Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    9845 Lawrence Avenue Schiller Park, IL 60176

    View on Map
    For Sale
    $1,990,000

    COMMERCIAL - Schiller Park, IL

    Lot size:
    0.45 Acres
    Added:
    May 24, 2024
    Days on Market:
    683
    Last Refresh:
    Apr 6 at 8:06 am

    Property Features for 9845 Lawrence Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    COMMR
    Standard status
    Active
    APN
    12162020590000
    Lot size
    0.45 Acres

    Taxes and HOA fees

    Tax Year
    2022
    Tax Annual Amount
    39841

    Utilities

    Cooling system
    Central Air

    Building Details

    Floors in Building
    1

    We can help!

    Listing Contact
    Lydia Memeti

    Listing agent Lydia Memeti License #475137300

    Listing office REMAX Legends 17W480 22nd St, Oakbrook Terrace, IL

    Listing date May 24, 2024

    MLS# 12065820

    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.

    Overview

    Schiller Park Commercial Opportunity

    This commercial property in Schiller Park, Illinois, includes real estate, a restaurant/bar business, and a liquor license. The property has undergone a total remodeling, with over $300,000 invested in new interior and exterior renovations. Situated in a location near O'Hare and the 294, 90, and 94 expressways, the property is a fully operating business. The lot size is approximately 0.4534 acres. The zoning is COMMR. This property offers the opportunity to start generating income immediately.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    ATM Atm Cafe Mirage Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Festicanto TV Show — 9950 Lawrence Ave, Schiller Park, IL 60176
    • Richie's Restaurant — 9812 Lawrence Ave, Schiller Park, IL 60176
    • SWAY BAR — 9420 W Irving Park Rd, Schiller Park, IL 60176
    • The Landing Strip Bar and Grill — 9820 Lawrence Ave, Schiller Park, IL 60176
    • Horseshoe Inn — 9639 Irving Park Rd, Schiller Park, IL 60176

    Location Insight

    • Map
    • Local Demand
    City
    Schiller Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.8732135
    Latitude
    41.9653963

    Nearby Similar for Sale

    • $1,490,000

      Schiller Park Bar/Club For Sale

      Remodeled bar/club lounge near O'Hare Airport with parking.
      9823 Lawrence Avenue, Schiller Park, IL 60176
      View Details
    • $575,000
      7,600 SF

      Specialty Property Near O'Hare Airport

      Specialty property located near O'Hare International Airport and I-294.
      3920 Wesley Terrace, Schiller Park, IL 60176
      View Details
    • $1,400,000

      Schiller Park Commercial Property

      Commercial property for sale in Schiller Park, Illinois.
      9250 Ivanhoe Street, Schiller Park, IL 60176
      View Details
    • Contact for pricing
      120,461 SF

      Schiller Park Warehouse For Sale

      120,461 SF warehouse near I-294 and O’Hare Airport.
      3951 & 3955 25th Ave & 9715 Soreng Ave, Schiller Park, IL 60176
      View Details
    • Contact for pricing
      20,325 SF

      Industrial Facility Near O'Hare Airport

      20,325 SF industrial facility with convenient highway and airport access.
      9815 Leland Ave., Schiller Park, IL 60176
      View Details
    • $3,595,000
      23,000 SF

      Schiller Park Retail Strip Center

      Six-tenant strip center near O'Hare Airport and Schiller Park.
      4940 River Rd, Schiller Park, IL 60176
      View Details
    • Contact for pricing

      Industrial Park Near O'Hare Airport

      Three-building industrial park with convenient airport access.
      3701-3717 N 25th Avenue, Schiller Park, IL 60176
      View Details
    • Contact for pricing
      120,461 SF

      Schiller Park Industrial Facility

      120,461 SF industrial facility with convenient access to I-294.
      3951 & 3955 25th Ave & 9715 Soreng Ave, Schiller Park, IL 60176
      View Details
    • Contact for pricing
      35,000 SF

      Schiller Park Industrial Building For Sale

      35,000 SF industrial building in a sought-after Schiller Park location.
      9225 Ivanhoe St, Schiller Park, IL 60176
      View Details
    • Contact for pricing
      39,582 SF

      Schiller Park Industrial Park

      Three-building industrial park near O'Hare Airport's South Cargo Entrance.
      3737-3749 N 25th Avenue, Schiller Park, IL 60176
      View Details
    • $700,000
      30,810 SF

      Schiller Park Industrial Warehouse Opportunity

      30,810 SF warehouse with redevelopment potential near O'Hare Airport.
      3919 Wesley Ter, Schiller Park, IL
      View Details
    • Contact for pricing
      33,242 SF

      Schiller Park Industrial Portfolio

      Three industrial buildings totaling 33,242 SF in Schiller Park.
      9420 Byron St, Schiller Park, IL
      View Details

    FAQs

    What type of property is this?
    Bar & Pub - Restaurant/Bar with Real Estate and Liquor License Included
    Where is this bar & pub located?
    The property is located at 9845 Lawrence Avenue Schiller Park, IL.
    What is the asking price?
    The asking price for this property is $1,990,000.
    What are key features of this property?
    This property features: Restaurant/Bar with Real Estate and Liquor License Included; Recently Remodeled (Over $300K Investment); Fully Operating Business (Immediate Income Potential)
    (708) 655-5000
    We can help!
    Listing Contact
    Lydia Memeti
    Real Estate License ID: 475137300
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!