8-Store Brick Strip
New
For Sale
$1,459,000
503-515 W 153 Street, Phoenix, IL 60426
Commercial Sale, Phoenix, IL
Property Size9,000 SF
Lot Size0.53 Acres
Price / SF$162.11
Days on Market4
Property Features for 503-515 W 153 Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
COMMR
Directions
159th St./-Rt 6-Halsted St. -153rd St. Vincennes Rd. IL- 1 Halsted St. to 153rd St.
Subdivision
Phoenix
Standard status
Active
APN
29161210010000
Lot size
0.53 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
39730
Utilities
Cooling system
Central Air
Building Details
Year built
2007
Floors in Building
1
Number of units
8
Building materials
Brick
Listing Agency:
Century 21 Circle · Coldwell Banker Real Estate
(773) 465-4200
Listed By:
Mark Ahmad
(312) 513-4490
Added: Oct 22
Changed: Oct 23
Last Checked: Oct 25 at 4:06AM
MLS# 12791613
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This brick retail plaza contains eight storefronts occupied by five tenants. The property was built in 2007 and has central air conditioning and on-site parking. It sits on a 0.528-acre parcel at 503-515 W 153 Street in Phoenix, Illinois.
The site is positioned at the corner of W 153 Street and Halsted Street. The center is fully leased, with five tenants across its eight storefronts.
The site is positioned at the corner of W 153 Street and Halsted Street. The center is fully leased, with five tenants across its eight storefronts.
Key Highlights
- Eight storefronts leased to five tenants; fully occupied
- 0.528‑acre parcel at 503‑515 W 153 Street, Phoenix, IL
- Built in 2007 with brick construction and central air
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$124,921
Cap Rate
8.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,498,420
$2.5M
Cap Rate 7%
$1,784,586
$1.8M
Cap Rate 9%
$1,388,011
$1.4M
Market Conditions
NOI Build-Up for 9,000 SF
Gross rent
$194.4K $21.60/SF
− Vacancy
−$15.9K −$1.77/SF
EGI
$178.5K $19.83/SF
− OpEx
−$53.5K −$5.95/SF
NOI
$124.9K $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%
$2,498,420
Cap Rate 7%
$1,784,586
Cap Rate 9%
$1,388,011
Alternative Uses
Best Use
Retail
$1.78M
$1.56M – $2.08M
NOI $124,921 @ 7.0% cap · market cap 8.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.11M
$2.72M – $3.63M
NOI $217,510 @ 7.0% cap · market cap 14.91%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
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
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View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Strip mall - A fully occupied retail center offers multiple storefronts and on-site parking at a Phoenix intersection.
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: Eight storefronts leased to five tenants; fully occupied; 0.528‑acre parcel at 503‑515 W 153 Street, Phoenix, IL; Built in 2007 with brick construction and central air
