Five-Unit Storefront
For Sale
$990,000
7133-7143 W Higgins Avenue, Chicago, IL 60656
Brick construction with street parking and a 20-car lot behind the building.
Property Size6,000 SF
Days on Market117
Property Features for 7133-7143 W Higgins Avenue
General Information
Standard status
Active
Size
6,000 SF
Total Parking Spaces
20
Property subtype
Commercial
Zoning
COMMR
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$29,219
Building Details
Building Size
6,000 SF
Year Built
1956
Stories
1
Units
5
Construction
brick
Tenancy
Multi
Listing Agency:
Sebastian Co. Real Estate
(847) 823-3117
Listed By:
Donald Sebastian · License #475128823
(847) 823-3117
Source:
Perillorealestategroup
Added: Apr 15
Changed: Aug 5
Last Checked: Aug 8 at 12:21PM
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 Sebastian Co. Real Estate
Investment Insights
Based on property information with market context.
Built in 1956, this brick five-unit storefront property occupies a commercial position on Chicago’s Northwest side. The building offers street parking along Higgins Avenue and a rear parking lot with capacity for 20 cars.
Transportation access includes bus service, the EL train, routes 90 and 294, and proximity to O’Hare. Downtown Chicago is 12 miles away. The property is zoned COMMR and is located at 7133-7143 W Higgins Avenue.
Transportation access includes bus service, the EL train, routes 90 and 294, and proximity to O’Hare. Downtown Chicago is 12 miles away. The property is zoned COMMR and is located at 7133-7143 W Higgins Avenue.
Key Highlights
- Five‑unit brick storefront property built in 1956
- 20‑car parking lot behind the building
- Street parking available along Higgins Avenue
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
$83,009
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
8.38%
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%
$1,660,180
$1.7M
Cap Rate 7%
$1,185,843
$1.2M
Cap Rate 9%
$922,322
$922.3K
Market Conditions
NOI Build-Up for 6,000 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
$129.6K $21.60/SF
− Vacancy
−$11.0K −$1.84/SF
EGI
$118.6K $19.76/SF
− OpEx
−$35.6K −$5.93/SF
NOI
$83.0K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
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%
$1,660,180
Cap Rate 7%
$1,185,843
Cap Rate 9%
$922,322
Alternative Uses
Best Use
Retail
$1.19M
$1.04M – $1.38M
NOI $83,009 @ 7.0% cap · market cap 8.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.83M
$2.48M – $3.30M
NOI $198,029 @ 7.0% cap · market cap 20.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,666
Businesses Nearby
212k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 36%
Dining 31%
Groceries 28%
Home Improvements & Furnishings 3%
Jewel-Osco
Groceries
53,010 visits/mo
0.4 miles
Starbucks
Dining
23,759 visits/mo
0.3 miles
Wendy's
Dining
21,640 visits/mo
0.1 miles
Dollar Tree
Shops & Services
21,611 visits/mo
0.1 miles
Shell
Shops & Services
16,273 visits/mo
0.1 miles
Demographics for 60656, IL
28,474
Population
12,840
Households
2.2
Avg Household Size
40
Median Age
42%
College-Educated
92%
High-School Grad
3.2 sq mi
ZIP Area
8,898
Density / Sq Mi
$88,000
Median Household Income
$54,639
Median Earnings
$1,388
Median Rent
$344,400
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Similar Off Market Nearby
- Evangelista Floral and Landscape Studio — 5000 N Rutherford Ave, Chicago, IL 60656
- Water Lily Flower Shop — 7150 W Higgins Ave, Chicago, IL 60656
Frequently Asked Questions
What type of property is this?
Storefront property - Brick construction with street parking and a 20-car lot behind the building.
Where is this storefront property located?
The property is located at 7133-7143 W Higgins Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Five‑unit brick storefront property built in 1956; 20‑car parking lot behind the building; Street parking available along Higgins Avenue
