Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    7979 W 183Rd St Tinley Park, IL 60477
    Back to Search
    Property profile & analytics

    7979 W 183Rd St Tinley Park, IL 60477

    View on Map
    • Industrial properties
    • 238,068 SF
    • 13.96 lot acres
    For Lease
    View Listing →
    Manufacturing Warehouse with Heavy Loading For Lease
    Contact for pricing
    131,208 SF

    Manufacturing Warehouse with Heavy Loading

    Manufacturing space for lease with heavy loading and trailer parking.

    7979 W 183rd St, Tinley Park, IL
    View Listing
    Property ID
    US28-0609371
    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

    • Ferguson Facilities Supply / Big Box & Wholesale Store
    • PCS Industries / Big Box & Wholesale Store / Building Supply

    Property Details for 7979 W 183Rd St

    Year built
    2002
    Construction
    STEEL FRAME
    Lot size
    13.96 lot acres
    Property size
    238,068 SF
    Property type
    Industrial properties
    APN
    19-09-01-101-007
    APU
    190901101007

    Description

    This exceptional industrial warehouse, located at 7979 183rd Street in Tinley Park, Illinois, offers an unparalleled opportunity for investors. Boasting a substantial 237,241 square feet of space, this property features a remarkable 30-foot ceiling height, providing ample room for various industrial operations. The property includes 301 parking spaces, ensuring convenient access for employees and visitors. A significant advantage is the recently installed new roof, complete with a 20-year warranty, minimizing future maintenance concerns. Further enhancing its appeal are the convenient on-site charging stations, a shipping office equipped with warehouse restrooms, and ample trailer parking. The property's strategic location offers easy access to I-80 via the full interchange at Harlem Avenue, making transportation and logistics exceptionally efficient. This prime location also benefits from low Will County taxes, contributing to a strong return on investment. Ideal for a corporate headquarters, this warehouse presents a rare combination of size, features, and location, making it a highly desirable asset in the competitive industrial real estate market. The property's 0.81% cap rate presents a compelling investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Tinley Park
    County
    Will
    State
    Illinois
    Longitude
    -87.8101
    Latitude
    41.5574
    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
    2023
    $310,124
    $572,837
    $2,497,121
    $3,069,958
    -
    $1,718,511
    $7,491,363
    $9,209,874

    Comparable in this City

    • Value Estimation by Request
      1.18 Acres

      7420 Duvan Dr

      INDUSTRIAL (GENERAL) • 1.18 Acres
      7420 Duvan Dr, Tinley Park, IL 60477-3715
      View Details
    • Value Estimation by Request

      7233 Duvan Dr

      INDUSTRIAL (GENERAL)
      7233 Duvan Dr, Tinley Park, IL 60477-3710
      View Details
    • Value Estimation by Request

      17301 Ridgeland Ave

      INDUSTRIAL (GENERAL)
      17301 Ridgeland Ave, Tinley Park, IL 60477-3093
      View Details
    • Value Estimation by Request
      80,039 SF

      7950 185th St

      INDUSTRIAL (GENERAL) • 80,039 SF
      7950 185th St, Tinley Park, IL 60477-6775
      View Details
    • Value Estimation by Request
      0.42 Acres

      17200 Oak Park Avec-105

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 0.42 Acres
      17200 Oak Park Avec-105, Tinley Park, IL 60477-3490
      View Details
    • Value Estimation
      $1,265,000
      11,880 SF

      18500 Spg Crk Dr

      INDUSTRIAL (GENERAL) • 11,880 SF
      18500 Spg Crk Dr, Tinley Park, IL 60477-6237
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Industrial Property in Tinley Park

      Industrial property available for sale in Tinley Park, Illinois.
      Tinley, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      37,767 SF

      Industrial Space Near Interstates

      Industrial property with fenced yard, near Interstates 80 and 57.
      17201 Ridgeland Ave, Orland Hills, IL 60477
      View Details
    • $45,000
      1,600 SF

      Tinley Park Office Center Opportunity

      Lower-level office space suitable for professional or flex use.
      7060 Centennial Dr, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      5,004 SF

      Tinley Park Commercial Building For Sale

      5,004 SF building near Metra station on 1.21 acres.
      17865 S 80Th Ave, Tinley Park, IL 60477
      View Details
    • $6,349,451
      38,079 SF

      Single-Story Office Building For Sale

      Single-story office building in Tinley Park, Illinois, 100% leased.
      18501 Maple Creek Dr, Tinley Park, IL 60477
      View Details
    • $149,000

      Residential Lot in Tinley Park

      Improved residential lot ready for construction in Tinley Park.
      7942 172Nd St, Tinley Park, IL 60477
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      131,208 SF

      Manufacturing Warehouse with Heavy Loading

      Manufacturing space for lease with heavy loading and trailer parking.
      7979 W 183Rd St, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      7,200 SF

      Industrial Building Near I-80

      24,800 SF industrial building with easy access to I-80.
      18400 76Th Ave, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      93,103 SF

      Class A Distribution Center

      93,013 sq ft distribution center with trailer parking.
      18700 S Ridgeland Ave, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      32,452 SF

      Industrial Space Near I-80

      Industrial property with convenient access to I-80 in Tinley Park.
      7950 185Th St, Tinley Park, IL 60477
      View Details
    • Contact for pricing

      Tinley Park Office Space Available

      Prime office space in downtown Tinley Park near Metra.
      16750 S Oak Park Ave, Tinley Park, IL 60477
      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.
    7979 W 183Rd St
    Tinley Park, IL 60477
    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
    7979 W 183Rd St, Tinley Park, IL, 60477
    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!