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    1655 Irving Park Rd Hanover Park, IL 60133

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    For Sale
    $1,493,506

    Single-tenant auto shop in Hanover Park retail corridor for sale.

    Property size:
    4,182 SF
    Lot size:
    0.52 Acres

    Property Features for 1655 Irving Park Rd

    General Information

    Size
    4,182 SF
    Lot size
    0.52 Acres

    Source: Colliers | Chicago Rosemont Agent Peter Block

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

    Overview

    Remodeled Auto Shop Investment Opportunity

    This 4,182-square-foot property is a newly remodeled Meineke location in the Chicago MSA. The single-tenant building is leased for a 15-year term. Located on Irving Park Road (I-19) just west of Barrington Road, the property is situated at the hub of the Hanover Park retail corridor, surrounded by retail and residential areas. Irving Park Road sees daily traffic of over 23,000 people, and the intersection at Barrington Road experiences over 30,700. The location benefits from a dense surrounding population, with over 18,900 people within 1 mile and 119,000+ people within 3 miles of the store. This property presents an opportunity to acquire a recession-proof single-tenant net lease with a good operating history and a growing franchisee. Meineke is a leading brand in auto-maintenance and repair, now under the Driven Brands umbrella.
    Insight Report Location Intelligence

    Current Use by Public Records

    Car-X Tire & Auto Auto Repair Shop

    Suggested Use

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

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

    Similar Places Nearby

    E & A Automotive Inc, Midas, ALCOLOCK Ignition Interlock, SAMIR’S VOLVO TRUCK & TRAILER REPAIR MOBILE ONLY ROAD SERVICE, Just Tires

    Location Insight

    • Map
    • Local Demand
    City
    Hanover Park
    County
    Cook
    State
    Illinois
    Longitude
    -88.1470583
    Latitude
    42.0059277

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    FAQs

    What type of property is this?
    Auto shop - Single-tenant auto shop in Hanover Park retail corridor for sale.
    Where is this auto shop located?
    The property is located at 1655 Irving Park Rd Hanover Park, IL.
    What is the asking price?
    The asking price for this property is $1,493,506.
    What are key features of this property?
    This property features: - 15-year single-tenant net lease with a **7.70% cap rate**.; - Located on Irving Park Road (I-19) with **high daily traffic count (23,000+)**.; - Part of the Hanover Park retail corridor, surrounded by retail and residential properties.
    (312) 343-1800
    Request Owner's contact information
    1655 Irving Park Rd Hanover Park, IL 60133
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    Hanover Park, IL 60133
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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
    1655 Irving Park Rd Hanover Park, IL 60133
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