Auto Shop with Vehicle
For Sale
$890,000
2100 S WASHTENAW Avenue, Chicago, IL 60608
Established automotive layout includes office space, repair equipment, tools, and dedicated vehicle areas.
Property Size2,973 SF
Price / SF$299.36
Days on Market10
Property Features for 2100 S WASHTENAW Avenue
General Information
Standard status
Active
Size
2,973 SF
Total Parking Spaces
12
Property subtype
COMMERCIAL
Additional Details
Service Bays
6
Taxes and HOA fees
Annual Taxes
$10,451
Building Details
Building Size
2,973 SF
Listing Agency:
Urbanitas Inc.
(773) 257-7000
Listed By:
Hildebrando Torres
Source:
Dawnmckennagroup
Added: Aug 11
Changed: Aug 18
Last Checked: Aug 19 at 3:39PM
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 Urbanitas Inc.
Investment Insights
Based on property information with market context.
This auto shop property includes an indoor area accommodating 6 cars, along with 12 outdoor spaces for additional vehicles. The improvements also include office space, mechanic machinery, and tools, providing a physical setup for automotive repair operations.
Located at 2100 S Washtenaw Avenue in Chicago, Illinois, the property combines the shop, equipment, tools, and vehicle areas in one offering. The configuration supports automotive service use with both enclosed and exterior vehicle capacity.
Located at 2100 S Washtenaw Avenue in Chicago, Illinois, the property combines the shop, equipment, tools, and vehicle areas in one offering. The configuration supports automotive service use with both enclosed and exterior vehicle capacity.
Key Highlights
- Indoor space accommodates 6 cars
- 12 outdoor vehicle spaces
- Office space included
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
$41,131
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
4.62%
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%
$822,620
$822.6K
Cap Rate 7%
$587,586
$587.6K
Cap Rate 9%
$457,011
$457.0K
Market Conditions
NOI Build-Up for 2,973 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
$64.2K $21.60/SF
− Vacancy
−$5.5K −$1.84/SF
EGI
$58.8K $19.76/SF
− OpEx
−$17.6K −$5.93/SF
NOI
$41.1K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
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%
$822,620
Cap Rate 7%
$587,586
Cap Rate 9%
$457,011
Alternative Uses
Best Use
Retail
$587.6K
$514.1K – $685.5K
NOI $41,131 @ 7.0% cap · market cap 4.62%
Second Best
Industrial
$266.3K
$233.1K – $310.7K
NOI $18,644 @ 7.0% cap · market cap 2.09%
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,123 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Service bays
Location Intelligence
Trade Area within ½ mile
2,249
Businesses Nearby
100k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Dining 40%
Electronics 2%
Dollar Tree
Shops & Services
29,998 visits/mo
0.4 miles
Church's Chicken
Dining
13,470 visits/mo
0.2 miles
Little Caesars Pizza
Dining
13,456 visits/mo
0.3 miles
BP
Shops & Services
13,154 visits/mo
0.5 miles
Burger King
Dining
11,075 visits/mo
0.4 miles
Demographics for 60608, IL
75,770
Population
32,617
Households
2.3
Avg Household Size
34
Median Age
34%
College-Educated
77%
High-School Grad
6.2 sq mi
ZIP Area
12,221
Density / Sq Mi
$70,704
Median Household Income
$42,211
Median Earnings
$1,208
Median Rent
$341,500
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Similar Off Market Nearby
- Mandu's Auto Service — 2551 S Spaulding Ave, Chicago, IL 60623
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- 26th Street Swift Car Care — 3246 W 26th St, Chicago, IL 60623
- Semi Tires Jumpstart Road Side Service — 2522 S Spaulding Ave, Chicago, IL 60623
Frequently Asked Questions
What type of property is this?
Auto shop - Established automotive layout includes office space, repair equipment, tools, and dedicated vehicle areas.
Where is this auto shop located?
The property is located at 2100 S WASHTENAW Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: Indoor space accommodates 6 cars; 12 outdoor vehicle spaces; Office space included
