Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    1318 W Cermak Rd Chicago, IL 60608

    Property Lookup

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

    1318 W Cermak Rd Chicago, IL 60608

    View on Map
    • Industrial properties
    • 30,200 SF
    • 0.46 lot acres
    For Lease
    $2,565,000
    View Listing →
    Industrial Space Available For Rent For Lease
    $2,565,000
    19,500 SF

    Industrial Space Available For Rent

    Industrial spaces available, ranging from 14,500 to 19,500 square feet.

    1318 W Cermak Rd, Chicago, IL 60608
    View Listing
    Property ID
    US28-1721943
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Wooden Image / Industrial Manufacturer / Production Facility
    • Tatry Cabinetry Inc / General Contractor / Renovation Specialist

    Property Details for 1318 W Cermak Rd

    Year built
    1947
    Lot size
    0.46 lot acres
    Property size
    30,200 SF
    Property type
    Industrial properties
    APN
    17-20-333-009
    APU
    1720333009

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,155,000
      6.5%
      $2,915,000
      7%
      $2,705,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,677,000
      Market price range: $343k - $1.68M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $2,400,000
      Current use
      OFFICE BUILDING
      $4,065,000
      Change: +70% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,620,000
      Change: +51% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6598
    Latitude
    41.8527
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $88,486
    $49,640
    $380,566
    $430,206
    -
    $198,560
    $1,522,264
    $1,720,824

    Comparable in this City

    • Value Estimation by Request
      22.26 Acres

      2404 Wolcott Ave Ste, Unit 13

      CONDOMINIUMS (INDUSTRIAL) • 22.26 Acres
      2404 Wolcott Ave Ste, Chicago, IL 60608-5341
      View Details
    • Value Estimation by Request
      22.26 Acres

      2404 Wolcott Ave Ste, Unit 17

      CONDOMINIUMS (INDUSTRIAL) • 22.26 Acres
      2404 Wolcott Ave Ste, Chicago, IL 60608-5341
      View Details
    • Value Estimation by Request
      0.09 Acres

      2451 Laflin St

      INDUSTRIAL (GENERAL) • 0.09 Acres
      2451 Laflin St, Chicago, IL 60608
      View Details
    • Value Estimation by Request
      22.26 Acres

      2404 Wolcott Ave Ste, Unit 29

      CONDOMINIUMS (INDUSTRIAL) • 22.26 Acres
      2404 Wolcott Ave Ste, Chicago, IL 60608-5344
      View Details
    • Value Estimation by Request
      22.26 Acres

      2404 Wolcott Ave Ste, Unit 35

      CONDOMINIUMS (INDUSTRIAL) • 22.26 Acres
      2404 Wolcott Ave Ste, Chicago, IL 60608-5344
      View Details
    • Value Estimation by Request
      22.26 Acres

      2404 Wolcott Ave Ste, Unit 9

      CONDOMINIUMS (INDUSTRIAL) • 22.26 Acres
      2404 Wolcott Ave Ste, Chicago, IL 60608-5342
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      14,748 SF

      Chicago Warehouse/Flex/Office Building For Sale

      Two-story warehouse/flex/office building with loading docks and parking.
      1674 N Ada St, Chicago, IL 60608
      View Details
    • Contact for pricing

      Pilsen Flex Space For Sale

      13,071 SF flex space in Chicago's Pilsen neighborhood.
      1643 West Cermak Rd, Chicago, IL 60608
      View Details
    • $650,000
      0.07 Acres

      Pilsen Mixed-Use Investment Opportunity

      Mixed-use building in Pilsen's historic district with high visibility.
      1721 W 18Th St, Chicago, IL 60608
      View Details
    • Contact for pricing
      24,000 SF

      Renovated Light-Industrial Building For Sale

      24,000 SF warehouse near I-55 and I-90/94 in Chicago.
      2415 W 24Th Pl, Chicago, IL 60608
      View Details
    • $159,000

      Chicago Land Across From Douglass Park

      Vacant lot across from Douglass Park, ideal for development.
      1235 S California Ave, Chicago, IL 60608
      View Details
    • Contact for pricing
      0.82 Acres

      Chicago Land Lease Opportunity

      Prime city site for storage, truck parking, and various uses.
      2432-2458 W Roosevelt Rd, Chicago, IL 60608
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9 SF

      Pilsen Land for Lease

      9.64 acres in Pilsen for parking, storage, or build-to-suit.
      977 West Cermak Rd, Chicago, IL 60608
      View Details
    • Contact for pricing

      500,000 SF Multi-Tenant Industrial Building

      Multi-tenant industrial building near Chicago's Loop with secure access.
      1500 S Western Ave, Chicago, IL 60608
      View Details
    • Contact for pricing

      Chicago Warehouse Near Produce Market

      Warehouse space adjacent to Chicago International Produce Market.
      2420 S Wood St, Chicago, IL 60608
      View Details
    • Contact for pricing
      16,915 SF

      Chicago Flex / Light Industrial Space

      Flex / Light Industrial / Showroom space for rent in Chicago.
      2233 S Throop St, Chicago, IL 60608
      View Details
    • Contact for pricing
      33,500 SF

      Renovated Warehouse Space Available

      Divisible warehouse space with ample parking and convenient highway access.
      3333 South Iron St, Chicago, IL 60608
      View Details
    • Contact for pricing

      Industrial Space Available For Rent

      Industrial spaces available, ranging from 14,500 to 19,500 square feet.
      1318 W Cermak Rd, Chicago, IL 60608
      View Details
    View Listing
    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.
    1318 W Cermak Rd
    Chicago, IL 60608
    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

    1318 W Cermak Rd, Chicago, IL, 60608

    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!