Mixed-Use Property with Retail
For Sale
Contact for pricing
6000 W 159th Street, Oak Forest, IL 60452
Mixed-use asset with four retail storefronts, a 2-bedroom coach home, four garages, and additional yard space.
Property Size7,063 SF
Price / SF$237.15
Days on Market134
Property Features for 6000 W 159th Street
General Information
Standard status
Active
Size
7,063 SF
Total Parking Spaces
4
Property subtype
Mixed Use, Retail
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$118,050
Additional Details
Outdoor Storage
Yes
Multifamily Units
1
Building Details
Year Built
1975
Buildings
1
Stories
1
Units
32
Tenancy
Multi
Listing Agency:
Ellsbury Group
Listed By:
Tariq Suboh · License #RB20000815
(219) 805-5200
Source:
Crexi
Added: Apr 28
Changed: Sep 7
Last Checked: Sep 7 at 7:07AM
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 Ellsbury Group
Investment Insights
Based on property information with market context.
Ellsbury Group presents a mixed-use investment property in Oak Forest, featuring four large retail storefronts and a spacious 2-bedroom coach home. The property also includes four garages and additional yard space, creating multiple income-producing components within a single, well-maintained asset.
Set in the heart of Oak Forest, the retail portion benefits from a high-visibility corridor with strong traffic counts and convenient access to major roadways. The surrounding area includes nearby shopping, dining, and established residential neighborhoods, supporting day-to-day demand for both the commercial and residential components.
Overall, the configuration provides diversified income streams across the storefronts and the coach home, with on-site parking through the included garages and room for outdoor use through the added yard space.
Set in the heart of Oak Forest, the retail portion benefits from a high-visibility corridor with strong traffic counts and convenient access to major roadways. The surrounding area includes nearby shopping, dining, and established residential neighborhoods, supporting day-to-day demand for both the commercial and residential components.
Overall, the configuration provides diversified income streams across the storefronts and the coach home, with on-site parking through the included garages and room for outdoor use through the added yard space.
Key Highlights
- Mixed‑use property with four large retail storefronts
- Includes a spacious 2‑bedroom coach home
- Four garages plus additional yard space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$98,036
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,960,720
$2.0M
Cap Rate 7%
$1,400,514
$1.4M
Cap Rate 9%
$1,089,289
$1.1M
Market Conditions
NOI Build-Up for 7,063 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$152.6K $21.60/SF
− Vacancy
−$12.5K −$1.77/SF
EGI
$140.1K $19.83/SF
− OpEx
−$42.0K −$5.95/SF
NOI
$98.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,960,720
Cap Rate 7%
$1,400,514
Cap Rate 9%
$1,089,289
Alternative Uses
Best Use
Retail
$1.40M
$1.23M – $1.63M
NOI $98,036 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$1.17M
$1.02M – $1.37M
NOI $81,937 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$2.44M
$2.13M – $2.84M
NOI $170,697 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
413
Businesses Nearby
52k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 96%
Dining 3%
Shops & Services 1%
Jewel-Osco
Groceries
49,949 visits/mo
0.5 miles
SUBWAY
Dining
1,821 visits/mo
0.1 miles
Gerber Collision & Glass
Shops & Services
377 visits/mo
0.2 miles
Demographics for 60452, IL
27,363
Population
10,557
Households
2.6
Avg Household Size
40
Median Age
30%
College-Educated
92%
High-School Grad
8.6 sq mi
ZIP Area
3,182
Density / Sq Mi
$89,167
Median Household Income
$47,519
Median Earnings
$1,287
Median Rent
$249,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Vacha's Forest Flowers — 6260 W 159th St, Oak Forest, IL 60452
Frequently Asked Questions
What type of property is this?
Storefront property - Mixed-use asset with four retail storefronts, a 2-bedroom coach home, four garages, and additional yard space.
Where is this storefront property located?
The property is located at 6000 W 159th Street Oak Forest, IL.
What is the asking price?
The asking price for this property is $1,675,000.
What are key features of this property?
This property features: Mixed‑use property with four large retail storefronts; Includes a spacious 2‑bedroom coach home; Four garages plus additional yard space
