCormick Blvd, Lincolnwood, IL 60712
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