Multi-Use Brick Auto Shop
For Sale
$325,000
7828 S Claremont Avenue, Chicago, IL 60620
COMMERCIAL - Chicago, IL
Property Size4,400 SF
Lot Size0.10 Acres
Price / SF$73.86
Days on Market109
Property Features for 7828 S Claremont Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
PMD
Directions
SOUTH ON WESTERN AVE TO 79TH ST EAST ON 79TH 1BLOCK TO CLAREMONT NORTH ON CLAREMONT
Subdivision
CHI - Ashburn
Standard status
Active
APN
20303120250000
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12365
Utilities
Cooling system
Window Unit(s)
Amenities
Owner's Office
Bathrooms
Rear Parking
Building Details
Year built
1954
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Brick
Roof type
Rubber
Listing Agency:
Infiniti Properties, Inc.
(708) 206-3000
Listed By:
Ned Malley · License #471007341
(708) 206-3000
Added: Apr 23
Changed: Aug 4
Last Checked: Aug 9 at 1:06AM
MLS# 12627764
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 vacant brick commercial building is approximately 4,400 square feet and is currently ready for new ownership. The layout includes an owners office and two bathrooms, along with rear parking for approximately 15+ vehicles.
The property is zoned PMD and is positioned as a multiple-use building with authorization for automobile-related business uses, according to the listing remarks.
The asset’s combination of office space, multiple restrooms, and on-site rear parking supports a range of automotive-oriented operations in a single location.
The property is zoned PMD and is positioned as a multiple-use building with authorization for automobile-related business uses, according to the listing remarks.
The asset’s combination of office space, multiple restrooms, and on-site rear parking supports a range of automotive-oriented operations in a single location.
Key Highlights
- 4400 Sq. Ft. Brick Commercial Building
- Zoned PMD 13 for Multiple Use, Including Automobile Related Businesses
- Rear Parking for 15+ Vehicles
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
$27,592
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
8.49%
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%
$551,840
$551.8K
Cap Rate 7%
$394,171
$394.2K
Cap Rate 9%
$306,578
$306.6K
Market Conditions
NOI Build-Up for 4,400 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
$41.5K $9.43/SF
− Vacancy
−$2.1K −$0.47/SF
EGI
$39.4K $8.96/SF
− OpEx
−$11.8K −$2.69/SF
NOI
$27.6K $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%
$551,840
Cap Rate 7%
$394,171
Cap Rate 9%
$306,578
Alternative Uses
Best Use
Retail
$869.6K
$760.9K – $1.01M
NOI $60,873 @ 7.0% cap · market cap 18.73%
Second Best
Industrial
$394.2K
$344.9K – $459.9K
NOI $27,592 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$2.07M
$1.82M – $2.42M
NOI $145,221 @ 7.0% cap · market cap 44.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
645
Businesses Nearby
86k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 55%
Dining 45%
Dollar Tree
Shops & Services
18,914 visits/mo
0.1 miles
McDonald's
Dining
18,388 visits/mo
0.1 miles
Citgo
Shops & Services
13,010 visits/mo
0.5 miles
Dunkin' Donuts
Dining
9,303 visits/mo
0.1 miles
Marathon
Shops & Services
8,354 visits/mo
0.1 miles
Demographics for 60620, IL
66,514
Population
30,008
Households
2.2
Avg Household Size
41
Median Age
20%
College-Educated
88%
High-School Grad
7.0 sq mi
ZIP Area
9,502
Density / Sq Mi
$48,805
Median Household Income
$36,285
Median Earnings
$1,093
Median Rent
$187,900
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Vacant brick building with two offices, two bathrooms, and rear parking for 15+ vehicles, zoned PMD.
Where is this auto shop located?
The property is located at 7828 S Claremont Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 4400 Sq. Ft. Brick Commercial Building; Zoned PMD 13 for Multiple Use, Including Automobile Related Businesses; Rear Parking for 15+ Vehicles
