Building Details

Floors in Building 1

Listing Agency: REMAX Legends · RE/MAX International J***@soldbylegends.com Show Phone

Listed By: Ina Tore Show Phone

Added: Apr 9 Changed: Aug 20 Last Checked: Sep 24 at 12:06PM

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MLS# 12614557

Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This storefront property at 1544 N Mannheim Road operates as a modern salon with an updated, well-maintained interior. The layout includes 10 styling stations, 3 shampoo bowls, a manicure and pedicure area, two restrooms, and a kitchen. Ceramic flooring, refreshed finishes, and central air support the current use, while the space is also identified as adaptable for barbershop, medical, professional service, wellness, boutique fitness, and other service-oriented concepts.

The property includes approximately 22 feet of street frontage and convenient nearby parking. Set on 0.0542 acres in Stone Park, the storefront provides a compact commercial footprint for an owner-user or investor seeking an established service-business configuration.

Key Highlights

• 10 styling stations and 3 shampoo bowls
• Dedicated manicure and pedicure area
• Two restrooms plus functional kitchen space

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$27,760

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

6.32%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$555,200 $555.2K

Cap Rate 7%

$396,571 $396.6K

Cap Rate 9%

$308,444 $308.4K

Market Conditions

NOI Build-Up for 2,000 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$43.2K $21.60/SF

− Vacancy

−$3.5K −$1.77/SF

EGI

$39.7K $19.83/SF

− OpEx

−$11.9K −$5.95/SF

NOI

$27.8K $13.88/SF

Area

Cook County, IL

Vacancy

8.20%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$555,200

Cap Rate 7%

$396,571

Cap Rate 9%

$308,444

Alternative Uses

Best Use

Retail

$396.6K

$347.0K – $462.7K (±1% cap)

NOI $27,760 @ 7.0% cap · market cap 6.32%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$690.5K

$604.2K – $805.6K (±1% cap)

NOI $48,336 @ 7.0% cap · market cap 11.01%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Bery & Lorent Studio ... Barber Shop

Suggested Use

Top Pick Law Firm Real Estate Agency Skin Care Clinic Pharmacy (Bike/Boat/Book/etc) Store Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

685

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 60165, IL

4,576

Population

1,364

Households

3.4

Avg Household Size

33

Median Age

8%

College-Educated

58%

High-School Grad

0.3 sq mi

ZIP Area

15,253

Density / Sq Mi

$75,165

Median Household Income

$34,744

Median Earnings

$1,222

Median Rent

$218,300

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Configured for salon operations with styling, shampoo, nail-care, restroom, and kitchen areas.

Where is this storefront property located?

The property is located at 1544 N Mannheim Road Stone Park, IL.

What is the asking price?

The asking price for this property is $439,000.

What are key features of this property?

This property features: 10 styling stations and 3 shampoo bowls; Dedicated manicure and pedicure area; Two restrooms plus functional kitchen space