Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space Anchored by Pete's Title is generated by Realmo AI

    4233 Lincoln Highway, Matteson, IL 60443

    View on Map
    Claim this Listing
    For Lease
    $18 SF/Yr

    Retail space available in Matteson Plaza Shopping Center.

    Type:Commercial
    Added:
    Apr 23, 2024
    Days on Market:
    774
    Last Refresh:
    Apr 5 at 11:37 pm

    Property Features for 4233 Lincoln Highway

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    We can help!

    Listing Contact
    NICOLE GEROULIS
    NICOLE GEROULIS

    Listing agent NICOLE GEROULIS License #471018069

    Listing office AXIS REALTY, INC.

    Listing date Apr 23, 2024

    Source Corcoran

    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 AXIS REALTY, INC.

    HighLights

    • Anchored by Pete's Fresh Market
    • Located at the southwest corner of Lincoln Highway (Rt 30) and Pulaski Road
    • High traffic counts of approximately 60,000 cars per day
    • Many long‑term co‑tenants
    • Located in Matteson Plaza
    • Corner location

    Overview

    Matteson Plaza offers retail spaces for rent, anchored by Pete's Fresh Market, alongside numerous long-term co-tenants. The property is situated at the southwest corner of Lincoln Highway (Route 30) and Pulaski Road in Matteson, Illinois. This location benefits from high traffic volume, with approximately 60,000 cars passing the intersection daily.
    Location Intelligence

    Current Use by Public Records

    Kaiser Brothers Electricians Electrical Service Pete's Fresh Market ... Specialty Food Shop Fernando J. Garcia, ... Pharmacy

    Suggested Use

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

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

    Similar Places Nearby

    • Matteson Plaza — 4233 211th St, Matteson, IL 60443
    • Lincoln — 208 Lincoln Mall Dr, Matteson, IL 60443
    • Matteson,IL Rose Plaza Mall — 4712 211th St, Matteson, IL 60443
    • Lincoln Mall — 208 Lincoln Mall Dr, Matteson, IL 60443
    • Dollar Tree — 4340 Lincoln Hwy, Matteson, IL 60443

    Location Insight

    • Map
    • Local Demand
    City
    Matteson
    County
    Cook
    State
    Illinois
    Longitude
    -87.7173
    Latitude
    41.5053

    Nearby Similar for Lease

    • $17 SF/Yr
      2,500 SF

      Matteson Retail/Commercial Space Available

      2,500 SF retail/commercial space on high-traffic Lincoln Hwy.
      4451B Lincoln Highway, Matteson, IL 60443
      View Details
    • $24 SF/Yr
      1,000 SF

      Retail Space on Lincoln Highway

      Inline retail space with build-out potential on a major corridor.
      4445 Lincoln Highway, Matteson, IL 60443
      View Details
    • $23 SF/Yr
      1,300 SF

      Retail Space on Lincoln Highway

      1,300 SF retail space available in Matteson, Illinois.
      4453 Lincoln Highway, Matteson, IL 60443
      View Details
    • Contact for pricing

      Retail Space in Matteson Center

      Retail space available in a fully leased shopping center.
      4806 211th Street | Matteson, IL 60443
      View Details
    • $10 SF/Yr

      Retail Space Near Pete's Market

      Retail space available in Matteson Plaza near major intersection.
      4147 Lincoln Highway, Matteson, IL 60443
      View Details
    • Contact for pricing
      3,600 SF

      Restaurant Endcap with Patio Available

      3,600 SF restaurant endcap near Lincoln Hwy and Cicero Ave.
      4800 Lincoln Hwy, Matteson, IL 60443
      View Details
    • Contact for pricing
      4,382 SF

      Matteson Office Space Available

      Office space for rent in Matteson, Illinois.
      4807 Town Center Rd, Matteson, IL
      View Details
    • Contact for pricing
      9,188 SF

      Retail Space on Lincoln Highway

      Retail space with excellent frontage and visibility available for lease.
      4012-4330 211th St, Matteson, IL
      View Details
    • Contact for pricing

      Double Drive-Thru Retail Opportunity

      Double drive-thru building in mixed-use development with ample parking.
      4605 W Lincoln Hwy, Matteson, IL 60443
      View Details
    • $18 SF/Yr

      Class-A Office and Medical Building

      Class-A office and medical building for lease in Matteson, Illinois.
      4747 Lincoln Hwy, Matteson, IL 60443
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space on Lincoln Highway

      Retail space with excellent frontage and visibility on Lincoln Highway.
      4300 211th St, Matteson, IL
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space available in Matteson Plaza Shopping Center.
    Where is this shopping center located?
    The property is located at 4233 Lincoln Highway Matteson, IL.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: Anchored by Pete's Fresh Market; Located at the southwest corner of Lincoln Highway (Rt 30) and Pulaski Road; High traffic counts of approximately 60,000 cars per day
    (773) 594-0003
    We can help!
    Listing Contact
    NICOLE GEROULIS
    NICOLE GEROULIS
    Real Estate License ID: 471018069
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    4233 Lincoln Highway, Matteson, IL 60443
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!