Renovated Freestanding Net-Leased
For Sale
Contact for pricing
7120 W 159th St, Orland Park, IL 60462
Net-leased investment featuring freestanding buildings with triple-net terms and renovations completed from 2020 through 2024.
Property Size12,455 SF
Price / SF$215.98
Days on Market368
Property Features for 7120 W 159th St
General Information
Standard status
Active
Size
12,455 SF
Property subtype
RETAIL
Listing Agency:
Network Commercial Real Estate
(708) 873-5540
Listed By:
Neil Haleem · License #37077037778HN
(708) 927-8000
Source:
Moodyscre
Added: Sep 11, 2025
Changed: Sep 6
Last Checked: Sep 13 at 5:03AM
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 Network Commercial Real Estate
Investment Insights
Based on property information with market context.
This offering is a net-leased investment featuring freestanding buildings under triple-net leases described as having minimal landlord responsibility. The package includes multiple properties with renovations completed in 2020, 2021, and 2024.
Specific addresses called out in the remarks are 8734 S Stony Island, 7120 W 159th St, and 1001 W Roosevelt Rd, with each noted as renovated in the corresponding year.
For investors or buyers looking for a stabilized, net-leased structure, this portfolio is presented as a straightforward collection of freestanding assets with documented renovation timelines.
Specific addresses called out in the remarks are 8734 S Stony Island, 7120 W 159th St, and 1001 W Roosevelt Rd, with each noted as renovated in the corresponding year.
For investors or buyers looking for a stabilized, net-leased structure, this portfolio is presented as a straightforward collection of freestanding assets with documented renovation timelines.
Key Highlights
- Net‑leased investment with freestanding buildings on triple‑net (NNN) leases and minimal landlord responsibility
- 8734 S Stony Island building renovated in 2020
- 7120 W 159th St building renovated in 2021
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
$172,877
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
6.43%
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%
$3,457,540
$3.5M
Cap Rate 7%
$2,469,671
$2.5M
Cap Rate 9%
$1,920,856
$1.9M
Market Conditions
NOI Build-Up for 12,455 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
$269.0K $21.60/SF
− Vacancy
−$22.1K −$1.77/SF
EGI
$247.0K $19.83/SF
− OpEx
−$74.1K −$5.95/SF
NOI
$172.9K $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 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%
$3,457,540
Cap Rate 7%
$2,469,671
Cap Rate 9%
$1,920,856
Alternative Uses
Best Use
Retail
$2.47M
$2.16M – $2.88M
NOI $172,877 @ 7.0% cap · market cap 6.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.30M
$3.76M – $5.02M
NOI $301,010 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,100
Businesses Nearby
382k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Home Improvements & Furnishings 26%
Shops & Services 16%
Groceries 16%
Menards
Home Improvements & Furnishings
58,369 visits/mo
0.4 miles
Meijer
Groceries
50,246 visits/mo
0.1 miles
The Home Depot
Home Improvements & Furnishings
42,100 visits/mo
0.2 miles
Cooper's Hawk Winery & Restaurant
Dining
30,109 visits/mo
0.2 miles
Delta Sonic Car Wash
Shops & Services
23,978 visits/mo
0.3 miles
Demographics for 60462, IL
40,539
Population
17,335
Households
2.3
Avg Household Size
45
Median Age
45%
College-Educated
94%
High-School Grad
16.0 sq mi
ZIP Area
2,534
Density / Sq Mi
$96,747
Median Household Income
$52,902
Median Earnings
$1,393
Median Rent
$330,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
NNN property - Net-leased investment featuring freestanding buildings with triple-net terms and renovations completed from 2020 through 2024.
Where is this nnn property located?
The property is located at 7120 W 159th St Orland Park, IL.
What is the asking price?
The asking price for this property is $2,690,000.
What are key features of this property?
This property features: Net‑leased investment with freestanding buildings on triple‑net (NNN) leases and minimal landlord responsibility; 8734 S Stony Island building renovated in 2020; 7120 W 159th St building renovated in 2021
