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    Property profile & analytics

    8525 183Rd Pl Tinley Park, IL 60487

    • Warehouses
    • 79,571 SF
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 8525 183Rd Pl

    Year built
    2004
    Property size
    79,571 SF
    Property type
    Warehouses
    Property subtype
    Office Properties & Spaces

    Description

    This exceptional 79,571-square-foot mixed-use property in Tinley Park, Illinois, presents a unique investment opportunity. Located at 8525 W. 183rd St., this Class B building, constructed in 2004, offers a blend of executive office and warehouse space, ideal for a variety of businesses. The property boasts four loading docks, providing efficient logistics capabilities. Ample parking is available, with a ratio of 5.19 spaces per 1,000 square feet. The M1 zoning allows for diverse uses, enhancing its versatility. Benefit from convenient access to I-80 and Metra stations, ensuring seamless transportation. Low Will County taxes contribute to a strong return on investment. The property currently generates approximately $500,000 in net annual income from a stable tenant base, with two lease options available. This professionally managed property offers a compelling combination of location, functionality, and financial stability, making it an attractive investment prospect. The property's address is 8525 183rd Pl, Tinley Park, IL 60487.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Tinley Park
    County
    Will
    State
    Illinois
    Longitude
    -87.8234
    Latitude
    41.5549

    Comparable in this City

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      21,000 SF

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    • Value Estimation
      $400,000
      3.36 Acres

      9501 167th St

      STORAGE YARD, OPEN STORAGE • 3.36 Acres
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      18,875 SF

      9141-9189 151St St

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    • Value Estimation
      $545,000
      14,378 SF

      18631 81st Ave

      INDUSTRIAL (GENERAL) • 14,378 SF
      18631 81st Ave, Tinley Park, IL 60487-6279
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    • Value Estimation
      $545,000
      14,205 SF

      18633 81st Ave

      INDUSTRIAL (GENERAL) • 14,205 SF
      18633 81st Ave, Tinley Park, IL 60487-6221
      View Details
    • Value Estimation
      $700,000
      25,514 SF

      8442 183rd St Ste B

      INDUSTRIAL (GENERAL) • 25,514 SF
      8442 183rd St Ste B, Tinley Park, IL 60487-9352
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      79,571 SF

      Tinley Park Industrial Property

      79,571 SF Office/Warehouse, M1 Zoning
      8525 183Rd Pl, Tinley Park, IL 60487
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    • Contact for pricing
      77,000 SF

      Flex/Industrial/Office Space Available

      Office or flex warehouse solutions with convenient access and low taxes.
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      51,023 SF

      Tinley Park Office Building For Sale

      51,023 SF office building with easy I-80 access.
      8151 W 183Rd St, Tinley Park, IL 60487
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    • Contact for pricing
      10.90 Acres

      Orland Park Commercial Land - 10.9 Acres

      Prime Orland Park development opportunity. RMC zoning, near I-80 & Metra.
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    • $658,627

      Outlots Near Multi-Sports Dome

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      Land Outlots Near Multi-Sports Dome

      Outlots available near Interstate-80 and proposed Top Golf.
      18945 76Th Ave, Tinley Park, IL 60487
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    Similar Nearby for Lease

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      34,000 SF

      Distribution Property with Freezer Space

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      Office/flex space with ample parking near transportation and daycare.
      8200 185Th St, Tinley Park, IL 60487
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    • $20 SF/Yr
      2,092 SF

      Harlem Avenue Medical Office Space

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      Prime Orland Park retail space available.
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    • $22 SF/Yr
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      2,000 SF Office Condo

      Office condo in Will County, suitable for professional use.
      8041 W 186Th St, Tinley Park, IL 60487
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    • $16 SF/Yr
      58,081 SF

      Medical Ready Office Suite

      9,698 SF office suite suitable for medical conversion.
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    8525 183Rd Pl
    Tinley Park, IL 60487
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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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