Renovated Two-Unit Storefront
For Sale
$600,000
7361 North Avenue, River Forest, IL 60305
Single-story commercial building with two adjoining leased storefronts and on-site parking.
Property Size3,200 SF
Lot Size0.14 Acres
Price / SF$187.50
Days on Market233
Property Features for 7361 North Avenue
General Information
Standard status
Active
Size
3,200 SF
Total Parking Spaces
8
Lot size
0.14 Acres
Property subtype
COMMERCIAL
Zoning
R1
Additional Details
Traffic Count
30,000 vehicles/day
Taxes and HOA fees
Annual Taxes
$25,218
Building Details
Building Size
3,200 SF
Year Built
1953
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Parkvue Realty Corporation 312-788-4040 Overview Additional information MLS R ID 12531607 Interior features Bedrooms 0 Cooling Yes Exterior features Lot Size 0.14 Acres Other property details Taxes $25,218 Tax Frequency Annually Association Fee Frequency Yearly Coldwell Banker Dawn McKenna Group Request a tour Contact agent Request a tour Contact agent Listed by Anthony Disano with Parkvue Realty Corporation 312-788-4040
Listed By:
Anthony Disano · License #471010606
(312) 788-4040
Source:
Dawnmckennagroup
Added: Feb 24
Changed: Oct 9
Last Checked: Oct 15 at 7:46AM
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 Parkvue Realty Corporation 312-788-4040 Overview Additional information MLS R ID 12531607 Interior features Bedrooms 0 Cooling Yes Exterior features Lot Size 0.14 Acres Other property details Taxes $25,218 Tax Frequency Annually Association Fee Frequency Yearly Coldwell Banker Dawn McKenna Group Request a tour Contact agent Request a tour Contact agent Listed by Anthony Disano with Parkvue Realty Corporation 312-788-4040
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Investment Insights
Based on property information with market context.
This single-story storefront property combines two renovated adjoining commercial units totaling approximately 3,200 square feet. The approximately 2,200-square-foot space at 7361 North Ave is occupied by a chiropractor, while the approximately 1,000-square-foot space at 7363 serves as a fitness studio. Both suites are leased to long-term tenants, providing an established commercial configuration for continued occupancy.
The property sits on a 5,900-square-foot lot measuring 50 by 118 feet and includes an 8-car parking lot. Its North Avenue position, identified as IL-64, provides exposure to a roadway carrying roughly 30,000 vehicles per day. The building was constructed in 1953 and is zoned R1. The source information also identifies potential continued use for retail, service, office, or owner-operator purposes.
The property sits on a 5,900-square-foot lot measuring 50 by 118 feet and includes an 8-car parking lot. Its North Avenue position, identified as IL-64, provides exposure to a roadway carrying roughly 30,000 vehicles per day. The building was constructed in 1953 and is zoned R1. The source information also identifies potential continued use for retail, service, office, or owner-operator purposes.
Key Highlights
- Two renovated adjoining storefronts totaling approximately 3,200 SF
- Leased to long‑term chiropractor and fitness studio tenants
- Approximately 2,200 SF at 7361 North Ave and 1,000 SF at 7363
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,417
Cap Rate
7.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$888,340
$888.3K
Cap Rate 7%
$634,529
$634.5K
Cap Rate 9%
$493,522
$493.5K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$69.1K $21.60/SF
− Vacancy
−$5.7K −$1.77/SF
EGI
$63.5K $19.83/SF
− OpEx
−$19.0K −$5.95/SF
NOI
$44.4K $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 Rate 5%
$888,340
Cap Rate 7%
$634,529
Cap Rate 9%
$493,522
Alternative Uses
Best Use
Retail
$634.5K
$555.2K – $740.3K
NOI $44,417 @ 7.0% cap · market cap 7.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$966.7K – $1.29M
NOI $77,337 @ 7.0% cap · market cap 12.89%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
30,000 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,467
Businesses Nearby
164k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 44%
Dining 29%
Groceries 26%
Home Improvements & Furnishings 1%
Binny's Beverage Depot
Groceries
26,723 visits/mo
0.1 miles
Shell
Shops & Services
22,349 visits/mo
0.2 miles
Fresh Thyme Market
Groceries
15,930 visits/mo
0.2 miles
BP
Shops & Services
15,773 visits/mo
0.4 miles
Starbucks
Dining
13,420 visits/mo
0.3 miles
Demographics for 60305, IL
11,710
Population
4,494
Households
2.6
Avg Household Size
40
Median Age
73%
College-Educated
97%
High-School Grad
2.5 sq mi
ZIP Area
4,684
Density / Sq Mi
$148,711
Median Household Income
$83,347
Median Earnings
$1,411
Median Rent
$676,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Storefront property - Single-story commercial building with two adjoining leased storefronts and on-site parking.
Where is this storefront property located?
The property is located at 7361 North Avenue River Forest, IL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two renovated adjoining storefronts totaling approximately 3,200 SF; Leased to long‑term chiropractor and fitness studio tenants; Approximately 2,200 SF at 7361 North Ave and 1,000 SF at 7363
