Auto Shop with Service
For Sale
Contact for pricing
Pending
2920 159th Street, Markham, IL 60428
Office, restroom, and vehicle-service areas are configured for ongoing automotive operations.
Property Size5,400 SF
Days on Market580
Property Features for 2920 159th Street
General Information
Standard status
Pending
Size
5,400 SF
Property subtype
Business for Sale, Retail
Building Details
Year Built
1990
Listing Agency:
RE/MAX 10
(708) 257-8254
Listed By:
Paul Tabor · License #471004666
Source:
Crexi
Added: Jan 27, 2025
Changed: Aug 29
Last Checked: Aug 29 at 2:47PM
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 RE/MAX 10
Investment Insights
Based on property information with market context.
Built in 1990, this automotive property is currently operating as a used car dealership on a 1-acre site comprising two lots. The 5,400-square-foot building contains five offices, two bathrooms with ceramic tile flooring, four car lifts, and six garage doors. The existing layout combines administrative space with vehicle service and handling areas.
The property occupies a hard corner with reported daily traffic of over 30,000 vehicles. Access to I-294, I-80, and I-57 is within minutes, connecting the site to surrounding commercial areas. Amazon operations employing 3,500 people are located down the street. The property is positioned for continued automotive use, with the existing dealership configuration already in place.
The property occupies a hard corner with reported daily traffic of over 30,000 vehicles. Access to I-294, I-80, and I-57 is within minutes, connecting the site to surrounding commercial areas. Amazon operations employing 3,500 people are located down the street. The property is positioned for continued automotive use, with the existing dealership configuration already in place.
Key Highlights
- 5,400‑square‑foot automotive building on a 1‑acre site
- Five offices and two bathrooms with ceramic tile flooring
- Four heavy‑duty car lifts for vehicle service operations
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$74,953
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.89%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,499,060
$1.5M
Cap Rate 7%
$1,070,757
$1.1M
Cap Rate 9%
$832,811
$832.8K
Market Conditions
NOI Build-Up for 5,400 SF
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.
Gross rent
$116.6K $21.60/SF
− Vacancy
−$9.6K −$1.77/SF
EGI
$107.1K $19.83/SF
− OpEx
−$32.1K −$5.95/SF
NOI
$75.0K $13.88/SF
Area
Cook County, IL
Vacancy
8.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,499,060
Cap Rate 7%
$1,070,757
Cap Rate 9%
$832,811
Alternative Uses
Best Use
Retail
$1.07M
$936.9K – $1.25M
NOI $74,953 @ 7.0% cap · market cap 7.89%
Second Best
Industrial
$332.1K
$290.6K – $387.4K
NOI $23,245 @ 7.0% cap · market cap 2.45%
Theoretical Best
Office A
$1.86M
$1.63M – $2.18M
NOI $130,506 @ 7.0% cap · market cap 13.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60428, IL
11,351
Population
4,138
Households
2.7
Avg Household Size
36
Median Age
16%
College-Educated
87%
High-School Grad
5.1 sq mi
ZIP Area
2,226
Density / Sq Mi
$53,059
Median Household Income
$39,861
Median Earnings
$1,686
Median Rent
$118,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Office, restroom, and vehicle-service areas are configured for ongoing automotive operations.
Where is this auto shop located?
The property is located at 2920 159th Street Markham, IL.
What is the asking price?
The asking price for this property is $949,500.
What are key features of this property?
This property features: 5,400‑square‑foot automotive building on a 1‑acre site; Five offices and two bathrooms with ceramic tile flooring; Four heavy‑duty car lifts for vehicle service operations
