1325 31st Ave Melrose Park, IL 60160-2925
- Warehouses
- 1.16 lot acres
Current Use by Public Records
- LB TRANSPORT INC. / Transportation Service
- Bellrose Partners LLC / Parking Garage
- VIP Charter Inc. / Bus Charter
- G and G Autobody and Detail / Auto Body Shop / Auto Restoration Service
- J & M Truck Wash / Snow Removal Service / Pressure Washing Service
Property Details for 1325 31st Ave
- Year built
- 1984
- Lot size
- 1.16 lot acres
- Property type
- Warehouses
- APN
- 15-04-404-055
- APU
- 1504404055
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,595,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,545,000
- 6.5%
- $1,480,000
- 7%
- $1,410,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,315,000
- Geo Method
- $1,650,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,565,000
- Retail
- $1,305,000
- Mixed-Use
- $1,630,000
- Hospitality
- $1,295,000
- Educational
- $1,550,000
- Residential Income
- $1,540,000
- Energy
- $1,395,000
- Income-Based Land
- $1,215,000
- Food Service
- $1,525,000
Location Insight
- Map
- Local Demand
- City
- Melrose Park
- County
- Cook
- State
- Illinois
- Longitude
- -87.8704
- Latitude
- 41.8989
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
