Flex Space with Office
For Sale
$550,000
1816 170th St, Hazel Crest, IL 60429
Substantial office and flex space supports a range of commercial layouts, including divisible configurations.
Property Size9,140 SF
Price / SF$60.20
Days on Market58
Property Features for 1816 170th St
General Information
Standard status
Active
Size
9,140 SF
Total Parking Spaces
23
Site & Location
Highway Access
Yes
Public Transit
Yes
Building Details
Year Built
1930
Buildings
1
Building Size
9,140 SF
Listing Agency:
RE/MAX 10
Listed By:
Bruce La Ha · License #IL:475.102758
(708) 828-1090
Source:
Realtopiare
Added: Aug 17
Changed: Oct 9
Last Checked: Oct 7 at 4:49PM
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 RE/MAX 10
Investment Insights
Based on property information with market context.
This flex property includes substantial office space and was previously used for physical therapy and medical purposes. The building offers divisible configurations of 1,315, 2,061, 3,376, 5,764, and 7,825 square feet, with the largest stated configuration at 9,136 square feet. The property was built in 1930 and includes 23 parking spaces, along with additional on-street parking.
The site is near Metra train service and Hazel Crest’s Creative Arts District, an area associated with facade revitalizations, a new lawn area, local markets, and outdoor concerts. It is also close to the expressway and Wind Creek Casino. The property address is 1816 170th St, Hazel Crest, IL 60429.
The site is near Metra train service and Hazel Crest’s Creative Arts District, an area associated with facade revitalizations, a new lawn area, local markets, and outdoor concerts. It is also close to the expressway and Wind Creek Casino. The property address is 1816 170th St, Hazel Crest, IL 60429.
Key Highlights
- Divisible configurations include 1,315, 2,061, 3,376, 5,764, and 7,825 square feet
- Largest stated configuration is 9,136 square feet
- 23 on‑site parking spaces plus on‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,327
Cap Rate
7.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$786,540
$786.5K
Cap Rate 7%
$561,814
$561.8K
Cap Rate 9%
$436,967
$437.0K
Market Conditions
NOI Build-Up for 9,136 SF
Gross rent
$59.2K $6.48/SF
− Vacancy
−$3.0K −$0.33/SF
EGI
$56.2K $6.15/SF
− OpEx
−$16.9K −$1.84/SF
NOI
$39.3K $4.30/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$786,540
Cap Rate 7%
$561,814
Cap Rate 9%
$436,967
Alternative Uses
Best Use
Office B
$1.80M
$1.57M – $2.10M
NOI $125,970 @ 7.0% cap · market cap 22.90%
Second Best
Healthcare Medical
$1.73M
$1.51M – $2.02M
NOI $121,034 @ 7.0% cap · market cap 22.01%
Theoretical Best
Office A
$3.15M
$2.76M – $3.68M
NOI $220,797 @ 7.0% cap · market cap 40.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
307
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60429, IL
14,683
Population
5,969
Households
2.5
Avg Household Size
39
Median Age
24%
College-Educated
92%
High-School Grad
4.1 sq mi
ZIP Area
3,581
Density / Sq Mi
$62,231
Median Household Income
$43,120
Median Earnings
$1,440
Median Rent
$180,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Substantial office and flex space supports a range of commercial layouts, including divisible configurations.
Where is this flex space located?
The property is located at 1816 170th St Hazel Crest, IL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Divisible configurations include 1,315, 2,061, 3,376, 5,764, and 7,825 square feet; Largest stated configuration is 9,136 square feet; 23 on‑site parking spaces plus on‑street parking
