Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    10608 163 Pl Orland Park Orland Park, IL 60467

    Property Lookup

    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    10608 163 Pl Orland Park Orland Park, IL 60467

    View on Map
    • Industrial properties
    • 28,000 SF
    • 3.22 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Industrial properties

    Property Details for 10608 163 Pl Orland Park

    Lot size
    3.22 lot acres
    Property size
    28,000 SF
    Property type
    Industrial properties
    Property subtype
    Flex space

    Description

    This exceptional 28,000-square-foot freestanding flex building in Orland Park, Illinois, presents a unique opportunity. Situated on a 3.22-acre lot, the steel and masonry structure offers convenient access to major transportation arteries, including I-355, I-80, and 159th Street, placing it within easy reach of Chicago Midway International Airport. The property boasts two loading docks and ample parking for approximately 200 cars. Currently configured as a former test kitchen, the building features two commercial kitchens complete with Ansol hood systems, a development laboratory, training rooms, and food panel test rooms. This adaptable space is zoned for manufacturing and light industrial uses and offers the potential for multi-tenant occupancy with separate entrances and an elevator. The building's versatile layout and prime location make it an attractive option for a variety of businesses seeking a functional and strategically located facility in the thriving Orland Park market. The property's existing infrastructure, including the well-equipped kitchens and lab space, presents significant cost savings for potential tenants. This is a rare opportunity to acquire a high-quality flex space in a desirable location with excellent access to transportation and amenities. The building's size and layout offer flexibility for a range of uses, making it an ideal investment for businesses seeking expansion or relocation.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Orland Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.8773
    Latitude
    41.5933

    Comparable in this City

    • Value Estimation by Request
      1.01 Acres

      10719 163rd Pl

      CONDOMINIUMS (INDUSTRIAL) • 1.01 Acres
      10719 163rd Pl, Orland Park, IL 60467-8861
      View Details
    • Value Estimation
      $2,070,000
      1.77 Acres

      18404 116th Ave Ste H

      INDUSTRIAL (GENERAL) • 1.77 Acres
      18404 116th Ave Ste H, Orland Park, IL 60467-7814
      View Details
    • Value Estimation
      $1,245,000
      2.14 Acres

      10410 163rd Plb

      CONDOMINIUMS (INDUSTRIAL) • 2.14 Acres
      10410 163rd Plb, Orland Park, IL 60467-5445
      View Details
    • Value Estimation by Request
      4,848 SF

      11415 183rd Pl Ste C

      INDUSTRIAL (GENERAL) • 4,848 SF
      11415 183rd Pl Ste C, Orland Park, IL 60467-5011
      View Details
    • Value Estimation
      $1,060,000
      2.14 Acres

      10444 163rd Pld

      CONDOMINIUMS (INDUSTRIAL) • 2.14 Acres
      10444 163rd Pld, Orland Park, IL 60467-5445
      View Details
    • Value Estimation
      $1,205,000
      16,086 SF

      11560 184th Pl Ste B

      INDUSTRIAL (GENERAL) • 16,086 SF
      11560 184th Pl Ste B, Orland Park, IL 60467-4927
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      28,000 SF

      Orland Park Flex Building For Sale

      Freestanding flex building with commercial kitchens and development laboratory.
      10608 163 Pl Orland Park, Orland Park, IL 60467
      View Details
    • Contact for pricing
      18,768 SF

      Industrial Property with Training Room

      Industrial property featuring a training room and convenient highway access.
      11351 W 183Rd St, Orland Park, IL 60467
      View Details
    • Contact for pricing

      Orland Park Office Condo Suites

      Versatile office condo in Orland Park Business Center.
      11520 183Rd Pl, Orland Park, IL 60467
      View Details
    • Contact for pricing

      Adaptable Commercial Building Near I-80

      5,333 SF building on 1.59 acres near I-80.
      11155 180Th St, Orland Park, IL 60467
      View Details
    • Contact for pricing
      2,300 SF

      Move-in Ready Office Space

      Office space with easy highway access and private entrances.
      10703-10709 W 159Th St, Orland Park, IL 60467
      View Details
    • Contact for pricing

      Land For Sale Orland Park

      Land available for sale in Orland Park, Illinois.
      17800 Wolf Rd, Orland Park, IL 60467
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Flex Building with Commercial Kitchens

      Two-story flex building featuring commercial kitchens for sale or lease.
      10608 163Rd Pl, Orland Park, IL 60467
      View Details
    • Contact for pricing

      Orland Park Flex Building For Rent

      Flex building with commercial kitchens, lab space, and multi-tenant potential.
      10608 West 163Rd Pl, Orland Park, IL 60467
      View Details
    • Contact for pricing

      Orland Park Flex Building For Rent

      Flex building with commercial kitchens, lab, and R&D space.
      10608 West 163Rd Pl, Orland Park, IL 60467
      View Details
    • $12 SF/Yr

      Orland Park Industrial Space Available

      22,200 sqft industrial space for lease in Orland Park.
      11601 183Rd Pl, Orland Park, IL 60467
      View Details
    • $12 SF/Yr
      22,200 SF

      Orland Park Warehouse Space Available

      Industrial warehouse space for lease, convenient location, low taxes.
      18390 116Th Ave, Orland Park, IL 60467
      View Details
    • Contact for pricing
      3,900 SF

      Retail Center at Busy Intersection

      Retail center with long-term tenants and value-add opportunity.
      14259-14279 S Wolf Rd, Orland Park, IL 60467
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    10608 163 Pl Orland Park
    Orland Park, IL 60467
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    10608 163 Pl Orland Park, Orland Park, IL, 60467

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!