10717 Ridgeland Avenue, Chicago Ridge, IL 60415

Building Details

Building Size 7,500 SF More

Listing Agency: Brookline Real Estate LLC

Listed By: William Lundy · License IL #475174897 Show Phone

Source: Dawnmckennagroup

Added: Nov 10 Changed: Nov 12 Last Checked: Nov 12 at 2:54PM

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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 Brookline Real Estate LLC

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

Jack & Pat's Old Fashioned Butcher Shop has operated since 1972, offering meat, deli products, prepared foods, catering, and specialty groceries. The sale includes both the business and the property, with on-site parking and frontage along Ridgeland Avenue near 107th Street.

The site has convenient access to the surrounding southwest suburban trade area.

Key Highlights

• Real estate and operating business are offered together
• Jack & Pat's Old Fashioned Butcher Shop has served customers since 1972
• Product mix includes meats, deli items, prepared foods, catering, and specialty groceries

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$105,490

Cap Rate

8.83%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,109,800 $2.1M

Cap Rate 7%

$1,507,000 $1.5M

Cap Rate 9%

$1,172,111 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,500 SF

Gross rent

$164.7K $21.96/SF

− Vacancy

−$14.0K −$1.87/SF

EGI

$150.7K $20.09/SF

− OpEx

−$45.2K −$6.03/SF

NOI

$105.5K $14.07/SF

Area

Cook County, IL

Vacancy

8.50%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,109,800

Cap Rate 7%

$1,507,000

Cap Rate 9%

$1,172,111

Alternative Uses

Best Use

Specialty Retail

$1.79M

$1.57M – $2.09M (±1% cap)

NOI $125,550 @ 7.0% cap · market cap 10.51%

Second Best

Retail

$1.51M

$1.32M – $1.76M (±1% cap)

NOI $105,490 @ 7.0% cap · market cap 8.83%

Theoretical Best

Office A

$2.88M

$2.52M – $3.36M (±1% cap)

NOI $201,600 @ 7.0% cap · market cap 16.87%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Jack & Pat's Old ... Take-out & Catering Big Nate's BBQ Restaurant Dave's Mad Dog ... Take-out & Catering

Suggested Use

Top Pick Daycare Center Law Firm Skin Care Clinic HVAC Service Storage Facility Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

660

Businesses Nearby

21k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Shell Shops & Services

14,259 visits/mo 0.5 miles

7-Eleven Shops & Services

5,055 visits/mo 0.0 miles

Exxon Shops & Services

2,037 visits/mo 0.0 miles

Demographics for 60415, IL

14,433

Population

5,840

Households

2.5

Avg Household Size

37

Median Age

28%

College-Educated

91%

High-School Grad

2.3 sq mi

ZIP Area

6,275

Density / Sq Mi

$69,389

Median Household Income

$48,226

Median Earnings

$1,198

Median Rent

$217,800

Median Home Value

Market

Average Price Trend$/SF for Grocery and convenience stores in Cook County, IL

$142 Jul

$346 Aug

$320 Sep

$315 Oct

Properties on Market for Grocery and convenience stores in Cook County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - The sale combines an established food business with its underlying commercial property.

Where is this grocery and convenience store located?

The property is located at 10717 Ridgeland Avenue Chicago Ridge, IL.

What is the asking price?

The asking price for this property is $1,195,000.

What are key features of this property?

This property features: Real estate and operating business are offered together; Jack & Pat's Old Fashioned Butcher Shop has served customers since 1972; Product mix includes meats, deli items, prepared foods, catering, and specialty groceries