Two-Unit Storefront
For Sale
$499,900
14342 S La Grange Road, Orland Park, IL 60462
Two commercial suites with existing long-term leases provide an established retail configuration.
Property Size2,145 SF
Price / SF$233.05
Days on Market17
Property Features for 14342 S La Grange Road
General Information
Standard status
Active
Size
2,145 SF
Property subtype
Commercial
Zoning
COMMR
Taxes and HOA fees
Annual Taxes
$19,662
Building Details
Building Size
2,145 SF
Year Built
1971
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Village Realty, Inc.
(708) 263-5869
Listed By:
Michael Glenn · License #471022481
Source:
Jjillrealtygroup
Added: Aug 12
Changed: Aug 28
Last Checked: Aug 25 at 9:20AM
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 Village Realty, Inc.
Investment Insights
Based on property information with market context.
This two-unit storefront property contains 2,145 square feet, with one suite measuring 800 square feet and the other offering 1,345 square feet. The building includes two bathrooms and was constructed in 1971.
Both units are occupied under long-term leases. The property is located at 14342 S La Grange Rd in Orland Park, Illinois, providing a defined commercial address for the existing storefront configuration.
Both units are occupied under long-term leases. The property is located at 14342 S La Grange Rd in Orland Park, Illinois, providing a defined commercial address for the existing storefront configuration.
Key Highlights
- 2,145‑square‑foot storefront building in Orland Park
- Two commercial units and two bathrooms
- Unit 1 measures 800 Sq Ft
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
$29,773
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
5.96%
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%
$595,460
$595.5K
Cap Rate 7%
$425,329
$425.3K
Cap Rate 9%
$330,811
$330.8K
Market Conditions
NOI Build-Up for 2,145 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
$46.3K $21.60/SF
− Vacancy
−$3.8K −$1.77/SF
EGI
$42.5K $19.83/SF
− OpEx
−$12.8K −$5.95/SF
NOI
$29.8K $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%
$595,460
Cap Rate 7%
$425,329
Cap Rate 9%
$330,811
Alternative Uses
Best Use
Retail
$425.3K
$372.2K – $496.2K
NOI $29,773 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$740.6K
$648.0K – $864.0K
NOI $51,840 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,625
Businesses Nearby
239k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 60%
Groceries 18%
Shops & Services 16%
Apparel 4%
Mariano's
Groceries
41,486 visits/mo
0.4 miles
McDonald's
Dining
30,950 visits/mo
0.1 miles
Starbucks
Dining
18,248 visits/mo
0.3 miles
BP
Shops & Services
17,059 visits/mo
0.2 miles
Giordano's
Dining
13,526 visits/mo
0.1 miles
Demographics for 60462, IL
40,539
Population
17,335
Households
2.3
Avg Household Size
45
Median Age
45%
College-Educated
94%
High-School Grad
16.0 sq mi
ZIP Area
2,534
Density / Sq Mi
$96,747
Median Household Income
$52,902
Median Earnings
$1,393
Median Rent
$330,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Two commercial suites with existing long-term leases provide an established retail configuration.
Where is this storefront property located?
The property is located at 14342 S La Grange Road Orland Park, IL.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 2,145‑square‑foot storefront building in Orland Park; Two commercial units and two bathrooms; Unit 1 measures 800 Sq Ft
