Corner Auto Repair
New
For Sale
$699,000
105 N Pulaski Road, Chicago, IL 60624
B3-2 zoning, service-bay improvements, and an additional buildable lot expand the property’s commercial utility.
Property Size3,500 SF
Lot Size0.29 Acres
Price / SF$199.71
Days on Market5
Property Features for 105 N Pulaski Road
General Information
Standard status
Active
Size
3,500 SF
Total Parking Spaces
30
Lot size
0.29 Acres
Property subtype
COMMERCIAL
Zoning
B3-2
Additional Details
Service Bays
5
Taxes and HOA fees
Annual Taxes
$34,557
Building Details
Building Size
3,500 SF
Buildings
1
Listing Agency:
Kale Realty
Listed By:
David Johnson · License #385650
(773) 979-7107
Source:
Dawnmckennagroup
Added: Sep 16
Changed: Sep 18
Last Checked: Sep 19 at 11:16AM
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 Kale Realty
Investment Insights
Based on property information with market context.
This auto shop property at 105 N Pulaski Road includes a 3,500-square-foot building currently configured for auto repair. The facility has five bay doors, operable lifts, approximately 19–30 parking spaces, an electric water heater, and suspended furnace installed in 2020. Furniture, fixtures, and some equipment are included in the sale. The asphalt shingle and flat roof systems were installed in 2016.
The property occupies a 12,493-square-foot corner lot at Pulaski Road and West Washington Boulevard in Chicago. B3-2 zoning supports the existing commercial setting. The parcel consists of two lots with separate PIN numbers, and the second lot may be buildable for an alternate use, subject to applicable requirements.
The property occupies a 12,493-square-foot corner lot at Pulaski Road and West Washington Boulevard in Chicago. B3-2 zoning supports the existing commercial setting. The parcel consists of two lots with separate PIN numbers, and the second lot may be buildable for an alternate use, subject to applicable requirements.
Key Highlights
- 12,493‑square‑foot corner lot at Pulaski Road and West Washington Boulevard
- 3,500‑square‑foot building currently used as an auto repair shop
- Five bay doors with operable lifts
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
$48,422
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
6.93%
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%
$968,440
$968.4K
Cap Rate 7%
$691,743
$691.7K
Cap Rate 9%
$538,022
$538.0K
Market Conditions
NOI Build-Up for 3,500 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
$75.6K $21.60/SF
− Vacancy
−$6.4K −$1.84/SF
EGI
$69.2K $19.76/SF
− OpEx
−$20.8K −$5.93/SF
NOI
$48.4K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
Lease Rate
$21.60 /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%
$968,440
Cap Rate 7%
$691,743
Cap Rate 9%
$538,022
Alternative Uses
Best Use
Retail
$691.7K
$605.3K – $807.0K
NOI $48,422 @ 7.0% cap · market cap 6.93%
Second Best
Industrial
$313.5K
$274.4K – $365.8K
NOI $21,948 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$1.65M
$1.44M – $1.93M
NOI $115,517 @ 7.0% cap · market cap 16.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
5
Service bays
Location Intelligence
Trade Area within ½ mile
992
Businesses Nearby
17k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 53%
Apparel 47%
Mobil
Shops & Services
6,963 visits/mo
0.1 miles
U-Haul
Shops & Services
1,818 visits/mo
0.3 miles
Kids Foot Locker
Apparel
1,747 visits/mo
0.1 miles
Foot Locker
Apparel
1,684 visits/mo
0.3 miles
Rainbow
Apparel
1,326 visits/mo
0.3 miles
Demographics for 60624, IL
37,547
Population
16,250
Households
2.3
Avg Household Size
34
Median Age
13%
College-Educated
77%
High-School Grad
3.5 sq mi
ZIP Area
10,728
Density / Sq Mi
$32,607
Median Household Income
$30,924
Median Earnings
$1,152
Median Rent
$223,200
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?
Auto shop - B3-2 zoning, service-bay improvements, and an additional buildable lot expand the property’s commercial utility.
Where is this auto shop located?
The property is located at 105 N Pulaski Road Chicago, IL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 12,493‑square‑foot corner lot at Pulaski Road and West Washington Boulevard; 3,500‑square‑foot building currently used as an auto repair shop; Five bay doors with operable lifts
