Lincoln Highway Commercial
For Sale
$510,000
7825 W Lincoln Highway, Frankfort, IL 60423
Land parcel with an existing structure and access to established transportation routes near downtown Frankfort.
Property Size4,050 SF
Days on Market37
Property Features for 7825 W Lincoln Highway
General Information
Standard status
Active
Size
4,050 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,556
Building Details
Building Size
4,050 SF
Year Built
1975
Stories
1
Units
1
Listing Agency:
Luna Realty Group
(773) 403-1123
Listed By:
Noemi Ochoa · License #475204596
Source:
Jjillrealtygroup
Added: Jul 25
Changed: Aug 29
Last Checked: Aug 29 at 11:23PM
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 Luna Realty Group
Investment Insights
Based on property information with market context.
This commercial land parcel includes an existing structure built in 1975 that may be demolished. The property is positioned for future development and is described as suitable for residential, commercial, or mixed-use projects.
The site is located on Lincoln Highway in Frankfort, near downtown, I-80, and La Grange Road. The property also offers ingress and egress and frontage along Lincoln Highway, providing access to established transportation corridors.
The site is located on Lincoln Highway in Frankfort, near downtown, I-80, and La Grange Road. The property also offers ingress and egress and frontage along Lincoln Highway, providing access to established transportation corridors.
Key Highlights
- Commercial land on Lincoln Highway
- Existing 1975 structure that can be demolished
- Residential, commercial, or mixed‑use development potential
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
$38,273
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
7.50%
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%
$765,460
$765.5K
Cap Rate 7%
$546,757
$546.8K
Cap Rate 9%
$425,256
$425.3K
Market Conditions
NOI Build-Up for 4,050 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
$60.8K $15.00/SF
− Vacancy
−$6.1K −$1.50/SF
EGI
$54.7K $13.50/SF
− OpEx
−$16.4K −$4.05/SF
NOI
$38.3K $9.45/SF
Area
Will County, IL
Vacancy
10.00%
Lease Rate
$15.00 /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%
$765,460
Cap Rate 7%
$546,757
Cap Rate 9%
$425,256
Alternative Uses
Best Use
Retail
$546.8K
$478.4K – $637.9K
NOI $38,273 @ 7.0% cap · market cap 7.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$918.5K
$803.7K – $1.07M
NOI $64,298 @ 7.0% cap · market cap 12.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
16k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Shell
Shops & Services
10,301 visits/mo
0.2 miles
Circle K
Shops & Services
3,232 visits/mo
0.2 miles
Valvoline Instant Oil Change
Shops & Services
2,212 visits/mo
0.1 miles
Demographics for 60423, IL
32,784
Population
11,494
Households
2.9
Avg Household Size
42
Median Age
48%
College-Educated
97%
High-School Grad
37.9 sq mi
ZIP Area
865
Density / Sq Mi
$137,651
Median Household Income
$63,686
Median Earnings
$1,455
Median Rent
$376,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Land parcel with an existing structure and access to established transportation routes near downtown Frankfort.
Where is this commercial land located?
The property is located at 7825 W Lincoln Highway Frankfort, IL.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Commercial land on Lincoln Highway; Existing 1975 structure that can be demolished; Residential, commercial, or mixed‑use development potential
