Medical Office Building with
For Sale
Contact for pricing
6871 171st Street, Tinley Park, IL 60477
Zoned OFFIC with a professional layout that includes private offices, reception space, work area, and a lunchroom.
Property Size1,700 SF
Price / SF$250
Days on Market15
Property Features for 6871 171st Street
General Information
Standard status
Active
Size
1,700 SF
Total Parking Spaces
14
Property subtype
Office
Zoning
OFFIC
Additional Details
Furnished
Yes
Building Details
Year Built
1974
Buildings
1
Units
1
Building Size
1,700 SF
Listing Agency:
RE/MAX 1st Service
(708) 403-6000
Listed By:
John Schober · License #475139223
Source:
Crexi
Added: Aug 16
Changed: Aug 30
Last Checked: Aug 30 at 8:05AM
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 RE/MAX 1st Service
Investment Insights
Based on property information with market context.
This 1,700-square-foot medical office building at 6871 171st Street features four private offices, a waiting room, a central work area, and a lunchroom. Office furniture is also available to the buyer if needed. The property was built in 1974 and includes 14 parking spaces that have been re-sealed and striped.
Building systems include a furnace and A/C unit installed about 5 years ago, a hot water heater that is 3 years old, and a roof approximately 6 to 7 years old. The property carries OFFIC zoning and is located in Tinley Park, Illinois. Showings are available by appointment, and the sale includes the building only.
Building systems include a furnace and A/C unit installed about 5 years ago, a hot water heater that is 3 years old, and a roof approximately 6 to 7 years old. The property carries OFFIC zoning and is located in Tinley Park, Illinois. Showings are available by appointment, and the sale includes the building only.
Key Highlights
- 1,700‑square‑foot medical office building in Tinley Park
- Four private offices, waiting room, main work area, and lunchroom
- OFFIC zoning
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
$23,440
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
5.52%
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%
$468,800
$468.8K
Cap Rate 7%
$334,857
$334.9K
Cap Rate 9%
$260,444
$260.4K
Market Conditions
NOI Build-Up for 1,700 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
$41.6K $24.48/SF
− Vacancy
−$10.4K −$6.10/SF
EGI
$31.3K $18.38/SF
− OpEx
−$7.8K −$4.60/SF
NOI
$23.4K $13.79/SF
Area
Cook County, IL
Vacancy
24.90%
Lease Rate
$24.48 /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%
$468,800
Cap Rate 7%
$334,857
Cap Rate 9%
$260,444
Alternative Uses
Best Use
Office B
$334.9K
$293.0K – $390.7K
NOI $23,440 @ 7.0% cap · market cap 5.52%
Second Best
Healthcare Medical
$321.7K
$281.5K – $375.4K
NOI $22,522 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$586.9K
$513.6K – $684.8K
NOI $41,085 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
918
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 Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Family Pet Clinic — 17151 S Harlem Ave, Tinley Park, IL 60477
- Dr. Jeffrey Valenti — 17151 S Harlem Ave, Tinley Park, IL 60477
- Avenue Animal Hospital — 16736 Oak Park Ave, Tinley Park, IL 60477
Frequently Asked Questions
What type of property is this?
Medical Office Space - Zoned OFFIC with a professional layout that includes private offices, reception space, work area, and a lunchroom.
Where is this medical office space located?
The property is located at 6871 171st Street Tinley Park, IL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 1,700‑square‑foot medical office building in Tinley Park; Four private offices, waiting room, main work area, and lunchroom; OFFIC zoning
