Freestanding Auto
New
For Sale
$550,000
7737 S KEDZIE Avenue, Chicago, IL 60652
COMMERCIAL - Chicago, IL
Property Size5,000 SF
Lot Size0.14 Acres
Price / SF$110
Days on Market6
Property Features for 7737 S KEDZIE Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
COMMR
Directions
79th Street to Kedzie, North on Kedzie to 7737-39
Subdivision
CHI - Ashburn
Standard status
Active
APN
19253170150000
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
24208
Utilities
Utilities
Natural Gas Available
Amenities
new two 10' overhead doors
employee bath with shower
electric water heater
heated garage
Building Details
Year built
1950
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Brick
Roof type
Rubber
Listing Agency:
Chicago Real Estate Resources
(773) 327-9300
Listed By:
Tuyen Nguyen · License #471006001
(773) 327-9300
Added: Aug 4
Changed: Aug 6
Last Checked: Aug 9 at 6:06PM
MLS# 12724510
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 7737 S Kedzie Avenue in Chicago’s Ashburn neighborhood, this 5,000 SF freestanding brick auto shop was built in 1950. The building combines approximately 500 SF of office space with 4,500 SF of open work area, concrete flooring, a heated garage, and an employee bathroom with shower. Two new 10' overhead doors support vehicle access, while a rubber roof and natural gas availability are also in place.
Five rear parking spaces serve the property. The building is configured for automotive operations and includes a practical mix of office, work, access, and support areas. The property is located in Cook County, within ZIP code 60652.
Five rear parking spaces serve the property. The building is configured for automotive operations and includes a practical mix of office, work, access, and support areas. The property is located in Cook County, within ZIP code 60652.
Key Highlights
- 5,000 SF freestanding brick building constructed in 1950
- Approximately 500 SF of office space and 4,500 SF of open work area
- Two new 10' overhead doors and a heated garage
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
$31,355
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
5.70%
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%
$627,100
$627.1K
Cap Rate 7%
$447,929
$447.9K
Cap Rate 9%
$348,389
$348.4K
Market Conditions
NOI Build-Up for 5,000 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
$47.2K $9.43/SF
− Vacancy
−$2.4K −$0.47/SF
EGI
$44.8K $8.96/SF
− OpEx
−$13.4K −$2.69/SF
NOI
$31.4K $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%
$627,100
Cap Rate 7%
$447,929
Cap Rate 9%
$348,389
Alternative Uses
Best Use
Office B
$1.53M
$1.34M – $1.79M
NOI $107,280 @ 7.0% cap · market cap 19.51%
Second Best
Retail
$988.2K
$864.7K – $1.15M
NOI $69,174 @ 7.0% cap · market cap 12.58%
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M
NOI $165,024 @ 7.0% cap · market cap 30.00%
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
Well-served
Demand for This Use
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 Office in Chicago, IL
Questions? Ask Rey
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Similar Off Market Nearby
- Ernie's Glass — 3431 W Columbus Ave, Chicago, IL 60652
- CDE Collision Center-Columbus Ave. — 3555 W Columbus Ave, Chicago, IL 60652
- Gonzalez Body shop — 3431 W Columbus Ave, Chicago, IL 60652
- XL Towing & Storage, Inc. — 3565 W Columbus Ave, Chicago, IL 60652
- SAMMY'S BODY SHOP — 60652 773-424-3054, Chicago, IL 60652
Frequently Asked Questions
What type of property is this?
Auto shop - Brick commercial building with heated work area, overhead doors, and rear parking.
Where is this auto shop located?
The property is located at 7737 S KEDZIE Avenue 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: 5,000 SF freestanding brick building constructed in 1950; Approximately 500 SF of office space and 4,500 SF of open work area; Two new 10' overhead doors and a heated garage
