Property profile

8338 Austin Ave Morton Grove, IL 60053

FOR LEASE
Other industrial properties
Property ID
US28-1581282
1.86 ac lot Built 1956
Entity Owned 6-yr Hold Free & Clear
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Property summary

AI-generated overview

A combined office and warehouse facility in Morton Grove, designed to accommodate leasing arrangements and offering flexible space sizes from approximately 10,000 to 47,355 square feet. The building includes heavy on-site parking, four shared loading docks, and one drive-in door. Interior layout comprises about 13,260 square feet of office area with break rooms and conference rooms, plus up to approximately 34,095 square feet of warehouse space; a portion totaling roughly 35,000 square feet has been configured as office space for a call center. The facility is mostly HVAC-equipped, features a 14-foot clear ceiling height, and has 50-by-25 foot column spacing. Fire protection is provided by wet sprinklers. The property is situated across from Austin Park, within about one mile of the Morton Grove METRA station, and approximately one mile from the I-94 interchange via Dempster Street, and is structured under an NNN-style expense allocation framework.

Property profile

Verified
Property type Other industrial properties
Use group INDUSTRIAL (GENERAL)
Year built 1956
Lot 1.86 ac (81,022 SF)
APN 10-20-301-026
UPID US28-1581282

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
  • Distribution Center Logistics Company
  • Law Firm
  • Government Office
  • Business To Business Service Logistics Service
  • Distribution Center Logistics Company

Location

8338 Austin Ave Morton Grove, IL 60053
Morton Grove metro Census 808301 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$270k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$270k

Owner & transaction history

since 2019
6 recorded transactions
2021
Price N/A
2019
$11.0M
2018
Price N/A
2015
$4.9M
2012
Price N/A
2003
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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