Freestanding Car Wash
For Sale
$540,000
7737 S KEDZIE Avenue, Chicago, IL 60652
Commercial Sale, Chicago, IL
Property Size5,000 SF
Lot Size0.14 Acres
Price / SF$109.93
Days on Market40
Property Features for 7737 S KEDZIE Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
COMMR
Directions
79th Street to Kedzie, North on Kedzie to 7737-39
Subdivision
CHI - Ashburn
Standard status
Active
APN
19253170150000
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
24208
Utilities
Utilities
Natural Gas Available
Amenities
finished office/customer area
heated work area
employee restroom with a shower
electric water heater
upgraded natural stone finishes in the customer waiting area and restroom
two new drive-in overhead doors
Building Details
Year built
1950
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Brick
Roof type
Rubber
Listing Agency:
Chicago Real Estate Resources
(773) 327-9300
Listed By:
Tuyen Nguyen · License #471006001
(773) 879-0713
Added: Aug 4
Changed: Sep 8
Last Checked: Sep 12 at 4:06AM
MLS# 12724510
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 4,912 SF freestanding brick building, constructed in 1950, includes approximately 500 SF of finished office and customer space alongside roughly 4,400 SF of open workspace. Ceiling heights range from approximately 13 feet to 18 feet. The heated facility has two drive-in overhead doors with approximately 10 feet of clearance, five rear parking spaces, an employee restroom with shower, electric water heater, concrete flooring, and a rubber roof. Natural stone finishes are installed in the customer waiting area and restroom.
The offering is for real estate only. The operating car wash and detailing business is excluded, and business equipment and trade fixtures are to be removed if the property is acquired separately. Permanent building improvements, including the finished office and customer area, overhead doors, heating, and other building fixtures, remain. Natural gas is available.
The offering is for real estate only. The operating car wash and detailing business is excluded, and business equipment and trade fixtures are to be removed if the property is acquired separately. Permanent building improvements, including the finished office and customer area, overhead doors, heating, and other building fixtures, remain. Natural gas is available.
Key Highlights
- 4,912 SF freestanding brick building constructed in 1950
- Approximately 4,400 SF of open workspace plus 500 SF of finished office and customer area
- Two drive‑in overhead doors with approximately 10 feet of clearance
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
$30,803
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
5.70%
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%
$616,060
$616.1K
Cap Rate 7%
$440,043
$440.0K
Cap Rate 9%
$342,256
$342.3K
Market Conditions
NOI Build-Up for 4,912 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
$46.3K $9.43/SF
− Vacancy
−$2.3K −$0.47/SF
EGI
$44.0K $8.96/SF
− OpEx
−$13.2K −$2.69/SF
NOI
$30.8K $6.27/SF
Area
Chicago, IL
Vacancy
5.00%
Lease Rate
$9.43 /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%
$616,060
Cap Rate 7%
$440,043
Cap Rate 9%
$342,256
Alternative Uses
Best Use
Specialty Retail
$1.31M
$1.14M – $1.52M
NOI $91,422 @ 7.0% cap · market cap 16.93%
Second Best
Retail
$970.8K
$849.5K – $1.13M
NOI $67,957 @ 7.0% cap · market cap 12.58%
Theoretical Best
Office A
$2.32M
$2.03M – $2.70M
NOI $162,120 @ 7.0% cap · market cap 30.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
391
Businesses Nearby
20k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Dining 43%
Shell
Shops & Services
9,171 visits/mo
0.1 miles
Burger King
Dining
8,568 visits/mo
0.2 miles
Valvoline Instant Oil Change
Shops & Services
1,425 visits/mo
0.4 miles
Caliber Collision
Shops & Services
682 visits/mo
0.5 miles
Demographics for 60652, IL
40,898
Population
13,709
Households
3
Avg Household Size
37
Median Age
22%
College-Educated
81%
High-School Grad
4.8 sq mi
ZIP Area
8,520
Density / Sq Mi
$78,559
Median Household Income
$36,488
Median Earnings
$1,208
Median Rent
$235,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Chicago, IL
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Frequently Asked Questions
What type of property is this?
Car wash - Heated drive-in facility with office, customer area, and open workspace.
Where is this car wash located?
The property is located at 7737 S KEDZIE Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: 4,912 SF freestanding brick building constructed in 1950; Approximately 4,400 SF of open workspace plus 500 SF of finished office and customer area; Two drive‑in overhead doors with approximately 10 feet of clearance
