Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5601-5699 W Touhy Ave Niles, IL 60714

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available in high-performing Chicago metro power center.

    Property size:
    1,472 SF
    Lot size:
    18.82 Acres

    Property Features for 5601-5699 W Touhy Ave

    General Information

    Size
    1,472 SF
    Lot size
    18.82 Acres

    We can help!

    Listing Contact
    Jason Gustaveson
    Jason Gustaveson
    Source: Moodyscre

    Listing Agent: Jason Gustaveson

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

    Learn more

    Overview

    Retail Space in Niles, IL

    This retail space is located within one of the best performing power centers in the Chicago metro area. The center benefits from several dynamic traffic generators, drawing customers from well-educated and affluent suburbs including Park Ridge, Niles, Skokie, Morton Grove, and the northwest side of Chicago. The property offers 1,472 square feet of retail space.
    Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Niles
    County
    Cook
    State
    Illinois
    Longitude
    -87.7681692
    Latitude
    42.0090606

    Nearby Similar for Lease

    • Contact for pricing

      Prime Retail/Office Space Available

      High-visibility retail or office space in Niles, IL.
      9050 Golf Rd, Niles, IL 60714
      View Details
    • $9 SF/Yr
      311,103 SF

      Howard Commons: Multi-Use Industrial Space

      Prime North Cook location, flexible spaces available.
      6201 Howard St, Niles, IL 60714
      View Details
    • $19 SF/Yr
      160,000 SF

      Niles Medical Office Space Available

      Class A Medical Office, 5,000 SF Vacant
      8975 Golf Rd, Niles, IL 60714
      View Details
    • $8 SF/Yr
      36,605 SF

      Touhy Office Center: Niles, IL

      Niles office building, newly renovated, multiple suites.
      5940 Touhy Ave, Niles, IL 60714
      View Details
    • Contact for pricing
      165,516 SF

      Oak Mill Plaza Retail Center

      Niles, IL Strip Mall - 8 Suites Available
      7900 Milwaukee Ave, Niles, IL 60714
      View Details
    • Contact for pricing
      220,964 SF

      Dempster Plaza Retail Space for Lease

      Niles, IL Strip Center with High Traffic
      8650 Dempster St, Niles, IL 60714
      View Details
    • Contact for pricing
      1,103,175 SF

      Golf Mill Shopping Center: Niles, IL

      Prime Retail Space: Niles, IL. Multiple units available.
      239 Golf Mill Ctr, Niles, IL 60714
      View Details
    • $19 SF/Yr
      5,000 SF

      Niles Retail Space - Golf Road

      Prime Niles retail space, flexible footprint.
      8975 Golf Rd, Niles, IL 60714
      View Details
    • Contact for pricing
      33,228 SF

      Niles Center Retail Spaces Available

      Prime Retail, Two Spaces, High Traffic
      7233 Dempster St, Niles, IL 60714
      View Details
    • Contact for pricing
      32,028 SF

      Retail Anchor Space Available

      32,028 SF divisible anchor space in Niles, Illinois.
      7255 W Dempster St, Niles, IL 60714
      View Details
    • Contact for pricing
      1,032 SF

      Regional Retail Center Space Available

      Retail space for lease in regional shopping center.
      220-590 Golf Mill Ctr, Niles, IL 60714
      View Details
    • Contact for pricing
      1,949 SF

      Niles Retail Spaces Available

      Newer shopping center retail spaces in Niles, Illinois.
      800-898 Civic Center Dr, Niles, IL 60714
      View Details

    FAQs

    What type of property is this?
    Strip mall - Retail space available in high-performing Chicago metro power center.
    Where is this strip mall located?
    The property is located at 5601-5699 W Touhy Ave Niles, IL.
    What are key features of this property?
    This property features: - Located in one of the best performing power centers in the Chicago metro area.; - Draws customers from well-educated, affluent suburbs like Park Ridge, Niles, Skokie, and Morton Grove.; - Also draws customers from the Northwest side of Chicago.
    (847) 217-4900
    Request Owner's contact information
    5601-5699 W Touhy Ave Niles, IL 60714
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5601-5699 W Touhy Ave
    Niles, IL 60714
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    5601-5699 W Touhy Ave Niles, IL 60714
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jason Gustaveson
    Jason Gustaveson
    (847) 217-4900
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.