Brick Auto Shop
For Sale
$325,000
7828 S Claremont Avenue, Chicago, IL 60620
Vacant commercial space with PMD zoning, an office, two bathrooms, and rear vehicle parking.
Property Size4,400 SF
Price / SF$73.86
Days on Market131
Property Features for 7828 S Claremont Avenue
General Information
Standard status
Active
Size
4,400 SF
Property subtype
Commercial
Zoning
PMD
Taxes and HOA fees
Annual Taxes
$12,365
Amenities
Owners Office
Bathroom(s)
Building Details
Year Built
1954
Buildings
1
Stories
1
Units
1
Construction
brick
Listing Agency:
Infiniti Properties, Inc.
(708) 206-3000
Listed By:
Ned Malley · License #471007341
(708) 206-3000
Source:
Perillorealestategroup
Added: Apr 23
Changed: Aug 29
Last Checked: Aug 30 at 5:41PM
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 Infiniti Properties, Inc.
Investment Insights
Based on property information with market context.
This 4,400-square-foot brick auto shop building is currently vacant and was built in 1954. The layout includes an owner’s office and two bathrooms, providing basic administrative and service-area support within the existing structure.
PMD zoning is identified for automobile-related businesses. Rear parking accommodates approximately 15+ vehicles, adding on-site capacity for staff, customers, or vehicles associated with operations. The property is located at 7828 S Claremont Avenue in Chicago, Illinois.
PMD zoning is identified for automobile-related businesses. Rear parking accommodates approximately 15+ vehicles, adding on-site capacity for staff, customers, or vehicles associated with operations. The property is located at 7828 S Claremont Avenue in Chicago, Illinois.
Key Highlights
- 4,400‑square‑foot brick building constructed in 1954
- PMD zoning identified for automobile‑related businesses
- Currently vacant for a new owner’s use
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
$27,592
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
8.49%
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%
$551,840
$551.8K
Cap Rate 7%
$394,171
$394.2K
Cap Rate 9%
$306,578
$306.6K
Market Conditions
NOI Build-Up for 4,400 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
$41.5K $9.43/SF
− Vacancy
−$2.1K −$0.47/SF
EGI
$39.4K $8.96/SF
− OpEx
−$11.8K −$2.69/SF
NOI
$27.6K $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%
$551,840
Cap Rate 7%
$394,171
Cap Rate 9%
$306,578
Alternative Uses
Best Use
Retail
$869.6K
$760.9K – $1.01M
NOI $60,873 @ 7.0% cap · market cap 18.73%
Second Best
Industrial
$394.2K
$344.9K – $459.9K
NOI $27,592 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$2.07M
$1.82M – $2.42M
NOI $145,221 @ 7.0% cap · market cap 44.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
645
Businesses Nearby
86k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 55%
Dining 45%
Dollar Tree
Shops & Services
18,914 visits/mo
0.1 miles
McDonald's
Dining
18,388 visits/mo
0.1 miles
Citgo
Shops & Services
13,010 visits/mo
0.5 miles
Dunkin' Donuts
Dining
9,303 visits/mo
0.1 miles
Marathon
Shops & Services
8,354 visits/mo
0.1 miles
Demographics for 60620, IL
66,514
Population
30,008
Households
2.2
Avg Household Size
41
Median Age
20%
College-Educated
88%
High-School Grad
7.0 sq mi
ZIP Area
9,502
Density / Sq Mi
$48,805
Median Household Income
$36,285
Median Earnings
$1,093
Median Rent
$187,900
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Vacant commercial space with PMD zoning, an office, two bathrooms, and rear vehicle parking.
Where is this auto shop located?
The property is located at 7828 S Claremont Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 4,400‑square‑foot brick building constructed in 1954; PMD zoning identified for automobile‑related businesses; Currently vacant for a new owner’s use
