Updated Commercial Space in Stone
For Sale
$439,000
1544 N Mannheim Road, Stone Park, IL 60165
COMMERCIAL - Stone Park, IL
Property Size2,000 SF
Lot Size0.05 Acres
Price / SF$219.50
Days on Market124
Property Features for 1544 N Mannheim Road
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
South of north ave east of of wolf rd
Subdivision
Stone Park
Standard status
Active
APN
15054040670000
Size
2,000 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
15065
Utilities
Cooling system
Central Air
Building Details
Floors in Building
1
Listing Agency:
REMAX Legends · RE/MAX International
(630) 216-8000
Listed By:
Ina Tore
(708) 655-5000
Added: Apr 9
Changed: Aug 4
Last Checked: Aug 10 at 2:06AM
MLS# 12614557
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-established commercial space is positioned along a high-traffic corridor, offering strong visibility and steady foot traffic. It features approximately 22 feet of street frontage with convenient parking nearby. Currently operating as a modern salon, the property has been extensively updated and carefully maintained. The layout spans roughly 2,000 square feet and includes 10 styling stations, 3 shampoo bowls, a designated manicure and pedicure area, two restrooms, and a functional kitchen space. The interior is clean and contemporary, featuring ceramic flooring, updated finishes, and a welcoming layout designed to enhance both client experience and daily operations. This space has supported a successful business for years and offers flexibility for a range of uses. It is ideal for a salon or barbershop and can also be adapted for medical or professional services, wellness concepts, boutique fitness, or other service-driven businesses. The property is located in Stone Park, IL, in Cook County, and sits on a lot of approximately 0.0542 acres. This is a solid opportunity in a prime location for an owner-user or investor looking for a turnkey space with long-term potential.
Key Highlights
- Prime location on a high‑traffic corridor with strong visibility and steady foot traffic.
- Turnkey, extensively updated, and carefully maintained commercial space.
- Approximately 2,000 square feet with a functional layout including 10 styling stations, 3 shampoo bowls, manicure/pedicure area, 2 restrooms, and a kitchen.
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
$27,760
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
6.32%
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%
$555,200
$555.2K
Cap Rate 7%
$396,571
$396.6K
Cap Rate 9%
$308,444
$308.4K
Market Conditions
NOI Build-Up for 2,000 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
$43.2K $21.60/SF
− Vacancy
−$3.5K −$1.77/SF
EGI
$39.7K $19.83/SF
− OpEx
−$11.9K −$5.95/SF
NOI
$27.8K $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%
$555,200
Cap Rate 7%
$396,571
Cap Rate 9%
$308,444
Alternative Uses
Best Use
Retail
$396.6K
$347.0K – $462.7K
NOI $27,760 @ 7.0% cap · market cap 6.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$690.5K
$604.2K – $805.6K
NOI $48,336 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
685
Businesses Nearby
Explore this area
Business Placement
Demographics for 60165, IL
4,576
Population
1,364
Households
3.4
Avg Household Size
33
Median Age
8%
College-Educated
58%
High-School Grad
0.3 sq mi
ZIP Area
15,253
Density / Sq Mi
$75,165
Median Household Income
$34,744
Median Earnings
$1,222
Median Rent
$218,300
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?
Retail space - Turnkey commercial space with high visibility and modern amenities.
Where is this retail space located?
The property is located at 1544 N Mannheim Road Stone Park, IL.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: Prime location on a high‑traffic corridor with strong visibility and steady foot traffic.; Turnkey, extensively updated, and carefully maintained commercial space.; Approximately 2,000 square feet with a functional layout including 10 styling stations, 3 shampoo bowls, manicure/pedicure area, 2 restrooms, and a kitchen.
