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    Prime Retail Space in Oak Forest Title is generated by Realmo AI

    4142 W 167th St, Oak Forest, IL 60452

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    Retail spaces available in high-traffic Oak Forest shopping center.

    Type:Retail
    Property size:
    25,000 SF
    Added:
    Aug 31, 2021
    Days on Market:
    1738
    Last Refresh:
    May 12 at 10:46 pm

    Property Features for 4142 W 167th St

    General Information

    Standard status
    Active
    Size
    25,000 SF
    Property subtype
    Retail

    Spaces For Lease

    at 4142 W 167th St Contact us

    1st Fl, Ste 11A $25/Mo

    Size
    868 SF
    Type
    Retail
    Rate: $ $25.00 /SF/YR /SF/YRnMinimum 1 YR lease term.
    Contact us

    1st Fl, Ste 11B $23/Mo

    Size
    1,200 SF
    Type
    Retail
    Rate: $ $23.00 /SF/YR /SF/YRnMinimum 1 YR lease term.
    Contact us

    1st Fl, Ste 6 $25/Mo

    Size
    1,670 SF
    Type
    Retail
    Rate: $25.00 /SF/YR /SF/YRnTriple Net (NNN)nMinimum 1 YR lease term.
    Contact us

    1st Fl, Ste 9 $25/Mo

    Size
    1,750 SF
    Type
    Retail
    Rate:$ $25.00 /SF/YR /SF/YRnTriple Net (NNN)nMinimum 1 YR lease term.
    Contact us

    We can help!

    Listing Contact
    Tuyen Nguyen

    Listing agent Tuyen Nguyen License #IL

    Listing office Chicago Real Estate Resources Inc

    Listing date Aug 31, 2021

    Source Crexi

    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 Chicago Real Estate Resources Inc

    HighLights

    • Prime retail space in a high‑traffic location directly across from Wal‑Mart and Lowes Cinemas.
    • High visibility on 167th Street at the intersection of 167th and Kilbourne.
    • Located in an area of explosive commercial growth between Country Club Hills and Oak Forest.
    • Existing tenants include Dunkin Donuts/Baskin Robins and Harold's Chicken.
    • Units ranging from 1500 SQFT to 1970 SQFT.
    • Favorable population demographics.

    Overview

    This property offers 25,000 square feet of retail space in a shopping center located across from a Wal-Mart and Lowes Cinemas. The center features superior construction and window frontage. Units range in size from 1,500 to 1,970 square feet. The property is home to a Dunkin Donuts/Baskin Robins store and Harold’s Chicken. Located on 167th Street in Oak Forest at the intersection of 167th and Kilbourne, the property benefits from high visibility and traffic counts. Current tenants include Boost Mobile, Bella Nails, Harold’s Chicken, Advanced Auto, Katie’s Gaming, Rose Liquor, El Burrito Rey, and Martini Bar. The location is situated in a commercial corridor experiencing growth between Country Club Hills and Oak Forest, with favorable population demographics. A minimum lease term of 1 year is required.
    Property Profile Location Intelligence

    Current Use by Public Records

    Chick N Wingz Restaurant A. Progeny Global Real Estate Agency SMOKE CITY - Vapes ... (Bike/Boat/Book/etc) Store Fisherman's Island Restaurant Ela'$ Wine N ... Hotel & Motel

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Country Club Plaza — 4201 167th St, Country Club Hills, IL 60478
    • Quick-Tag — Walmart Supercenter, 4005 167th St, Country Club Hills, IL 60478

    Location Insight

    • Map
    • Local Demand
    City
    Oak Forest
    County
    Cook
    State
    Illinois
    Longitude
    -87.7165697
    Latitude
    41.5868536

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    FAQs

    What type of property is this?
    Shopping center - Retail spaces available in high-traffic Oak Forest shopping center.
    Where is this shopping center located?
    The property is located at 4142 W 167th St Oak Forest, IL.
    What is the lease rate?
    The lease rate is $23 SF/Yr.
    What are key features of this property?
    This property features: Prime retail space in a high‑traffic location directly across from Wal‑Mart and Lowes Cinemas.; High visibility on 167th Street at the intersection of 167th and Kilbourne.; Located in an area of explosive commercial growth between Country Club Hills and Oak Forest.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Tuyen Nguyen
    Real Estate License ID: IL
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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