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

    17702 Oak Park Ave Tinley Park, IL 60477

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

    Well-maintained 4,083 SF building on 12,253 SF lot.

    Property size:
    4,083 SF
    Lot size:
    4,083.00 Acres

    Property Features for 17702 Oak Park Ave

    General Information

    Standard status
    Active
    Zoning
    NG
    Size
    4,083 SF
    Lot size
    4,083.00 Acres

    Building Details

    Year built
    1956

    We can help!

    Listing Contact
    Mike Levin
    Source: Crexi

    Listing Agency: @properties Commercial Listing Agent: Mike Levin

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

    Learn more

    Overview

    Freestanding Retail Building in Tinley Park

    This freestanding masonry commercial retail building is located in Tinley Park, IL. The 4,083 square foot building sits on a 12,253 square foot land site with 97 feet of frontage along Oak Park Avenue. Currently configured as a retail dry cleaners and tuxedo rental operation, the building is well maintained and features high-security entrance doors and cameras. The first floor includes an open reception area, a dry cleaning area and plant, two bathrooms, one utility room, and two storage rooms. The south half of the building is a retail tuxedo fitting and alteration area. A large front and side parking lot provides parking for 20 cars. The property also features a landscaped side lot that could be redeveloped for parking or expanded with an additional building. The building utilizes a 200+ amp electric system and has a clean Phase one EPA report. The zoning is NG Neighborhood General Legacy District Zoning. Approximately 8,000 cars pass this location daily on Oak Park Avenue. The property is ideal for a variety of commercial uses, including office, retail, professional use, law firm, insurance, technology, financial trading, real estate, or accounting office. Alternatively, the parcel can be redeveloped.
    Location Intelligence

    Current Use by Public Records

    Norman's Cleaners & Tuxedo ... (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Similar Places Nearby

    Everlistic, An English Garden Wedding & Event Floral, Heathers Haus Florist

    Location Insight

    • Map
    • Local Demand
    City
    Tinley Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.7845509
    Latitude
    41.5692566

    Nearby Similar for Sale

    • $150,000

      Boba Tea Shop Assets

      Fully equipped boba tea shop assets for sale.
      15945 Harlem Ave, Tinley Park, IL 60477
      View Details
    • $45,000
      1,600 SF

      Tinley Park Office Center Opportunity

      Lower-level office space suitable for professional or flex use.
      7060 Centennial Dr, Tinley Park, IL 60477
      View Details
    • New
      $159,900

      Versatile Office Condo in Tinley

      Office condo for sale, ideal for various business uses.
      17710 Oak Park Ave, Tinley Park, IL 60477
      View Details
    • Contact for pricing

      Tinley Park Commercial Building For Sale

      5,004 SF building on 1.21 acres near Metra.
      17865 South 80Th Ave, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      90,643 SF

      Multi-Use Flex Building Opportunity

      90,000+ SF flex building on 7.42 acres available for sale.
      8101 W 183Rd St, Tinley Park, IL 60487
      View Details
    • $264,000

      Updated Condo in 55+ Building

      Move-in ready, updated 2-bedroom, 2-bath condo in Tinley Park.
      6320 Pine Ridge Dr, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      5,795 SF

      Restaurant Building on High-Traffic Corner

      5,795 SF restaurant on 1.9 acres near I-80.
      7200 W 191St St, Tinley Park, IL 60487
      View Details
    • Contact for pricing

      Industrial Property in Tinley Park

      Industrial property available for sale in Tinley Park, Illinois.
      18531 Spring Creek Dr, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      14,820 SF

      Tinley Park Walgreens For Sale

      NNN leased Walgreens with over 7 years remaining on primary lease.
      8400 171St St, Tinley Park, IL 60487
      View Details
    • Contact for pricing
      5,004 SF

      Tinley Park Commercial Building For Sale

      5,004 SF building near Metra station on 1.21 acres.
      17865 S 80Th Ave, Tinley Park, IL 60477
      View Details
    • Contact for pricing

      Redevelopment Site in Tinley Park

      Office condo deconversion to multi-family or mixed-use redevelopment site.
      17704 Oak Park Ave, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      12,161 SF

      Retail Space on Heavily Traveled Road

      Retail space available on a heavily traveled road.
      7101-7125 183Rd St, Tinley Park, IL 60477
      View Details

    FAQs

    What type of property is this?
    Storefront property - Well-maintained 4,083 SF building on 12,253 SF lot.
    Where is this storefront property located?
    The property is located at 17702 Oak Park Ave Tinley Park, IL.
    What are key features of this property?
    This property features: - Freestanding 4,083 SQ FT Commercial Retail Building in Tinley Park.; - Large Front and Side Parking Lot with 20 Car Capacity.; - High-Traffic Location: 8,000 Vehicles Per Day (VPD) on Oak Park.
    Request Owner's contact information
    17702 Oak Park Ave Tinley Park, IL 60477
    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.
    17702 Oak Park Ave
    Tinley Park, IL 60477
    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
    17702 Oak Park Ave Tinley Park, IL 60477
    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
    Mike Levin
    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!