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    Freestanding Pep Boys Ground Lease Title is generated by Realmo AI

    10100 Ridgeland Ave, Chicago Ridge, IL

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    Pep Boys ground lease with development potential in Chicago Ridge.

    Type:RETAIL
    Property size:
    22,354 SF
    Lot size:
    5.14 Acres
    Price / SF:
    $236/SF
    Added:
    Aug 26, 2025
    Days on Market:
    294
    Last Refresh:
    May 20 at 8:43 pm

    Property Features for 10100 Ridgeland Ave

    General Information

    Standard status
    Active
    Size
    22,354 SF
    Lot size
    5.14 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Alex Sharrin

    Listing agent Alex Sharrin License #IL 475.170243

    Listing office JLL | Miami

    Listing date Aug 26, 2025

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of JLL | Miami

    HighLights

    • Ground lease interest in a freestanding Pep Boys location.
    • Approximately 6.7 years of remaining lease term.
    • Attractive 15% rent escalation in the remaining option period.
    • Adjacent 2.0‑acre development land pad/parcel available.
    • Potential to divide the development land parcel into two separate lots.
    • Opportunity to acquire a functional automotive retail asset with future development potential.

    Overview

    The property is a freestanding Pep Boys located at 10100 S Ridgeland Avenue in Chicago Ridge, IL. Pep Boys operates on a ground lease with approximately 6.7 years of lease term remaining. The lease includes a 15% rent escalation in the one remaining option period. The adjacent 2.0-acre development land pad/parcel is also available, offering potential for future development. It may be possible to divide the parcel on which the development land is located into two separate lots as of right, but purchaser should investigate the applicable legal processes involved. This opportunity allows investors to acquire a functional automotive retail asset with upside via rental escalations and future development.

    Local 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 $482.8k $21.60
    − Vacancy −$39.6k −$1.77
    EGI $443.3k $19.83
    − OpEx −$133.0k −$5.95
    NOI $310.3k $13.88
    22,354 SF · lease $21.60/SF/yr · vacancy 8.20% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $4.43M
    $3.88M – $5.17M (±1% cap)
    NOI $310,277 @ 7.0% cap · market cap 5.87%
    Second Best
    Industrial
    $1.37M
    $1.20M – $1.60M (±1% cap)
    NOI $96,226 @ 7.0% cap · market cap 1.82%
    Theoretical Best
    Office A
    $7.72M
    $6.75M – $9.00M (±1% cap)
    NOI $540,247 @ 7.0% cap · market cap 10.22%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    UPS Access Point ... Courier Service Pep Boys (Bike/Boat/Book/etc) Store Advance Auto Parts Auto Parts Store

    Suggested Use

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

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

    Similar Places Nearby

    • U-Haul Neighborhood Dealer — 10539 SW Hwy, Worth, IL 60482

    Location Insight

    • Map
    • Local Demand
    City
    Chicago Ridge
    County
    Cook
    State
    Illinois
    Longitude
    -87.7803
    Latitude
    41.7082

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    FAQs

    What type of property is this?
    Automotive property - Pep Boys ground lease with development potential in Chicago Ridge.
    Where is this automotive property located?
    The property is located at 10100 Ridgeland Ave Chicago Ridge, IL.
    What is the asking price?
    The asking price for this property is $5,286,000.
    What are key features of this property?
    This property features: Ground lease interest in a freestanding Pep Boys location.; Approximately 6.7 years of remaining lease term.; Attractive 15% rent escalation in the remaining option period.
    (305) 913-5545 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Alex Sharrin
    Real Estate License ID: IL 475.170243
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