Vacant Infill O'Hare 4817 W Lake St 22,200 SF Industrial Building Melrose Park, IL 60160 $2,440,375 CAD ($109.93 CAD/SF)

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 4817 West Lake Street in Melrose Park, Illinois. The subject property consists of approximately 22,200 square feet of warehouse space and is situated on 1.06 acres of land. The single-tenant asset features a clear height ranging from 13’ to 20’, three grade-level doors, three-phase heavy power with 480 volts, TPO roofing, and 15 parking spaces. Located adjacent to a Union Pacific intermodal station in proximity to the Chicago O’Hare International Airport, the property sits about 1.5 miles from the interchange between Interstates 294 and 290. For sale as vacant and priced well-below replacement cost at just under $79 per square foot, the property can be acquired for owner use or a lease-up investment opportunity.
The subject property is well-positioned within the massive West Cook North submarket, containing 60.0 million square feet of industrial space. In 2025, industrial supply and demand reached equilibrium as 56,000 square feet of net deliveries were matched with 51,000 square feet of net absorption. As a result, the vacancy rate held steady at 6.0 percent, 170 basis points lower than the national average (based on the top 50 metros, classes A, B, & C, and a minimum 10,000 square feet). The steadiness in availability helped rent growth stabilize as the annual rate slowed by only 10 basis points to 4.2 percent, more than twice the national average. Due to a lack of available land, there were no industrial properties under construction in West Cook North at the start of 2026, providing support to existing landlords (CoStar).
Known as the Greater Chicagoland area, Chicago-Naperville-Elgin is the third-largest metro in the nation. The metro houses 9.3 million people, including 2.7 million residents within the city of Chicago. The number of corporate headquarters in Chicago is second only to New York City and is home to 30 Fortune 500 companies. Thanks to eight commercial and passenger rail lines, the Port of Chicago, three international airports, and a vast network of freeways, Chicago is a major distribution and logistics hub. The local economy and workforce are highly diverse, supported largely by distribution, finance, manufacturing, and high-tech industries. As a multicultural city that thrives on the harmony and diversity of its neighborhoods, Chicago boasts 100 neighborhoods, 77 community areas, 50 wards, and eight major league sports teams, including two MLB teams. Chicago is a leader in reforming public schools, enhancing public safety and security initiatives, providing affordable housing in attractive and economically sound communities, ensuring accessibility for all, and fostering, social, economic, and environmental sustainability (Chicago.gov).