Auto Shop Building with Rear
For Sale
$325,000
7828 S Claremont Avenue, Chicago, IL 60620
Brick auto shop building with owners office, two bathrooms, and rear parking for 15+ vehicles, zoned PMD.
Property Size4,400 SF
Price / SF$73.86
Days on Market113
Property Features for 7828 S Claremont Avenue
General Information
Standard status
Active
Size
4,400 SF
Property subtype
COMMERCIAL
Zoning
PMD 13
Taxes and HOA fees
Annual Taxes
$12,365
Amenities
Owner's Office
Bathrooms
Building Details
Year Built
1954
Buildings
1
Building Size
4,400 SF
Construction
brick
Owner Occupied
No
Listing Agency:
Infiniti Properties, Inc.
(708) 859-7846
Listed By:
Ned Malley · License #471007341
Source:
Dawnmckennagroup
Added: Apr 23
Changed: Aug 11
Last Checked: Aug 12 at 2:21PM
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.
Brick auto shop building offering approximately 4,400 SF and currently vacant for new owner use. The layout includes an owners office and two bathrooms, supported by a rear parking area designed for approximately 15+ vehicles.
The property is zoned PMD and is described as a multiple-use commercial building suitable for automobile-related businesses. Built in 1954, it presents an opportunity for an operator seeking a vehicle-oriented setup with on-site parking.
With its combination of office space and vehicle parking, the building can support automotive-focused operations in a single facility, while the PMD zoning provides flexibility for automobile-related business use.
The property is zoned PMD and is described as a multiple-use commercial building suitable for automobile-related businesses. Built in 1954, it presents an opportunity for an operator seeking a vehicle-oriented setup with on-site parking.
With its combination of office space and vehicle parking, the building can support automotive-focused operations in a single facility, while the PMD zoning provides flexibility for automobile-related business use.
Key Highlights
- Approximately 4,400 SF brick auto shop building
- Zoned PMD for automobile‑related business use
- Owners office plus 2 bathrooms
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
Office B
$1.35M
$1.18M – $1.57M
NOI $94,406 @ 7.0% cap · market cap 29.05%
Second Best
Retail
$869.6K
$760.9K – $1.01M
NOI $60,873 @ 7.0% cap · market cap 18.73%
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
Well-served
Demand for This Use
Explore this area
Business Placement
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 Office in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Brick auto shop building with owners office, two bathrooms, and rear parking for 15+ vehicles, zoned PMD.
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: Approximately 4,400 SF brick auto shop building; Zoned PMD for automobile‑related business use; Owners office plus 2 bathrooms
