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    11055 S Western Ave Chicago, IL 60643

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    Single tenant Dollar Tree in Chicago with long-term lease.

    Property size:
    15,717 SF
    Lot size:
    1.21 Acres

    Property Features for 11055 S Western Ave

    General Information

    Standard status
    Active
    Size
    15,717 SF
    Lot size
    1.21 Acres

    Building Details

    Year built
    2002

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    Listing Contact
    Randy Blankstein
    Source: Crexi

    Listing Agency: The Boulder Group Listing Agent: Randy Blankstein

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

    Learn more

    Overview

    Net Leased Dollar Tree Asset

    This single tenant net leased Dollar Tree property is located in Chicago, Illinois. The 15,717 square-foot building underwent extensive renovations in 2023 for Dollar Tree's tenancy, coinciding with the start of their long-term lease, which runs through November 2033. The lease includes three 5-year renewal options, each featuring a $0.50/SF rent increase at commencement. Significant capital improvements were completed in preparation for occupancy, including a newly sealed and striped parking lot, upgraded parking lot lighting, an updated fire sprinkler and electrical system, and a refreshed monument sign. Additionally, the HVAC system was replaced in 2018. The property benefits from its hard corner position along South Western Avenue, which experiences over 27,900 vehicles per day. It is also within proximity to Interstate 57 (145,000 VPD). The asset is in an affluent pocket of Chicago where the average household income is $122,000 within 1-mile. It is also a densely populated area with 449,000 people living in a 5-mile radius. Neighboring tenants include Fairplay Foods, NAPA Auto Parts, Meineke, PNC Bank, Buona Beef, and U-Haul. Furthermore, Morgan Park Highschool (1,200+ Students) is located less than one mile east of the property. This is an urban-infill location with high barriers to entry for new tenants.
    Location Intelligence

    Current Use by Public Records

    Dollar Tree Discount Store MoneyGram Bank Coinstar Bank Amy Pokrajac Pharmacy Coinhub Bitcoin ATM ... Atm

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.68073
    Latitude
    41.692265

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    FAQs

    What type of property is this?
    Grocery and convenience store - Single tenant Dollar Tree in Chicago with long-term lease.
    Where is this grocery and convenience store located?
    The property is located at 11055 S Western Ave Chicago, IL.
    What are key features of this property?
    This property features: - Long-term net lease with Dollar Tree extending through November 2033, providing stable income.; - Investment-grade tenant (Dollar Tree) with a BBB credit rating from S&P.; - **Prime hard corner location** on South Western Avenue with high traffic volume (27,900+ VPD) and proximity to Interstate 57 (145,000 VPD).
    Request Owner's contact information
    11055 S Western Ave Chicago, IL 60643
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    Chicago, IL 60643
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    11055 S Western Ave Chicago, IL 60643
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    We can help!
    Listing Contact
    Randy Blankstein
    Real Estate License ID: IL 471005983
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