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Mixed-Use Investment Opportunity in Norridge

7701-7757 W Lawrence Avenue, Norridge, IL 60706

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For Sale

$4,900,000

COMMERCIAL - Norridge, IL

Property size:

21,000 SF

Lot size:

1.94 Acres

Price / SF:

$233/SF

HighLights

High‑performing mixed‑use investment property.
Portfolio includes 16 apartments and 8 retail units.
21,000 SF free‑standing retail building.
Strong cash flow with value‑add potential.
Ample on‑site parking.
15,000 SF main floor retail space with 6,000 SF basement.

We can help!

Listing Contact

Jason Bitton

For Sale

$4,900,000

COMMERCIAL - Norridge, IL

Property size:

21,000 SF

Lot size:

1.94 Acres

Price / SF:

$233/SF

Added:: May 23, 2023
Days on Market:: 1117
Last Refresh:: Jun 12 at 12:06 pm

Property Features for 7701-7757 W Lawrence Avenue

General Information

Property type: Commercial Sale
Property subtype: Other
Zoning: RTAIL
Standard status: Active
APN: 12131150170000
Size: 21,000 SF
Lot size: 1.94 Acres

Taxes and HOA fees

Tax Year: 2024
Tax Annual Amount: 129298

Utilities

Cooling system: Central Air

Building Details

Year built: 1960
Floors in Building: 2
Number of units: 25
Building materials: Brick

We can help!

Listing Contact

Jason Bitton

Listing agent Jason Bitton License #475170841

Listing office RE/MAX Suburban 1344 South Milwaukee Avenue, Mount Prospect, IL

Listing date May 23, 2023

MLS# 11791458

HighLights

High‑performing mixed‑use investment property.
Portfolio includes 16 apartments and 8 retail units.
21,000 SF free‑standing retail building.
Strong cash flow with value‑add potential.
Ample on‑site parking.
15,000 SF main floor retail space with 6,000 SF basement.

Overview

This is a mixed-use investment opportunity located in Norridge, Illinois. The portfolio consists of three buildings featuring a mix of residential and retail tenants. There are 16 apartments, including 8 two-bedroom and 8 one-bedroom units, along with 8 ground-floor retail units. Additionally, there is a 21,000 square foot free-standing retail building, with 15,000 square feet on the main floor and a 6,000 square foot basement featuring racking-height ceilings. The property includes ample on-site parking. The lot size is 1.938 acres.

Local Financial Insights For Mixed Use

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$630.0k	$30.00
− Vacancy	−$63.0k	−$3.00
EGI	$567.0k	$27.00
− OpEx	−$212.6k	−$10.13
NOI	$354.4k	$16.88

21,000 SF · lease $30.00/SF/yr · vacancy 10.00% · expense 37.50%

Alternative Uses

Best Use

Mixed Use

$5.06M

$4.43M – $5.91M (±1% cap)

NOI $354,375 @ 7.0% cap · market cap 7.23%

Second Best

Apartment 5plus

$4.60M

$4.02M – $5.37M (±1% cap)

NOI $321,912 @ 7.0% cap · market cap 6.57%

Theoretical Best

Office A

$9.90M

$8.66M – $11.55M (±1% cap)

NOI $693,101 @ 7.0% cap · market cap 14.14%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Retail space

Suggested Use

Location Insight

Map
Local Demand

City: Norridge
County: Cook
State: Illinois
Longitude: -87.8196856
Latitude: 41.9665705

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For sale
Mixed-use properties
IL
Norridge
60706
7701-7757 W Lawrence Avenue

What type of property is this?

Mixed-use property - High-performing mixed-use portfolio with residential and retail units.

Where is this mixed-use property located?

The property is located at 7701-7757 W Lawrence Avenue Norridge, IL.

What is the asking price?

The asking price for this property is $4,900,000.

What are key features of this property?

This property features: High‑performing mixed‑use investment property.; Portfolio includes 16 apartments and 8 retail units.; **21,000 SF free‑standing retail building.**

7701-7757 W Lawrence Avenue, Norridge, IL 60706

COMMERCIAL - Norridge, IL

Property Features for 7701-7757 W Lawrence Avenue

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Mixed Use

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Profitable Salon/Spa Business Opportunity

Norridge 5-Unit Brick Building

Norridge Multifamily Property for Sale

Harlem Avenue Retail Opportunity

Norridge Food Processing Facility

Versatile Industrial Building with Office

Mixed-Use Property with Retail Building

Norridge Mixed-Use Investment Portfolio

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