Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Blue Island Retail/Office/Medical Space Title is generated by Realmo AI

    12601 S Western Ave, Blue Island, IL 60406

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $25 SF/Yr

    Retail, medical, or office space in Blue Island, Illinois.

    Type:Retail
    Added:
    Mar 5, 2026
    Days on Market:
    72
    Last Refresh:
    Apr 5 at 8:09 pm

    Property Features for 12601 S Western Ave

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    2001

    Spaces For Lease

    at 12601 S Western Ave Contact us

    We can help!

    Listing Contact
    Paul Tsakiris
    Paul Tsakiris

    Listing agent Paul Tsakiris License #471005153

    Listing office First Western Properties

    Listing date Mar 5, 2026

    Source 1stwesternproperties

    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 First Western Properties

    HighLights

    • Prime location on Western Ave in Blue Island with strong co‑tenancy including Little Ceasers and H&R Block.
    • High visibility thanks to adjacent Walgreens location.
    • Premier pylon signage available with top position and double the average size.
    • Located within the Cal Sag Enterprise Zone.
    • Ideal for retail, medical, or office use.
    • Convenient access to I‑57 (1 mile).

    Overview

    Located at 12601 S. Western Ave in Blue Island, Illinois, this space is ideal for retail, medical, or office use. The property is a former Hollywood Video store, adjacent to Walgreens. It is situated in a well-positioned strip center with strong co-tenancy. Current co-tenants include Little Ceasers, H&R Block, Suga Churros, and Bright Smile Dental. The property is located within the Cal Sag Enterprise Zone and is approximately 1 mile from I-57. Premier pylon signage is available, offering a top position and double the average size.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dotty's Gambling House SugaChurros Cafe & Coffee Shop Aletha & Vane Law ... Law Firm Little Caesars Pizza Restaurant Dr. Ronnie Ata Dental Office

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Blue Island
    County
    Cook
    State
    Illinois
    Longitude
    -87.6802
    Latitude
    41.6647

    Nearby Similar for Lease

    • $29 SF/Yr
      1,150 SF

      Retail Space with Drive-Thru

      End-cap retail space with drive-thru and high visibility.
      12601 Western Ave, Blue Island, IL
      View Details
    • Contact for pricing
      4,400 SF

      Professionally Finished Office Space Available

      Prime location office space for lease in Blue Island, IL.
      12151 S Western Avenue SE, Blue Island, IL 60406
      View Details
    • Contact for pricing

      COMMERCIAL - Blue Island, IL

      Storefront property near dining, restaurants, and businesses in Blue Island.
      12606 Western Ave, Blue Island, IL 60406
      View Details
    • $12 SF/Yr
      4,400 SF

      Professionally Finished Office Space Available

      Well-built office space in Beverly/Morgan Park, ideal for various users.
      12151 S Western Avenue SE 12151, Blue Island, IL 60406
      View Details
    • Contact for pricing
      3,550 SF

      Downtown Blue Island Office/Retail Space

      3,550 SF office/retail space in downtown Blue Island.
      13102 S Western Avenue, Blue Island, IL 60406
      View Details
    • Contact for pricing
      3,550 SF

      Downtown Blue Island Office/Retail Space

      3,550 SF office/retail space in downtown Blue Island.
      13102 Western Ave, Blue Island, IL 60406
      View Details
    • Contact for pricing

      Clean Warehouse with Office Space

      Warehouse with office space, parking, and drive-in door.
      12541 Western Avenue, Blue Island, IL 60406
      View Details
    • Contact for pricing

      Blue Island Commercial Retail Space

      Ready-to-lease building in Blue Island with recent upgrades.
      2418 Vermont Street, Blue Island, IL 60406
      View Details
    • Contact for pricing
      13,135 SF

      Blue Island Industrial Warehouse For Lease

      13,135 SF warehouse on 0.75 AC available for lease.
      13210 Western Ave, Blue Island, IL 60406
      View Details
    • Contact for pricing
      1,606 SF

      Blue Island Retail Space Available

      Retail spaces available in high-traffic Blue Island shopping center.
      12601 S WESTERN Avenue, Blue Island, IL 60406
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail, medical, or office space in Blue Island, Illinois.
    Where is this retail space located?
    The property is located at 12601 S Western Ave Blue Island, IL.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    What are key features of this property?
    This property features: Prime location on Western Ave in Blue Island with strong co‑tenancy including Little Ceasers and H&R Block.; High visibility thanks to adjacent Walgreens location.; **Premier pylon signage available with top position and double the average size.**
    (773) 355-4780
    We can help!
    Listing Contact
    Paul Tsakiris
    Paul Tsakiris
    Real Estate License ID: 471005153
    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
    12601 S. Western Ave, Blue Island, IL 60406
    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!