Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    7777 Lake St River Forest, IL 60305

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

    Value-add retail and office building in River Forest, Illinois.

    Building Details

    Year built
    1940

    We can help!

    Listing Contact
    Karen Kulczycki, Ccim, Sior
    Source: Svn

    Listing Agent: Karen Kulczycki, Ccim, Sior

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

    Learn more

    Overview

    River Forest Retail and Office

    Located in River Forest, Illinois, 7777 Lake Street is a retail and office building offering approximately 15,000 square feet of space on a 0.45-acre lot. The property includes a full basement for storage and features a total of 20 units. Currently, the building is 48% occupied, presenting a value-add opportunity. Existing retail tenants include Edward Jones Investments and River Forest Dry Cleaners & Tailoring, along with various office users. The property benefits from a surface parking lot and ample street parking. Situated one mile west of downtown River Forest's shopping district and directly across from Lincoln Elementary School, the location offers high visibility. River Forest, a village in Cook County, is approximately 11 miles west of downtown Chicago and closely connected to Oak Park. The area is home to Dominican and Concordia Universities, with a combined student population of around 8,200. Transportation options are readily accessible, with close proximity to the Harlem/Lake Green Line "el" station, the River Forest Metra station, and the Oak Park Metra station. Major roadways, including I-290, I-294, Illinois Route 43, and Illinois Route 64, are easily accessible.
    Location Intelligence

    Current Use by Public Records

    Icap Social Service Agency Soppet Stephen E ... Dental Office Lee Clara w ... Dental Office BEactive bodyTherapies Alternative Medicine Practice Frank Aievoli American ... Insurance Agency

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    River Forest
    County
    Cook
    State
    Illinois
    Longitude
    -87.8189889
    Latitude
    41.8880143

    Nearby Similar for Sale

    • $2,750,000
      12,000 SF

      River Forest Retail/Office Suites Available

      River Forest Retail/Office Suites For Sale
      7777 Lake St, River Forest, IL 60305
      View Details
    • $159,900
      750 SF

      River Forest Condo with Modern Amenities

      Condo in River Forest with open layout and modern features.
      409 Lathrop Ave, River Forest, IL 60305
      View Details
    • $2,750,000
      17,000 SF

      River Forest Multi-Tenant Property

      17,000 SF Retail/Office, Value-Add Opportunity
      7777 Lake St, River Forest, IL 60305
      View Details
    • $600,000
      3,200 SF

      River Forest Commercial Retail Investment

      Two renovated storefronts with long-term tenants in River Forest.
      7361 North Ave, River Forest, IL 60305
      View Details
    • Contact for pricing
      900 SF

      River Forest Condo with Updates

      East-facing 2 bed, 1 bath condo with updated kitchen.
      7212 Oak Ave, River Forest, IL 60305
      View Details

    FAQs

    What type of property is this?
    Retail space - Value-add retail and office building in River Forest, Illinois.
    Where is this retail space located?
    The property is located at 7777 Lake St River Forest, IL.
    What are key features of this property?
    This property features: - Value-add opportunity with a 15,000 SF retail and office building on 0.45 acres.; - High visibility location in River Forest, near downtown Chicago and Oak Park.; - 48% occupied with 20 total units, including established tenants like Edward Jones Investments and River Forest Dry Cleaners & Tailoring.
    (630) 330-3352
    Request Owner's contact information
    7777 Lake St River Forest, IL 60305
    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.
    7777 Lake St
    River Forest, IL 60305
    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
    7777 Lake St River Forest, IL 60305
    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
    Karen Kulczycki, Ccim, Sior
    Real Estate License ID: #471020279
    (630) 330-3352
    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!