Freestanding NNN
New
For Sale
Contact for pricing
1455 RING RD, Calumet City, IL 60409
Single-tenant operation is fully leased under a NNN agreement with a 10-year lease signed in 2024.
Property Size7,334 SF
Lot Size1.14 Acres
Price / SF$231.80
Days on Market4
Property Features for 1455 RING RD
General Information
Standard status
Active
Size
7,334 SF
Total Parking Spaces
93
Lot size
1.14 Acres
Property subtype
Retail
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
Greenstone Partners
Listed By:
Brewster Hague · License #IL 475.165689
(312) 614-1498
Source:
Crexi
Added: Sep 14
Changed: Sep 16
Last Checked: Sep 16 at 1:47PM
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 Greenstone Partners
Investment Insights
Based on property information with market context.
This freestanding restaurant building measures approximately 7,334 square feet on approximately 49,863 square feet of land. The property is occupied by Sunrize-Sunset, a Calumet City restaurant operator that expanded into this location in 2024. On-site parking includes 93 spaces.
The property occupies a position on Ring Road within the River Oaks retail corridor, just off US Route 6 and across from Sam’s Club. River Oaks Center anchors a concentration of national retail, dining, and service businesses, including Macy’s, JCPenney, Burlington, ALDI, The Home Depot, and Buffalo Wild Wings. Pace routes 353 and 358 serve the corridor, with approximately 279,000 combined annual riders in 2025; Route 353 connects with the CTA Red Line at the 95th/Dan Ryan terminal.
A 10-year NNN lease was signed in 2024, with approximately 7.3 years remaining and 3% annual rent increases. The property is approximately 25 miles southeast of the Chicago CBD, near the Illinois-Indiana border.
The property occupies a position on Ring Road within the River Oaks retail corridor, just off US Route 6 and across from Sam’s Club. River Oaks Center anchors a concentration of national retail, dining, and service businesses, including Macy’s, JCPenney, Burlington, ALDI, The Home Depot, and Buffalo Wild Wings. Pace routes 353 and 358 serve the corridor, with approximately 279,000 combined annual riders in 2025; Route 353 connects with the CTA Red Line at the 95th/Dan Ryan terminal.
A 10-year NNN lease was signed in 2024, with approximately 7.3 years remaining and 3% annual rent increases. The property is approximately 25 miles southeast of the Chicago CBD, near the Illinois-Indiana border.
Key Highlights
- Approximately 7,334‑square‑foot freestanding restaurant building
- Approximately 49,863 square feet of land with 93 parking spaces
- 100% occupied by Sunrize‑Sunset, which expanded into the location in 2024
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
$122,771
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
7.22%
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%
$2,455,420
$2.5M
Cap Rate 7%
$1,753,871
$1.8M
Cap Rate 9%
$1,364,122
$1.4M
Market Conditions
NOI Build-Up for 7,334 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
$176.0K $24.00/SF
− Vacancy
−$12.3K −$1.68/SF
EGI
$163.7K $22.32/SF
− OpEx
−$40.9K −$5.58/SF
NOI
$122.8K $16.74/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,455,420
Cap Rate 7%
$1,753,871
Cap Rate 9%
$1,364,122
Alternative Uses
Best Use
Specialty Retail
$1.75M
$1.53M – $2.05M
NOI $122,771 @ 7.0% cap · market cap 7.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.53M
$2.22M – $2.95M
NOI $177,247 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
915
Businesses Nearby
607k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 26%
Shops & Services 24%
Superstores 21%
Dining 18%
Sam's Club
Superstores
126,903 visits/mo
0.2 miles
Macy's
Apparel
62,546 visits/mo
0.3 miles
Sam's Club Gas Station
Shops & Services
48,992 visits/mo
0.1 miles
The Home Depot
Home Improvements & Furnishings
31,593 visits/mo
0.4 miles
JCPenney
Apparel
29,620 visits/mo
0.5 miles
Demographics for 60409, IL
36,045
Population
16,868
Households
2.1
Avg Household Size
39
Median Age
20%
College-Educated
88%
High-School Grad
7.7 sq mi
ZIP Area
4,681
Density / Sq Mi
$53,991
Median Household Income
$37,389
Median Earnings
$1,138
Median Rent
$133,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Single-tenant operation is fully leased under a NNN agreement with a 10-year lease signed in 2024.
Where is this conventional restaurant located?
The property is located at 1455 RING RD Calumet City, IL.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Approximately 7,334‑square‑foot freestanding restaurant building; Approximately 49,863 square feet of land with 93 parking spaces; 100% occupied by Sunrize‑Sunset, which expanded into the location in 2024
