Western Avenue Car Dealership
6518-6542 S Western Ave Chicago, IL 60636
6518-6542 S Western Ave, Chicago, IL, 60636
$834,960
For Sale
$834,960
Car dealership on 0.7 AC lot, redevelopment opportunity.
Property Size7,234 SF
Lot Size0.70 Acres
Price / SF$115.42
Days on Market137
Property Features for 6518-6542 S Western Ave
General Information
- Standard status
- Active
- Size
- 7,234 SF
- Lot size
- 0.70 Acres
- Property subtype
- Land
Listing agency
NAI Hiffman | Oakbrook Terrace
(708) 539-6398
Listed by
John Basile
(708) 539-6398
Source
Naiglobal
Added: Mar 6 Updated: Jul 10 at 3:48PM Checked: Jul 21 at 6:46AM
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 NAI Hiffman | Oakbrook Terrace
Investment Insights
Based on property information with market context.
This property features an existing car dealership situated on a 0.7-acre lot with frontage on Western Avenue, presenting a redevelopment opportunity. The site is located approximately 3 miles from I-94 and 4.8 miles from I-55 interstates, and 9 miles from Chicago Business District. The existing building is a +/-7,234 SF 3-story mixed-use structure, currently vacant. Additionally, there is an office and garage space of +/-1,500 SF. The site size is +/-30,243 SF and is zoned B1-2. The 2023 real estate taxes were $43,399. The property is located in Ward 16, Alderman Stephanie D. Coleman.
Key Highlights
- Prime redevelopment opportunity on .7 AC lot with frontage on Western Avenue
- Ideal plug and play car dealership
- Located +/-3 miles from I‑94 and 4.8 miles from I‑55 interstates
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $68.2k | $9.43 |
| − Vacancy | −$3.4k | −$0.47 |
| EGI | $64.8k | $8.96 |
| − OpEx | −$19.4k | −$2.69 |
| NOI | $45.4k | $6.27 |
7,234 SF · lease $9.43/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$1.92M
$1.68M – $2.24M
NOI $134,639 @ 7.0% cap · market cap 16.13%
Second Best
Retail
$1.43M
$1.25M – $1.67M
NOI $100,081 @ 7.0% cap · market cap 11.99%
Theoretical Best
Office A
$3.41M
$2.98M – $3.98M
NOI $238,757 @ 7.0% cap · market cap 28.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Car washes
Similar For Sale Nearby
FAQs
What type of property is this?
Car wash - Car dealership on 0.7 AC lot, redevelopment opportunity.
Where is this car wash located?
The property is located at 6518-6542 S Western Ave Chicago, IL.
What is the asking price?
The asking price for this property is $834,960.
What are key features of this property?
This property features: Prime redevelopment opportunity on .7 AC lot with frontage on Western Avenue; Ideal plug and play car dealership; Located +/-3 miles from I‑94 and 4.8 miles from I‑55 interstates
