Property profile

1325 31st Ave Melrose Park, IL 60160

OFF-MARKET
Warehouses
Property ID
US28-2537634
1.16 ac lot Built 1984
Entity Owned 4-yr Hold ~ Est. High Equity
Saved · see the list in your Dashboard

Property summary

AI-generated overview

This exceptional 1.47-acre industrial land parcel presents a unique sublease opportunity in the highly desirable O'Hare submarket. Ideally suited for trailer storage, this expansive lot offers approximately 50 trailer positions, providing ample space for your operational needs. The property's strategic location within the O'Hare area ensures convenient access to major transportation arteries, facilitating efficient logistics and distribution. This sublease presents a cost-effective solution for businesses seeking immediate access to a well-situated industrial site without the long-term commitment of a direct lease. Furthermore, a complementary 40,338 square foot industrial space is available for sublease at a nearby location (2680 W. Lake Street, Melrose Park), offering potential for expansion or synergistic operations. This combined offering provides a compelling opportunity to secure significant industrial space in a prime location. The property is designated as industrial land and is currently available for sublease on a single-tenant basis. Serious inquiries are encouraged to explore this exceptional opportunity to establish or expand your business in this thriving industrial hub. The property's size and location make it an attractive option for companies requiring substantial outdoor storage capacity in close proximity to O'Hare International Airport. This sublease presents a flexible and efficient solution for businesses seeking immediate occupancy.

Property profile

Verified
Property type Warehouses
Use group STORAGE YARD, OPEN STORAGE
Year built 1984
Lot 1.16 ac (50,530 SF)
APN 15-04-404-055
UPID US28-2537634

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Freight Service Logistics Company
  • Parking Lot & Garage
  • Travel Agency Tour Operator
  • Auto Repair Shop
  • Car Wash

Location

1325 31st Ave Melrose Park, IL 60160-2925
Melrose Park metro Census 816500 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$1.51M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.57M

Owner & transaction history

since 2021
Last sale
$1.4M
2 recorded transactions
2021
$1.4M
2018
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1325 31st Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
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