Office-Configured Flex
For Sale
$550,000
1816 170th Street, Hazel Crest, IL 60429
Commercial Sale, Hazel Crest, IL
Property Size9,140 SF
Lot Size0.36 Acres
Price / SF$60.18
Days on Market265
Property Features for 1816 170th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Directions
North/South on Dixie Highway. Turn East on 170th St. The property is on the north side of the street
Subdivision
Hazel Crest
Standard status
Active
APN
29302190340000
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
52779
Utilities
Cooling system
Central Air
Building Details
Year built
1930
Floors in Building
2
Number of units
3
Listing Agency:
RE/MAX 10 · RE/MAX International
(708) 429-4300
Listed By:
Bruce La Ha · License #IL:475.102758
(708) 857-1500
Added: Feb 9
Changed: Oct 10
Last Checked: Nov 1 at 11:06AM
MLS# 12564740
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.
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Investment Insights
Based on property information with market context.
This flex space property includes substantial office-oriented improvements and central air. The building was previously used for physical therapy and medical purposes, providing a commercial configuration that can accommodate office or retail occupancy. The property includes 23 parking spaces, with additional on-street parking available.
Located on 170th Street in Hazel Crest, the property is near the Metra train service and the Creative Arts District, including the Creative Arts Center. The site is also close to the expressway and Wind Creek Casino. Zoning is designated COMMR, and the building dates to 1930.
Located on 170th Street in Hazel Crest, the property is near the Metra train service and the Creative Arts District, including the Creative Arts Center. The site is also close to the expressway and Wind Creek Casino. Zoning is designated COMMR, and the building dates to 1930.
Key Highlights
- Substantial office and flex space within a commercial building
- 23 on‑site parking spaces plus on‑street parking
- Central air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,345
Cap Rate
7.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$786,900
$786.9K
Cap Rate 7%
$562,071
$562.1K
Cap Rate 9%
$437,167
$437.2K
Market Conditions
NOI Build-Up for 9,140 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%
$786,900
Cap Rate 7%
$562,071
Cap Rate 9%
$437,167
Alternative Uses
Best Use
Office B
$1.80M
$1.58M – $2.10M
NOI $126,026 @ 7.0% cap · market cap 22.91%
Second Best
Healthcare Medical
$1.73M
$1.51M – $2.02M
NOI $121,087 @ 7.0% cap · market cap 22.02%
Theoretical Best
Office A
$3.16M
$2.76M – $3.68M
NOI $220,894 @ 7.0% cap · market cap 40.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
Open Analytics
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
Similar Off Market Nearby
- Jerk n Thangs — 16847 Bulger Ave, Hazel Crest, IL 60429
- Big Hen's Barbeque — 16600 dixie hwy, markham, il 60428
- Big Hen's Barbeque & Catering — 16600 Dixie Hwy, Markham, IL 60428
Frequently Asked Questions
What type of property is this?
Flex space - Central air serves a building with substantial office and flex space.
Where is this flex space located?
The property is located at 1816 170th Street 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: Substantial office and flex space within a commercial building; 23 on‑site parking spaces plus on‑street parking; Central air conditioning
