Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    15541 S Cicero Ave Oak Forest, IL 60452

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    New construction retail space available in a vibrant mixed-use development.

    Property Features for 15541 S Cicero Ave

    General Information

    Standard status
    Active

    Building Details

    Year built
    2025

    We can help!

    Listing Contact
    Brad Belden
    Brad Belden
    Source: Crexi

    Listing Agency: Colliers - Rosemont, Illinois Listing Agent: Brad Belden

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    New Retail Space in Oak Forest

    New construction retail space is available for lease, offering between 2,117 and 4,700 square feet, including an endcap with drive-thru potential. The property is part of a mixed-use development that includes newly built townhomes and over 300 residential apartments located both on-site and in the surrounding area. The location provides excellent visibility with over 100 feet of frontage on S. Cicero Avenue, which experiences over 25,400 vehicles per day. Tenants can benefit from ample signage opportunities and generous parking. The property is surrounded by a mix of national and local retailers, including restaurants, fuel stations, and retail centers. Located in Oak Forest, Illinois, the area features a mix of residential, commercial, and retail establishments. The location is a short drive from Chicago. Nearby points of interest include the Oak Forest Metra Station, dining options, and retail destinations. The area's mix of national retailers and local businesses makes it suitable for retail or street retail tenants looking to establish or expand their presence in the Chicago market.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Oak Forest
    County
    Cook
    State
    Illinois
    Longitude
    -87.7360083
    Latitude
    41.6090125

    Nearby Similar for Lease

    • Contact for pricing
      94,525 SF

      Oak Forest Commercial Facility For Lease

      10,000 Sq Ft building on 2+ acres for lease.
      5333 W 151St St, Oak Forest, IL 60452
      View Details
    • Contact for pricing
      94,525 SF

      Oak Forest Commercial Space Available

      10,000 sq ft building on 2+ acres for lease.
      5333 W 151St St, Oak Forest, IL 60452
      View Details
    • Contact for pricing
      94,525 SF

      Oak Forest Commercial Facility For Lease

      10,000 SF divisible building on 2+ acres for lease.
      5333 W 151St St, Oak Forest, IL 60452
      View Details
    • $18 SF/Yr

      Holistic Medical Suites Available

      Wellness-centered property with flexible, move-in-ready private suites.
      15000 Cicero Ave, Oak Forest, IL 60452
      View Details
    • Contact for pricing

      Oak Forest Commercial Property For Rent

      High-visibility commercial property with strong tenant mix in Oak Forest.
      15510 S Cicero Ave, Oak Forest, IL 60452
      View Details
    • Contact for pricing

      Versatile Building Ideal for Non-Profit

      10,000 SF building on 2 acres, perfect for non-profit.
      5333 151St St, Oak Forest, IL 60452
      View Details
    • Contact for pricing

      New Retail Space at Metra

      New construction retail space near Metra station in Oak Forest.
      15848 S Cicero Ave, Oak Forest, IL 60452
      View Details
    • $30 SF/Yr
      2,109 SF

      Retail Space on Cicero Avenue

      Retail space with high exposure near transportation and amenities.
      4800 157Th St, Oak Forest, IL 60452
      View Details
    • Contact for pricing

      Oak Forest Retail Complex

      Spacious retail complex in Oak Forest, customizable suites available.
      5544 147Th St, Oak Forest, IL 60452
      View Details
    • Contact for pricing
      1,610 SF

      Retail Space on Central Avenue

      Prime retail space with high visibility and traffic exposure.
      5560 159Th St, Oak Forest, IL 60452
      View Details
    • Contact for pricing

      Prime Retail Space in Oak Forest

      Retail spaces available in high-traffic Oak Forest shopping center.
      4142 W 167Th St, Oak Forest, IL 60452
      View Details

    FAQs

    What type of property is this?
    Retail space - New construction retail space available in a vibrant mixed-use development.
    Where is this retail space located?
    The property is located at 15541 S Cicero Ave Oak Forest, IL.
    What are key features of this property?
    This property features: - New construction retail space in a vibrant mixed-use development.; - High visibility with over 100 feet of frontage on S. Cicero Avenue (25,400+ VPD).; - Highly desirable endcap unit available with drive-thru capability.
    (847) 698-8232
    Request Owner's contact information
    15541 S Cicero Ave Oak Forest, IL 60452
    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.
    15541 S Cicero Ave
    Oak Forest, IL 60452
    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
    15541 S Cicero Ave Oak Forest, IL 60452
    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

    We can help!
    Listing Contact
    Brad Belden
    Brad Belden
    Real Estate License ID: 471018723
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!