Former Bank with Off-Street
379 South River Road, Des Plaines, IL 60016
Former bank location with off-street parking near O’Hare Airport.
Type:Retail
Property size:
2,500 SFPrice / SF:
$316/SF- Added:
- Jan 27, 2026
- Days on Market:
- 110
- Last Refresh:
- Apr 5 at 8:48 pm
Property Features for 379 South River Road
General Information
- Standard status
- Active
- Size
- 2,500 SF
- Property subtype
- Retail
Listing agent Jerry Sullivan (773) 714-2092
Listing office DarwinPW Realty/CORFAC International (773) 714-2092
Listing date Jan 27, 2026
Source Darwinpw
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 DarwinPW Realty/CORFAC International
HighLights
- High‑traffic location at the intersection of River Road and Rand Road.
- Off‑street parking available.
- Located near O’Hare International Airport.
- Corner lot with signalized intersection.
- High daily vehicle count: 17,800 on River Road and 25,500 on Rand Road.
- Well‑maintained property.
Overview
This former bank location offers off-street parking, which is a notable advantage in an area where many businesses rely on public transportation. The property is situated on a corner lot at the signalized intersection of River Road and Rand Road, benefiting from high visibility and traffic. Located near O’Hare International Airport, the facility is surrounded by numerous single and multi-family homes. The property is well-maintained and positioned in a high-traffic commercial zone near O'Hare Airport and I-294, an established suburban business district characterized by national retail chains and significant daily vehicle counts. Traffic counts show 17,800 vehicles per day on River Road and 25,500 vehicles per day on Rand Road. Additionally, the property is located near two separate rail stops: the Heritage Corridor (3.2 miles away) and the Southwest service (5.5 miles away). The property size is 2,500 square feet.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$465.0K
NOI $41,850 @ 9.00% cap · cautious / downside scenario
Moderate
$597.9K
NOI $41,850 @ 7.00% cap · market / base-case scenario
Aggressive
$837.0K
NOI $41,850 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.0k | $24.00 |
| − Vacancy | −$4.2k | −$1.68 |
| EGI | $55.8k | $22.32 |
| − OpEx | −$14.0k | −$5.58 |
| NOI | $41.9k | $16.74 |
2,500 SF · lease $24.00/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$597.9K
$523.1K – $697.5K
NOI $41,850 @ 7.0% cap · market cap 5.30%
Second Best
Retail
$495.7K
$433.8K – $578.3K
NOI $34,700 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$863.1K
$755.3K – $1.01M
NOI $60,420 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Byline Bank
Bank
Location Insight
- Map
- Local Demand
- City
- Des Plaines
- County
- Cook
- State
- Illinois
- Longitude
- -87.8847
- Latitude
- 42.0463
Nearby Similar for Sale
FAQs
What type of property is this?
Bank - Former bank location with off-street parking near O’Hare Airport.
Where is this bank located?
The property is located at 379 South River Road Des Plaines, IL.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: High‑traffic location at the intersection of River Road and Rand Road.; Off‑street parking available.; Located near O’Hare International Airport.
