Auto Service Shop With Car
For Sale
$949,500
Pending
2920 159th Street, Markham, IL 60428
Commercial Sale, Markham, IL
Property Size5,400 SF
Lot Size0.63 Acres
Days on Market749
Property Features for 2920 159th Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Directions
Between 294 and Kedzie on 159th St.
Subdivision
Markham
Standard status
Pending
APN
28133290310000
Lot size
0.63 Acres
Taxes and HOA fees
Tax Year
2022
Tax Annual Amount
84799
Utilities
Cooling system
Central Air
Amenities
offices
bathrooms
ceramic tile flooring
car lifts
garage doors
Building Details
Year built
1990
Floors in Building
1
Listing Agency:
RE/MAX 10 in the Park · RE/MAX International
(708) 923-0900
Listed By:
Paul Tabor · License #475148012
(708) 857-1500
Added: Aug 12, 2024
Changed: Aug 20
Last Checked: Aug 30 at 4:06PM
MLS# 12136478
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.
Investment Insights
Based on property information with market context.
This 5,400-square-foot commercial building is currently operating as a used car dealership and includes five offices, two bathrooms with ceramic tile flooring, four car lifts, and six garage doors. Central air provides cooling throughout the property, which was built in 1990.
The site occupies a hard corner at 2920 159th Street in Markham, Illinois, with reported daily traffic exceeding 30,000 vehicles. I-294, I-80, and I-57 are minutes away, supporting access for customers, staff, and vehicle movements. Amazon employees are located down the street.
The existing configuration combines office, service, and vehicle-handling areas within one commercial property. The source information also identifies fuel station, restaurant, car wash, drive-through fast food, and coffee shop concepts as potential uses, subject to applicable approvals.
The site occupies a hard corner at 2920 159th Street in Markham, Illinois, with reported daily traffic exceeding 30,000 vehicles. I-294, I-80, and I-57 are minutes away, supporting access for customers, staff, and vehicle movements. Amazon employees are located down the street.
The existing configuration combines office, service, and vehicle-handling areas within one commercial property. The source information also identifies fuel station, restaurant, car wash, drive-through fast food, and coffee shop concepts as potential uses, subject to applicable approvals.
Key Highlights
- 5,400‑square‑foot building with five offices and two bathrooms
- Four car lifts and six garage doors support vehicle‑service operations
- Hard‑corner site with reported traffic exceeding 30,000 vehicles daily
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
$74,953
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
7.89%
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%
$1,499,060
$1.5M
Cap Rate 7%
$1,070,757
$1.1M
Cap Rate 9%
$832,811
$832.8K
Market Conditions
NOI Build-Up for 5,400 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
$116.6K $21.60/SF
− Vacancy
−$9.6K −$1.77/SF
EGI
$107.1K $19.83/SF
− OpEx
−$32.1K −$5.95/SF
NOI
$75.0K $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%
$1,499,060
Cap Rate 7%
$1,070,757
Cap Rate 9%
$832,811
Alternative Uses
Best Use
Retail
$1.07M
$936.9K – $1.25M
NOI $74,953 @ 7.0% cap · market cap 7.89%
Second Best
Industrial
$332.1K
$290.6K – $387.4K
NOI $23,245 @ 7.0% cap · market cap 2.45%
Theoretical Best
Office A
$1.86M
$1.63M – $2.18M
NOI $130,506 @ 7.0% cap · market cap 13.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Service bays
30,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60428, IL
11,351
Population
4,138
Households
2.7
Avg Household Size
36
Median Age
16%
College-Educated
87%
High-School Grad
5.1 sq mi
ZIP Area
2,226
Density / Sq Mi
$53,059
Median Household Income
$39,861
Median Earnings
$1,686
Median Rent
$118,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Richard's Road Services — 16147 Kedzie Pkwy, Markham, IL 60428
- Michael Tolbert Mechanic on Wheels — 16011 Spaulding Ave, Markham, IL 60428
- Velasquez Mufflers and Brakes — 16021 Kedzie Ave, Markham, IL 60428
- PMsystems Auto Care
- Rite price tire shop and Mobile tires — Mobile Tires, 3500 W 159th St #24hr, Markham, IL 60429
Frequently Asked Questions
What type of property is this?
Auto shop - Hard-corner commercial property with central air, administrative offices, and vehicle-service infrastructure.
Where is this auto shop located?
The property is located at 2920 159th Street Markham, IL.
What is the asking price?
The asking price for this property is $949,500.
What are key features of this property?
This property features: 5,400‑square‑foot building with five offices and two bathrooms; Four car lifts and six garage doors support vehicle‑service operations; Hard‑corner site with reported traffic exceeding 30,000 vehicles daily
