Building Details

Building Size 8,875 SF

Year Built 2007

Stories 1

Listing Agency: Coldwell Banker Leader Realty

Listed By: Mark Ahmad · License #471007186 Show Phone

Source: Evrealestate

Added: Oct 22 Changed: Oct 25 Last Checked: Oct 25 at 2:43AM

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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 Coldwell Banker Leader Realty

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Investment Insights

Based on property information with market context.

This strip mall at 503-515 W 153 Street in Phoenix, Illinois, was built in 2007 and has central air. The property is zoned COMMR.

Key Highlights

• Strip mall at 503‑515 W 153 Street, Phoenix, IL 60426
• Built in 2007
• Central air conditioning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$123,186

Cap Rate

8.44%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,463,720 $2.5M

Cap Rate 7%

$1,759,800 $1.8M

Cap Rate 9%

$1,368,733 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,875 SF

Gross rent

$191.7K $21.60/SF

− Vacancy

−$15.7K −$1.77/SF

EGI

$176.0K $19.83/SF

− OpEx

−$52.8K −$5.95/SF

NOI

$123.2K $13.88/SF

Area

Cook County, IL

Vacancy

8.20%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,463,720

Cap Rate 7%

$1,759,800

Cap Rate 9%

$1,368,733

Alternative Uses

Best Use

Retail

$1.76M

$1.54M – $2.05M (±1% cap)

NOI $123,186 @ 7.0% cap · market cap 8.44%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$3.06M

$2.68M – $3.57M (±1% cap)

NOI $214,489 @ 7.0% cap · market cap 14.70%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Strip malls

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Big Box & Wholesale Store Building Supply Pharmacy

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

Location Intelligence

Trade Area within ½ mile

411

Businesses Nearby

Explore this area Business Placement

Demographics for 60426, IL

24,114

Population

10,870

Households

2.2

Avg Household Size

37

Median Age

10%

College-Educated

77%

High-School Grad

7.7 sq mi

ZIP Area

3,132

Density / Sq Mi

$40,995

Median Household Income

$29,712

Median Earnings

$987

Median Rent

$88,500

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Strip mall - The property has COMMR zoning and dates to 2007.

Where is this strip mall located?

The property is located at 503-515 W 153 Street Phoenix, IL.

What is the asking price?

The asking price for this property is $1,459,000.

What are key features of this property?

This property features: Strip mall at 503‑515 W 153 Street, Phoenix, IL 60426; Built in 2007; Central air conditioning