Add Listing
    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

    1699 River Oaks Dr Calumet City, IL 60409

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Up to 28,400 SF available in River Oaks West Shopping Center.

    Building Details

    Year built
    1974

    We can help!

    Listing Contact
    Andrew Picchietti
    Andrew Picchietti
    Source: Frontlinerepartners

    Listing Agency: Frontline Real Estate Partners, LLC Listing Agent: Andrew Picchietti

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

    Learn more

    Overview

    Calumet City Retail Space Available

    Located in Calumet City, Illinois, River Oaks West Shopping Center offers up to 28,400 square feet of retail space for lease. The property is positioned at the southwest corner of the intersection of Torrence Avenue and River Oaks Road, benefiting from high traffic volume. Dual-sided monument signage is available along both Torrence Avenue (22,100 VPD) and River Oaks Road (24,700 VPD). The location is just over one mile east of Interstate-94. River Oaks Center, the 7th largest mall in the Chicago Metropolitan area totaling over 1.3 million square feet, is directly across the street. Co-tenants include Marshalls, DD's Discount, Burlington, Ross Dress for Less, Foot Locker, and Party City. The property features an on-site parking lot with 763 surface level spaces. Neighboring retailers include Sam’s Club, ALDI, Home Depot, Forman Mills, Dollar Tree, Men’s Wearhouse, Bank of America, Shoe Carnival, Buffalo Wild Wings, Starbucks, Dunkin’, McDonald’s, White Castle, Taco Bell, Panda Express, and Burger King. The available spaces, formerly a Petco and a Big Lots (available 2/1/2025), feature high ceilings and a spacious open interior. The property is located in the heart of Calumet City’s primary commercial corridor. The property is conveniently located just over four miles east of the Harvey Metra Station and less than five miles from Lansing Municipal Airport.
    Location Intelligence

    Current Use by Public Records

    Big Lots Furniture & Home Goods

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    River Oaks West Shopping Center, River Oaks Center, River Oaks Shopping Mall, River Oaks Shopping Center.

    Location Insight

    • Map
    • Local Demand
    City
    Calumet City
    County
    Cook
    State
    Illinois
    Longitude
    -87.5631496
    Latitude
    41.6005715

    Nearby Similar for Lease

    • $18 SF/Yr

      Retail Space on Sibley Boulevard

      Retail space with high traffic exposure on Sibley Boulevard.
      1555 Sibley Blvd, Calumet City, IL 60409
      View Details
    • $15 SF/Yr

      Calumet City Retail/Office Space

      Retail/office space in vibrant neighborhood strip center across from park.
      611-25 Wentworth Ave, Calumet City, IL 60409
      View Details
    • Contact for pricing

      Calumet City Industrial Facility Sublease

      Industrial facility with sublease opportunity through August 31, 2028.
      1480 Huntington Dr, Calumet City, IL 60409
      View Details
    • $18 SF/Yr

      Calumet City Retail Space Available

      Retail space in vibrant neighborhood strip center, upgrades planned.
      619 Wentworth Ave, Calumet City, IL 60409
      View Details
    • Contact for pricing
      14,750 SF

      Calumet City Industrial Facility Sublease

      14,750 SF industrial facility available for sublease.
      1480 Huntington Dr, Calumet City, IL 60409
      View Details
    • $18 SF/Yr
      900 SF

      Retail Space on Sibley Blvd

      Retail space for lease with high traffic exposure.
      1555 Sibley Blvd, Calumet City, IL 60409
      View Details
    • Contact for pricing
      15,010 SF

      Retail Space in Calumet City

      Retail space with high visibility and ample parking.
      410-500 River Oaks Dr, Calumet City, IL 60409
      View Details
    • Contact for pricing
      159,145 SF

      River Oaks West Retail Space

      Calumet City Shopping Center Opportunity
      1699 River Oaks Dr, Calumet City, IL 60409
      View Details
    • Contact for pricing
      2,118 SF

      Retail Space in River Oaks

      Retail space in the heart of the River Oaks trade area.
      668-702 River Oaks Dr, Calumet City, IL 60409
      View Details
    • $18 SF/Yr
      900 SF

      Retail Space Near Memorial Park

      Retail space available across from Memorial Park with competitive rates.
      611-625 Wentworth Ave, Calumet City, IL 60409
      View Details
    • Contact for pricing
      66,000 SF

      River Oaks Mall Anchor Space

      66,000 SF Retail Space, Prime Location
      145 River Oaks Center Dr, Calumet City, IL 60409
      View Details
    • Contact for pricing
      1,170,258 SF

      River Oaks Center Retail Space

      Prime Calumet City retail, multiple spaces available.
      96 River Oaks Center Dr, Calumet City, IL 60409
      View Details

    FAQs

    What type of property is this?
    Shopping center - Up to 28,400 SF available in River Oaks West Shopping Center.
    Where is this shopping center located?
    The property is located at 1699 River Oaks Dr Calumet City, IL.
    What are key features of this property?
    This property features: - High-traffic location at the intersection of Torrence Avenue (22,100 VPD) and River Oaks Road (24,700 VPD) for excellent exposure.; - Located across the street from River Oaks Center, driving significant customer traffic.; - Strong co-tenancy within River Oaks West Shopping Center.
    (847) 602-2005
    Request Owner's contact information
    1699 River Oaks Dr Calumet City, IL 60409
    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.
    1699 River Oaks Dr
    Calumet City, IL 60409
    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
    1699 River Oaks Dr Calumet City, IL 60409
    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
    Andrew Picchietti
    Andrew Picchietti
    Real Estate License ID: #475-181270
    (847) 602-2005 (847) 780-8065
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!