Building Details

Building Size 2,900 SF

Buildings 1

Listing Agency: RE/MAX

Listed By: Jason Bitton · License #475170841 Show Phone

Source: Remaxcommercial

Added: Oct 5 Changed: Oct 6 Last Checked: Oct 6 at 2:51AM

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Investment Insights

Based on property information with market context.

This freestanding auto shop contains 2,900 square feet and is vacant. Its existing configuration is for auto repair, providing a clear starting point for a new occupant considering automotive service operations.

At 4185 North Elston Avenue in Chicago, the property is in the Irving Park area. I-90/94 access and CTA bus routes serve the vicinity, where automotive businesses, retail uses, and residential areas are part of the surrounding mix.

Key Highlights

• 2,900‑square‑foot freestanding auto shop
• Vacant building configured for auto repair
• 4185 North Elston Avenue in Chicago’s Irving Park area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,790

Cap Rate

4.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$815,800 $815.8K

Cap Rate 7%

$582,714 $582.7K

Cap Rate 9%

$453,222 $453.2K

Market Conditions

NOI Build-Up for 2,900 SF

Gross rent

$63.7K $21.96/SF

− Vacancy

−$5.4K −$1.87/SF

EGI

$58.3K $20.09/SF

− OpEx

−$17.5K −$6.03/SF

NOI

$40.8K $14.07/SF

Area

ZIP 60618

Vacancy

8.50%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$815,800

Cap Rate 7%

$582,714

Cap Rate 9%

$453,222

Alternative Uses

Best Use

Retail

$582.7K

$509.9K – $679.8K (±1% cap)

NOI $40,790 @ 7.0% cap · market cap 4.08%

Second Best

Industrial

$176.5K

$154.4K – $205.9K (±1% cap)

NOI $12,352 @ 7.0% cap · market cap 1.24%

Theoretical Best

Office A

$1.27M

$1.11M – $1.48M (±1% cap)

NOI $88,695 @ 7.0% cap · market cap 8.87%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Xpert Auto Repair Auto Repair Shop Xpert Auto Service Auto Repair Shop Speedy Towings & Auto ... Corporate Office

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Skin Care Clinic Nursing Home Law Firm Locksmith Bed & Breakfast

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

2,035

Businesses Nearby

91k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 51% Shops & Services 49%

McDonald's Dining

28,693 visits/mo 0.4 miles

Dollar Tree Shops & Services

18,539 visits/mo 0.4 miles

Wendy's Dining

15,143 visits/mo 0.3 miles

BP Shops & Services

13,204 visits/mo 0.2 miles

7-Eleven Shops & Services

8,070 visits/mo 0.3 miles

Demographics for 60618, IL

90,316

Population

41,053

Households

2.2

Avg Household Size

35

Median Age

55%

College-Educated

89%

High-School Grad

5.0 sq mi

ZIP Area

18,063

Density / Sq Mi

$101,558

Median Household Income

$60,263

Median Earnings

$1,534

Median Rent

$538,300

Median Home Value

Market

Vacancy Rate% for Retail in Chicago, IL

9.1% 2019

9.2% 2020

8.8% 2021

8.1% 2022

7% 2023

6.6% 2024

7.4% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties What are key features of this property?

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Similar Off Market Nearby

• Grace Automotive — 3756 N Pulaski Rd, Chicago, IL 60641
• Bridgestone — 3650 N Elston Ave, Chicago, IL 60618
• Firestone Complete Auto Care — 3650 N Elston Ave, Chicago, IL 60618
• American & Foreign Car Services — 3866 N Elston Ave, Chicago, IL 60618
• Autohause Motor Werks Ltd — 3801 N Elston Ave, Chicago, IL 60618

Frequently Asked Questions

What type of property is this?

Auto shop - Vacant premises retain an automotive-service configuration for a new occupant.

Where is this auto shop located?

The property is located at 4185 North Elston Avenue Chicago, IL.

What is the asking price?

The asking price for this property is $1,000,000.

What are key features of this property?

This property features: 2,900‑square‑foot freestanding auto shop; Vacant building configured for auto repair; 4185 North Elston Avenue in Chicago’s Irving Park area