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    Oak Lawn Freestanding Retail Opportunity Title is generated by Realmo AI

    5420 West 95th Street, Oak Lawn, IL 60453

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    Prime retail space in Oak Lawn's commercial corridor.

    Type:SCR-REST
    Property size:
    6,961 SF
    Lot size:
    1.18 Acres
    Added:
    May 17, 2025
    Days on Market:
    372
    Last Refresh:
    Apr 3 at 5:01 am

    Property Features for 5420 West 95th Street

    General Information

    Standard status
    Active
    Size
    6,961 SF
    Lot size
    1.18 Acres
    Property subtype
    SCR-REST

    Spaces For Lease

    at 5420 West 95th Street Contact us

    We can help!

    Listing Contact
    Anthony Hardy

    Listing agent Anthony Hardy License #475139834

    Listing office Keller Williams ONEChicago

    Listing date May 17, 2025

    Source Realnex

    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 Keller Williams ONEChicago

    HighLights

    • Prime location in Oak Lawn's dominant commercial corridor with exceptional visibility and high traffic count.
    • Strong demographics and high consumer spending.
    • Versatile C‑2 zoning allows for a wide variety of uses.
    • Ample parking with 129 spaces and multiple points of ingress/egress.
    • Located on a ±1.18‑acre signalized corner lot with monument signage.
    • Close proximity to major retailers, Downtown Oak Lawn, Chicago Ridge Mall, and major interstates.

    Overview

    Located in the heart of Oak Lawn's commercial corridor, this freestanding retail space offers a leasing opportunity. The property, formerly a TGI Friday's, has an area of approximately 6,961 square feet and is situated on an approximately 1.18-acre corner lot with signage. The location benefits from high visibility, with an estimated 36,941 vehicles per day expected in 2025. The site provides a total of 129 parking spaces, including 83 private on-site spaces and 46 adjacent public spaces, along with multiple entry and exit points. The property is located near the revitalized Downtown Oak Lawn district and a short distance from Chicago Ridge Mall and the 95th & Cicero retail area. Nearby businesses include Amazon Fresh, Target, Shake Shack, LA Fitness, Panera Bread, Home Depot, and Dunkin'. Zoned C-2 (General Service Commercial), the location is suitable for various uses, including QSR, fast casual dining, service retail, or branded flagship concepts. The landlord is open to a long-term NNN lease and offers flexible delivery options. The area has strong demographics, with over $4.7 billion in annual consumer spending within a 5-mile radius, and convenient access to I-294, I-57, and I-80.
    Property Profile Location Intelligence

    Current Use by Public Records

    TGI Fridays Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Oak Lawn
    County
    Cook
    State
    Illinois
    Longitude
    -87.7565637
    Latitude
    41.7201257

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    FAQs

    What type of property is this?
    Conventional restaurant - Prime retail space in Oak Lawn's commercial corridor.
    Where is this conventional restaurant located?
    The property is located at 5420 West 95th Street Oak Lawn, IL.
    What are key features of this property?
    This property features: Prime location in Oak Lawn's dominant commercial corridor with exceptional visibility and high traffic count.; Strong demographics and high consumer spending.; Versatile C‑2 zoning allows for a wide variety of uses.
    (630) 570-2223
    We can help!
    Listing Contact
    Anthony Hardy
    Real Estate License ID: 475139834
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    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.

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