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    4940 River Rd Schiller Park, IL 60176

    Sponsored
    For Sale
    $3,940,000

    Six-tenant strip center, high NOI.

    Property size:
    23,000 SF

    Description

    Added:
    Feb 11, 2025
    Days on Market:
    330
    This exceptional 23,000 square foot, single-story shopping center in Schiller Park, IL, presents a compelling investment opportunity. Boasting 100% occupancy with six diverse tenants, including Enterprise Rent-A-Car and Shoeless Joe's Ale House & Grille, this property generates a strong net operating income (NOI) of $315,569, representing an 8.00% cap rate. Built in 1990 and renovated in 2007, the property sits on a 1.38-acre lot with ample parking (82 spaces). Located just 0.75 miles from O'Hare International Airport and near the Rosemont Entertainment District, this prime location benefits from high traffic volume (approximately 25,800 vehicles daily) and a dense population. The property features a flexible zoning allowing for both retail and industrial use. Leases commenced April 21, 2009, and expire February 28, 2030, with rent bumps included. The asking price is $3,940,000 ($171.30/sq ft). This fee-simple ownership offers significant long-term potential in a highly desirable location. The property's proximity to major transportation arteries (I-294 and I-190) and significant attractions like the Fashion Outlets of Chicago and the Donald E. Stephens Convention Center further enhances its value and appeal. The property's strong tenant mix, long-term leases, and exceptional location make it an ideal investment for discerning buyers.

    Property Features for 4940 River Rd

    General Information

    Property type
    Lifestyle centers
    Square Feet
    23,000 SF
    Lot Size
    60,113 SF

    Building Details

    Year Built/Renovated
    1990/2007
    Buildings
    1
    Stories
    1
    Units
    6

    HighLights

    • $3,940,000 asking price for a 23,000 square foot, six‑tenant shopping center in Schiller Park, IL.
    • Net lease investment opportunity with an 8.00% cap rate and $315,569 NOI.
    • 100% occupancy with a diverse tenant mix including Enterprise Rent‑A‑Car and Shoeless Joe's.
    • Located 0.75 miles from O'Hare International Airport and near Rosemont's entertainment district.
    • Strong real estate fundamentals with high traffic counts and a dense, infill location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Enterprise Rent-A-Car Car Rental Agency

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Schiller Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.862056709704
    Latitude
    41.969398088397

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    FAQs

    What type of property is this?
    Lifestyle center - Six-tenant strip center, high NOI.
    Where is this lifestyle center located?
    The property is located at 4940 River Rd Schiller Park, IL.
    What is the asking price?
    The asking price for this property is $3,940,000.
    What are key features of this property?
    This property features: $3,940,000 asking price for a 23,000 square foot, six-tenant shopping center in Schiller Park, IL.; Net lease investment opportunity with an 8.00% cap rate and $315,569 NOI.; 100% occupancy with a diverse tenant mix including Enterprise Rent-A-Car and Shoeless Joe's.
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    4940 River Rd Schiller Park, IL 60176
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    Realmo Value Estimation

    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.

    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.

    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
    4940 River Rd Schiller Park, IL 60176
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