Transit-Oriented Commercial
For Sale
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206 East 154th Street, Harvey, IL 60426
Vacant redevelopment site with an existing building and DB zoning across from the Harvey Metra Station.
Property Size2,869 SF
Price / SF$243.99
Days on Market112
Property Features for 206 East 154th Street
General Information
Standard status
Active
Size
2,869 SF
Property subtype
Land
Zoning
DB
Investment Type
Redevelopment
Building Details
Buildings
1
Listing Agency:
Matanky Realty Group
(312) 337-1001
Listed By:
Terri Cox · License #471.0003588
Source:
Crexi
Added: May 13
Changed: Aug 29
Last Checked: Sep 1 at 5:12AM
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 Matanky Realty Group
Investment Insights
Based on property information with market context.
This 0.29-acre vacant commercial land parcel includes a 2,869-square-foot former City Sports building. The property is zoned DB and offers a redevelopment setting suited to retail, medical, mixed-use, senior-focused, and service-oriented concepts identified in the property information.
The site is directly across from the Harvey Metra Station, which is part of a transit improvement project serving nearly 2,500 daily riders. Access to I-57 and I-294 adds regional connectivity. The property is approximately 2.5 miles from Amazon’s 855,000-square-foot fulfillment center in Markham and 0.2 miles from South Suburban Senior Housing, which reports a 1,500+ person waitlist.
The site is directly across from the Harvey Metra Station, which is part of a transit improvement project serving nearly 2,500 daily riders. Access to I-57 and I-294 adds regional connectivity. The property is approximately 2.5 miles from Amazon’s 855,000-square-foot fulfillment center in Markham and 0.2 miles from South Suburban Senior Housing, which reports a 1,500+ person waitlist.
Key Highlights
- 12,670 SF (0.29 AC) vacant commercial land parcel
- Includes a 2,869 SF former City Sports building
- DB zoning supports retail, medical, mixed‑use, senior‑focused, and service‑oriented redevelopment
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,822
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.69%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$796,440
$796.4K
Cap Rate 7%
$568,886
$568.9K
Cap Rate 9%
$442,467
$442.5K
Market Conditions
NOI Build-Up for 2,869 SF
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.
Gross rent
$62.0K $21.60/SF
− Vacancy
−$5.1K −$1.77/SF
EGI
$56.9K $19.83/SF
− OpEx
−$17.1K −$5.95/SF
NOI
$39.8K $13.88/SF
Area
Cook County, IL
Vacancy
8.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$796,440
Cap Rate 7%
$568,886
Cap Rate 9%
$442,467
Alternative Uses
Best Use
Retail
$568.9K
$497.8K – $663.7K
NOI $39,822 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$990.5K
$866.7K – $1.16M
NOI $69,337 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
714
Businesses Nearby
Explore this area
Business Placement
Demographics for 60426, IL
24,114
Population
10,870
Households
2.2
Avg Household Size
37
Median Age
10%
College-Educated
77%
High-School Grad
7.7 sq mi
ZIP Area
3,132
Density / Sq Mi
$40,995
Median Household Income
$29,712
Median Earnings
$987
Median Rent
$88,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Vacant redevelopment site with an existing building and DB zoning across from the Harvey Metra Station.
Where is this commercial land located?
The property is located at 206 East 154th Street Harvey, IL.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 12,670 SF (0.29 AC) vacant commercial land parcel; Includes a 2,869 SF former City Sports building; DB zoning supports retail, medical, mixed‑use, senior‑focused, and service‑oriented redevelopment
