Restaurant Property with Central
For Sale
$1,500,000
https //www.evrealestate.com/en/properties/our-listings/Undisclosed-Address-Tinley%20Park-IL-60477-MRED-12420603, Tinley Park, IL 60477
Cook County restaurant property with central air conditioning and an established physical presence.
Property Size7,850 SF
Days on Market349
Property Features for https //www.evrealestate.com/en/properties/our-listings/Undisclosed-Address-Tinley%20Park-IL-60477-MRED-12420603
General Information
Standard status
Active
Size
7,850 SF
Zoning
COMMR
Taxes and HOA fees
Annual Taxes
$43,685
Amenities
Central Air
Building Details
Building Size
7,850 SF
Year Built
1900
Stories
3
Listing Agency:
Coldwell Banker Realty
Listed By:
Mark Wright · License #475182410
(708) 612-2782
Source:
Evrealestate
Added: Sep 20, 2025
Changed: Sep 2
Last Checked: Sep 2 at 3:29PM
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 Realty
Investment Insights
Based on property information with market context.
This restaurant property at 6811 Hickory Street in Tinley Park, Illinois, includes central air conditioning and was built in 1900. The asset is situated in Cook County and is reached from Harlem Ave via 175th St. to Oak Park Ave, continuing south to the restaurant.
Key Highlights
- Central air conditioning
- Built in 1900
- 6811 Hickory Street, Tinley Park, IL 60477
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
$131,409
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
8.76%
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%
$2,628,180
$2.6M
Cap Rate 7%
$1,877,271
$1.9M
Cap Rate 9%
$1,460,100
$1.5M
Market Conditions
NOI Build-Up for 7,850 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
$188.4K $24.00/SF
− Vacancy
−$13.2K −$1.68/SF
EGI
$175.2K $22.32/SF
− OpEx
−$43.8K −$5.58/SF
NOI
$131.4K $16.74/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,628,180
Cap Rate 7%
$1,877,271
Cap Rate 9%
$1,460,100
Alternative Uses
Best Use
Specialty Retail
$1.88M
$1.64M – $2.19M
NOI $131,409 @ 7.0% cap · market cap 8.76%
Second Best
Industrial
$482.7K
$422.4K – $563.2K
NOI $33,792 @ 7.0% cap · market cap 2.25%
Theoretical Best
Office A
$2.71M
$2.37M – $3.16M
NOI $189,717 @ 7.0% cap · market cap 12.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
574
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60477, IL
37,335
Population
16,261
Households
2.3
Avg Household Size
43
Median Age
34%
College-Educated
95%
High-School Grad
14.2 sq mi
ZIP Area
2,629
Density / Sq Mi
$93,862
Median Household Income
$57,381
Median Earnings
$1,485
Median Rent
$262,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Cook County restaurant property with central air conditioning and an established physical presence.
Where is this conventional restaurant located?
The property is located at https //www.evrealestate.com/en/properties/our-listings/Undisclosed-Address-Tinley%20Park-IL-60477-MRED-12420603 Tinley Park, IL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Central air conditioning; Built in 1900; 6811 Hickory Street, Tinley Park, IL 60477
