Freestanding Car Wash
For Sale
Contact for pricing
7737 S Kedzie Ave, Chicago, IL 60652
C1-1-zoned property with heated workspace, customer area, and truck-accessible overhead doors.
Property Size4,912 SF
Price / SF$111.97
Days on Market9
Property Features for 7737 S Kedzie Ave
General Information
Standard status
Active
Size
4,912 SF
Class
C
Total Parking Spaces
5
Property subtype
Special Purpose
Zoning
C1-1
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
1955
Year Renovated
2021
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Chicago Real Estate Resources Inc
Listed By:
Eric Janssen · License #IL 471011639
(773) 327-9300
Source:
Crexi
Added: Aug 26
Changed: Aug 31
Last Checked: Sep 3 at 3:15AM
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 Chicago Real Estate Resources Inc
Investment Insights
Based on property information with market context.
This 4,912-square-foot freestanding property at 7737 S Kedzie Ave includes approximately 500 square feet of finished office and customer space alongside roughly 4,400 square feet of open workspace. Ceiling clearance ranges from approximately 13 feet to 18 feet, and two newer drive-in overhead doors provide approximately 10 feet of clearance for truck access. The work area is heated, with an employee restroom and shower, electric water heater, floor drains, and an oil/water separator. Five rear parking spaces serve the building, while natural stone finishes enhance the customer waiting area and restroom.
The property is located in Chicago’s Ashburn neighborhood and carries C1-1 zoning. The sale is for the real estate only; the operating car wash and detail business is offered separately, and business equipment and trade fixtures will be removed if the real estate is acquired without the business. Permanent building improvements remain in place. Buyers should verify zoning, permits, and intended-use suitability.
The property is located in Chicago’s Ashburn neighborhood and carries C1-1 zoning. The sale is for the real estate only; the operating car wash and detail business is offered separately, and business equipment and trade fixtures will be removed if the real estate is acquired without the business. Permanent building improvements remain in place. Buyers should verify zoning, permits, and intended-use suitability.
Key Highlights
- 4,912 SF freestanding building on S Kedzie Ave in Chicago’s Ashburn neighborhood
- Approximately 4,400 SF of open workspace plus approximately 500 SF of finished office/customer area
- Two drive‑in overhead doors provide approximately 10' of clearance
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
$30,803
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
5.60%
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%
$616,060
$616.1K
Cap Rate 7%
$440,043
$440.0K
Cap Rate 9%
$342,256
$342.3K
Market Conditions
NOI Build-Up for 4,912 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
$46.3K $9.43/SF
− Vacancy
−$2.3K −$0.47/SF
EGI
$44.0K $8.96/SF
− OpEx
−$13.2K −$2.69/SF
NOI
$30.8K $6.27/SF
Area
Chicago, IL
Vacancy
5.00%
Lease Rate
$9.43 /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%
$616,060
Cap Rate 7%
$440,043
Cap Rate 9%
$342,256
Alternative Uses
Best Use
Specialty Retail
$1.31M
$1.14M – $1.52M
NOI $91,422 @ 7.0% cap · market cap 16.62%
Second Best
Retail
$970.8K
$849.5K – $1.13M
NOI $67,957 @ 7.0% cap · market cap 12.36%
Theoretical Best
Office A
$2.32M
$2.03M – $2.70M
NOI $162,120 @ 7.0% cap · market cap 29.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
391
Businesses Nearby
Explore this area
Business Placement
Demographics for 60652, IL
40,898
Population
13,709
Households
3
Avg Household Size
37
Median Age
22%
College-Educated
81%
High-School Grad
4.8 sq mi
ZIP Area
8,520
Density / Sq Mi
$78,559
Median Household Income
$36,488
Median Earnings
$1,208
Median Rent
$235,000
Median Home Value
Market
Vacancy Rate% for Industrial in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Car wash - C1-1-zoned property with heated workspace, customer area, and truck-accessible overhead doors.
Where is this car wash located?
The property is located at 7737 S Kedzie Ave Chicago, IL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 4,912 SF freestanding building on S Kedzie Ave in Chicago’s Ashburn neighborhood; Approximately 4,400 SF of open workspace plus approximately 500 SF of finished office/customer area; Two drive‑in overhead doors provide approximately 10' of clearance
