Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Retail Space in Cook County Title is generated by Realmo AI

    2450 168th St, Lansing, IL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail spaces available in shopping center with high traffic.

    Type:RETAIL
    Property size:
    1,050 SF
    Lot size:
    34.60 Acres
    Added:
    Feb 5, 2024
    Days on Market:
    832
    Last Refresh:
    Apr 5 at 10:13 pm

    Property Features for 2450 168th St

    General Information

    Standard status
    Active
    Size
    1,050 SF
    Lot size
    34.60 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 2450 168th St Contact us

    We can help!

    Listing Contact
    Igal Nassim

    Listing agent Igal Nassim

    Listing office Mason Asset Management - Corporate

    Listing date Feb 5, 2024

    Source Moodyscre

    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 Mason Asset Management - Corporate

    HighLights

    • High visibility on Torrence Ave. with 25,907 VPD.
    • Significant GLA of 613,464 SF.
    • Situated in Cook County.
    • Offers diverse leasing options: Anchor, In‑line, and Outparcel Availabilities.
    • Easy access from I‑94.
    • Established retail presence anchored by Burlington, Forman Mills, Dollar Tree, Family Dollar & Chase Bank.

    Overview

    Located in Cook County, this retail property offers spaces for rent. The property has a Gross Leasable Area (GLA) of 613,464 square feet and provides easy access from I-94. Available space includes anchor, in-line, and outparcel options. The location benefits from a traffic count of 25,907 vehicles per day on Torrence Avenue. Current tenants include Burlington, Forman Mills, Dollar Tree, Family Dollar, and Chase Bank. One of the available spaces measures 1,050 square feet.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Similar Places Nearby

    • Coinstar Kiosk | Bitcoin ATM — Strack & Van Til, 12 Ridge Rd, Munster, IN 46321
    • Lan Ridge Plaza — 3224 Ridge Rd, Lansing, IL 60438

    Map

    City
    Lansing
    County
    Cook
    State
    Illinois
    Longitude
    -87.5389
    Latitude
    41.5648

    Nearby Similar for Lease

    • Contact for pricing
      3,500-5,800 SF

      Office Space For Lease

      Two office suites available in a highly visible commercial corridor.
      3043 Ridge Rd, Unit 101, Lansing, IL 60438
      View Details
    • $20 SF/Yr
      2,932 SF

      Retail Space with Modern Facelift

      Highly visible retail space in a densely populated area.
      16901-16915 Torrence Ave, Lansing, IL
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space in Walmart Outlot

      2400 SF retail space in a busy Walmart outlot.
      17643-17681 Torrence Ave, Lansing, IL 60438
      View Details
    • Contact for pricing
      313,982 SF

      Industrial Building Near Expressways

      313,982 SF industrial space available near I-80 and I-94.
      16801 Exchange Avenue, Lansing, IL, 60409
      View Details
    • $25 SF/Yr
      2,000 SF

      Office Space on Ridge Road

      2,000 SF office space with easy highway access.
      2457 Ridge Rd, Lansing, IL
      View Details
    • $24 SF/Yr
      2,400 SF

      Retail Space Near Walmart

      Retail units available near major retailers and highway access.
      17643-17681 Torrence Ave, Lansing, IL
      View Details
    • $22 SF/Yr
      128,466 SF

      Retail Space in Cook County

      Retail property with anchor, in-line, and outparcel availabilities.
      16771-16797 Torrence Ave, Lansing, IL
      View Details
    • Contact for pricing
      3,600 SF

      Retail Space in Cook County

      Retail spaces available in a shopping center with high traffic.
      16831 Torrence Ave, Lansing, IL
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space in Cook County

      Retail space available in a busy Cook County shopping center.
      16749 Torrence Ave, Lansing, IL
      View Details
    • Contact for pricing
      2,396 SF

      Multi-Tenant Retail, Office, Warehouse Property

      Retail, office, and warehouse spaces in downtown Lansing, Illinois.
      18241 West St, Lansing, IL 60438
      View Details
    • Contact for pricing
      6,413 SF

      Retail Space in Cook County

      Retail property in Cook County with high traffic and easy access.
      2460 168th St, Lansing, IL
      View Details
    • Contact for pricing
      1,593 SF

      Lansing Retail Space Available

      Retail spaces available in Cook County with high traffic.
      16775-16785 167th St, Lansing, IL
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail spaces available in shopping center with high traffic.
    Where is this shopping center located?
    The property is located at 2450 168th St Lansing, IL.
    What are key features of this property?
    This property features: High visibility on Torrence Ave. with 25,907 VPD.; Significant GLA of 613,464 SF.; Situated in Cook County.
    (516) 371-5858 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Igal Nassim
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    2450 168th St, Lansing, IL
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!