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    Retail Strip Center in Monee Title is generated by Realmo AI

    5601-5689 W Monee Manhattan Road, Monee, IL 60449

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    For Lease
    $16 SF/Yr $2,666/Mo (calc)

    Retail strip center with spaces for restaurant and commercial uses.

    Type:Retail
    Property size:
    2,000 SF
    Added:
    May 19, 2026
    Days on Market:
    10
    Last Refresh:
    May 19 at 2:54 am

    Property Features for 5601-5689 W Monee Manhattan Road

    General Information

    Standard status
    Active
    Size
    2,000 SF
    Property subtype
    Retail

    Spaces For Lease

    at 5601-5689 W Monee Manhattan Road Contact us

    We can help!

    Listing Contact
    Karen Kulczycki, CCIM, SIOR

    Listing agent Karen Kulczycki, CCIM, SIOR License #IL #471020279

    Listing office

    Listing date May 19, 2026

    Source Svnchicago

    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 Karen Kulczycki, CCIM, SIOR

    HighLights

    • Easy access to Interstate 57 (less than a mile away).
    • Located at a signalized intersection with high visibility and 383' frontage on Monee Manhattan Rd.
    • Two units available: ±1,000 SF (restaurant‑ready with hood, walk‑in cooler, triple sink) and ±2,000 SF (vanilla box).
    • Pylon signage available.
    • Join established tenants: Old National Bank, Fitness Premier, and Athletico Physical Therapy, among others.
    • Plenty of parking available.

    Overview

    Monee Crossing, a retail strip center located at 5601-5689 W. Monee Manhattan Road in Monee, IL, offers spaces for lease. The center has a total area of approximately 23,173 square feet. Two units are currently available: a 1,000-square-foot space equipped with a hood, walk-in cooler, and triple sink, suitable for a restaurant, and a 2,000-square-foot suite to be delivered as a vanilla box for various commercial uses. The property features pylon signage, ample parking, and a signalized intersection. It has high visibility with 383 feet of frontage on Monee Manhattan Road and easy access to Interstate 57, which is less than a mile away. The property is located within the Will County Enterprise Zone. Current tenants include Old National Bank, Fitness Premier, Massage Works, Athletico Physical Therapy, Will County Health Department, and Theresa Boggs, DDS. The property is commercially zoned for various uses.
    Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Monee
    County
    Will
    State
    Illinois
    Longitude
    -87.748348
    Latitude
    41.42643

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    FAQs

    What type of property is this?
    Strip mall - Retail strip center with spaces for restaurant and commercial uses.
    Where is this strip mall located?
    The property is located at 5601-5689 W Monee Manhattan Road Monee, IL.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: Easy access to Interstate 57 (less than a mile away).; Located at a signalized intersection with high visibility and 383' frontage on Monee Manhattan Rd.; Two units available: **±1,000 SF (restaurant‑ready with hood, walk‑in cooler, triple sink) and ±2,000 SF (vanilla box).**
    (630) 330-3352
    We can help!
    Listing Contact
    Karen Kulczycki, CCIM, SIOR
    Real Estate License ID: IL #471020279
    Learn More
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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.

    More about this property
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    5601-5689 W. Monee Manhattan Road, Monee, IL 60449
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