Oak Forest Commercial
15530 Cicero Avenue Oak Forest, IL 60452
For Sale
$400,000
COMMERCIAL - Oak Forest, IL
Property Size2,000 SF
Lot Size0.32 Acres
Price / SF$200
Days on Market296
Property Features for 15530 Cicero Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Standard status
Active
APN
28164030210000
Size
2,000 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
16795
Utilities
Cooling system
Central Air
Building Details
Floors in Building
1
Building materials
Concrete
Listing Agency:
RE/MAX 10
(708) 857-1500
Listed By:
Valentina Hatzelis · License #471004666
(708) 857-1500
Added: Oct 6, 2025
Changed: May 13
Last Checked: Jul 28 at 12:06AM
MLS# 12490617
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 commercial property in Oak Forest, IL, presents a great opportunity to open your own business or purchase with income potential. The property features over 2000 square feet of storefront space with additional space in the rear. A 2-car garage provides additional workspace or storage. Situated on an oversized lot on Cicero Avenue, the property extends 283 feet deep, offering potential for additional parking or private events. The lot size is approximately 0.3248 acres. The storefront is currently leased.
Key Highlights
- Over 2000 sq ft of store front space.
- Oversized 283 ft deep lot on Cicero Ave.
- Income‑generating potential (currently leased).
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.2k | $21.60 |
| − Vacancy | −$3.5k | −$1.77 |
| EGI | $39.7k | $19.83 |
| − OpEx | −$11.9k | −$5.95 |
| NOI | $27.8k | $13.88 |
2,000 SF · lease $21.60/SF/yr · vacancy 8.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$396.6K
$347.0K – $462.7K
NOI $27,760 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$690.5K
$604.2K – $805.6K
NOI $48,336 @ 7.0% cap · market cap 12.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Catherine's Gardens — 15146 S Cicero Ave, Oak Forest, IL 60452
Frequently Asked Questions
What type of property is this?
Storefront property - Storefront property with additional space and oversized lot for sale.
Where is this storefront property located?
The property is located at 15530 Cicero Avenue Oak Forest, IL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Over 2000 sq ft of store front space.; Oversized 283 ft deep lot on Cicero Ave.; Income‑generating potential (currently leased).
