Freshly Renovated Restaurant
15929 South Harlem Avenue Tinley Park, IL 60477
New
15929 South Harlem Avenue, Tinley Park, IL, 60477
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For Sale
Contact for pricing
Freshly renovated restaurant space operating Middle Eastern cuisine with ample parking and plenty of seating in a shopping center.
Property Size2,000 SF
Price / SF$200
Days on Market7
Property Features for 15929 South Harlem Avenue
General Information
- Standard status
- Active
- Size
- 2,000 SF
- Property subtype
- Retail, Business for Sale
Listing agency
SVN Chicago Commercial
(708) 267-9988
Listed by
Derek Gonsch · License #IL 475.192105
Source
Crexi
Added: Jul 16 Updated: Jul 22 at 1:14AM Checked: Jul 22 at 1:14AM
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 SVN Chicago Commercial
Investment Insights
Based on property information with market context.
This restaurant space is being offered for sale and is currently operating as a Middle Eastern cuisine restaurant. The interior has been freshly renovated from top to bottom, and a full list of included equipment is available in the brochure. The layout is designed for customer seating and convenience.
The property is located in a shopping center on the southeast corner of the 159th/Harlem intersection, with frontage on busy Harlem Ave.
As presented, this is a turn-key restaurant offering within a retail center setting, supported by ample parking for customer access and plenty of seating room for dining service.
The property is located in a shopping center on the southeast corner of the 159th/Harlem intersection, with frontage on busy Harlem Ave.
As presented, this is a turn-key restaurant offering within a retail center setting, supported by ample parking for customer access and plenty of seating room for dining service.
Key Highlights
- Freshly renovated restaurant space currently operating Middle Eastern cuisine
- Located in the shopping center at the southeast corner of 159th/Harlem intersection
- On busy Harlem Ave
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.0k | $24.00 |
| − Vacancy | −$3.4k | −$1.68 |
| EGI | $44.6k | $22.32 |
| − OpEx | −$11.2k | −$5.58 |
| NOI | $33.5k | $16.74 |
2,000 SF · lease $24.00/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$478.3K
$418.5K – $558.0K
NOI $33,480 @ 7.0% cap · market cap 8.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$690.5K
$604.2K – $805.6K
NOI $48,336 @ 7.0% cap · market cap 12.08%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Freshly renovated restaurant space operating Middle Eastern cuisine with ample parking and plenty of seating in a shopping center.
Where is this conventional restaurant located?
The property is located at 15929 South Harlem Avenue Tinley Park, IL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Freshly renovated restaurant space currently operating Middle Eastern cuisine; Located in the shopping center at the southeast corner of 159th/Harlem intersection; On busy Harlem Ave
