Brick Auto Shop
For Sale
$240,000
1058 W 111th Street, Chicago, IL 60643
Fenced lot with vehicle storage, reception space, and lofted storage supports multiple operational needs.
Property Size1,250 SF
Days on Market32
Property Features for 1058 W 111th Street
General Information
Standard status
Active
Size
1,250 SF
Property subtype
Commercial
Zoning
COMMR
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Service Bays
3
Taxes and HOA fees
Annual Taxes
$4,935
Amenities
office/supply room
reception area
1/2 bath
lofted storage
newer roof
upgraded electric service
newer exhaust vents
Building Details
Building Size
1,250 SF
Year Built
1950
Buildings
1
Stories
1
Construction
brick
Listing Agency:
RE/MAX 10 in the Park
(708) 923-0900
Listed By:
Michael Fegan · License #475163311
(708) 923-0900
Source:
Allinonerealestateco
Added: Jul 31
Changed: Aug 28
Last Checked: Aug 29 at 10:18AM
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 RE/MAX 10 in the Park
Investment Insights
Based on property information with market context.
This brick commercial building was constructed in 1950 and was most recently used for auto repair. The layout includes three oversized service doors measuring approximately 10 feet high, along with a reception area, office and supply room, half bath, and lofted storage. A newer roof, upgraded electric service, and newer exhaust vents are also in place.
The property includes a large fenced lot that accommodates parking and vehicle storage. Its combination of service-door access, administrative space, storage, and supporting improvements provides a practical configuration for automotive operations.
The property includes a large fenced lot that accommodates parking and vehicle storage. Its combination of service-door access, administrative space, storage, and supporting improvements provides a practical configuration for automotive operations.
Key Highlights
- 3 oversized doors approximately 10' high
- Brick commercial building constructed in 1950
- Large fenced lot for parking and vehicle storage
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
$17,294
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
7.21%
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%
$345,880
$345.9K
Cap Rate 7%
$247,057
$247.1K
Cap Rate 9%
$192,156
$192.2K
Market Conditions
NOI Build-Up for 1,250 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
$27.0K $21.60/SF
− Vacancy
−$2.3K −$1.84/SF
EGI
$24.7K $19.76/SF
− OpEx
−$7.4K −$5.93/SF
NOI
$17.3K $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%
$345,880
Cap Rate 7%
$247,057
Cap Rate 9%
$192,156
Alternative Uses
Best Use
Retail
$247.1K
$216.2K – $288.2K
NOI $17,294 @ 7.0% cap · market cap 7.21%
Second Best
Industrial
$112.0K
$98.0K – $130.7K
NOI $7,839 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$589.4K
$515.7K – $687.6K
NOI $41,256 @ 7.0% cap · market cap 17.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Service bays
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
597
Businesses Nearby
23k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Shops & Services 36%
Electronics 2%
White Castle
Dining
14,042 visits/mo
0.3 miles
Citgo
Shops & Services
4,596 visits/mo
0.4 miles
Jiffy Lube
Shops & Services
2,889 visits/mo
0.5 miles
Car-X Auto Service
Shops & Services
651 visits/mo
0.4 miles
Boost Mobile
Electronics
463 visits/mo
0.4 miles
Demographics for 60643, IL
47,831
Population
19,541
Households
2.4
Avg Household Size
44
Median Age
39%
College-Educated
93%
High-School Grad
7.4 sq mi
ZIP Area
6,464
Density / Sq Mi
$83,015
Median Household Income
$53,155
Median Earnings
$1,359
Median Rent
$233,900
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- MRFIXYOSHYT — 11550 S Halsted St, Chicago, IL 60628
- Pee Wee's Tire Repair — 1448 W 115th St, Chicago, IL 60643
- Taylor Pumps Inc — 11328 S Halsted St, Chicago, IL 60628
- Valvoline Instant Oil Change — 11328 S Halsted St, Chicago, IL 60628
- Morgan Park Auto Service, Inc. — 11200 S Halsted St, Chicago, IL 60628
Frequently Asked Questions
What type of property is this?
Auto shop - Fenced lot with vehicle storage, reception space, and lofted storage supports multiple operational needs.
Where is this auto shop located?
The property is located at 1058 W 111th Street Chicago, IL.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 3 oversized doors approximately 10' high; Brick commercial building constructed in 1950; Large fenced lot for parking and vehicle storage
