Markham Retail Outlot For
2941 W 159th St Markham, IL 60428
2941 W 159th St, Markham, IL, 60428
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For Sale
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Retail property in a high-traffic location with drive-thru availability.
Property Size2,832 SF
Price / SF$282.49
Days on Market1105
Property Features for 2941 W 159th St
General Information
- Standard status
- Active
- Size
- 2,832 SF
- Property subtype
- Retail
Listing Agency
Ascend Real Estate Advisors
Listed by
Vladimir Ganz · License #INNN
Source
Crexi
Added: Jul 13, 2023 Updated: Jul 10 at 3:43 pm Checked: Jul 19 at 3:39 am
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 Ascend Real Estate Advisors
Investment Insights
Based on property information with market context.
The subject property is a 2,832 square foot retail space located in Markham, IL, at the hard corner intersection of Kedzie Avenue and 159th Street. This location is central to accessing neighboring communities via Interstates I-57 and I-294. Situated as an outlot in front of a 265,000 square foot shopping center, the property benefits from high visibility and is surrounded by other retail businesses. The intersection sees over 40,000 vehicles per day. The area includes residential dwellings, contributing to consistent through traffic to adjacent communities from the main highways. A drive-thru is available at this property, potentially suiting a variety of retail uses.
Key Highlights
- High‑traffic location at the main intersection of Markham (Kedzie Ave and 159th Street) with over 40,000 vehicles per day.
- Located at a hard corner, offering high visibility.
- Drive‑thru available.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $61.2k | $21.60 |
| − Vacancy | −$5.0k | −$1.77 |
| EGI | $56.2k | $19.83 |
| − OpEx | −$16.8k | −$5.95 |
| NOI | $39.3k | $13.88 |
2,832 SF · lease $21.60/SF/yr · vacancy 8.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$561.6K
$491.4K – $655.2K
NOI $39,309 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$977.8K
$855.5K – $1.14M
NOI $68,443 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail properties & Spaces
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FAQs
What type of property is this?
Retail property - Retail property in a high-traffic location with drive-thru availability.
Where is this retail property located?
The property is located at 2941 W 159th St Markham, IL.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: High‑traffic location at the main intersection of Markham (Kedzie Ave and 159th Street) with over 40,000 vehicles per day.; Located at a hard corner, offering **high visibility**.; **Drive‑thru available**.
