Corner Storefront Retail
For Sale
$3,200,000
8324 Grand Avenue, River Grove, IL 60171
For sale retail storefront at the northeast corner of Marwood and Grand Avenue in Cook County.
Property Size16,000 SF
Days on Market62
Property Features for 8324 Grand Avenue
General Information
Standard status
Active
Size
16,000 SF
Zoning
MULTI
Net Operating Income
$226,960
Taxes and HOA fees
Annual Taxes
$12,778
Amenities
Central Air
Building Details
Building Size
16,000 SF
Year Built
1943
Stories
2
Listing Agency:
(847) 208-1397
Listed By:
Connie Dornan · License #475128119
(847) 208-1397
Source:
Evrealestate
Added: Jun 10
Changed: Aug 8
Last Checked: Aug 9 at 8:18AM
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 Connie Dornan
Investment Insights
Based on property information with market context.
This is a for-sale retail storefront property positioned on a corner lot at the northeast corner of Marwood and Grand Avenue. The available information describes it as a storefront retail site, suitable for a business that needs direct retail presence and frontage along a primary commercial avenue.
Access and directions are provided via Cumberland/Thatcher south to Grand Avenue, then one block east to the site. The property’s identified intersection placement at Marwood & Grand supports easy wayfinding for customers arriving from either direction on Grand Avenue and the intersecting roadway.
As a storefront retail asset, this property may fit tenants and buyers looking for an established retail setting on a corner location where visibility and customer approach matter. Interested parties should confirm the specific unit configuration and any site improvements in the course of due diligence, since those details are not included in the provided information.
Access and directions are provided via Cumberland/Thatcher south to Grand Avenue, then one block east to the site. The property’s identified intersection placement at Marwood & Grand supports easy wayfinding for customers arriving from either direction on Grand Avenue and the intersecting roadway.
As a storefront retail asset, this property may fit tenants and buyers looking for an established retail setting on a corner location where visibility and customer approach matter. Interested parties should confirm the specific unit configuration and any site improvements in the course of due diligence, since those details are not included in the provided information.
Key Highlights
- Retail storefront for sale at the northeast corner of Marwood and Grand Avenue (Cook County)
- Central air cooling
- Building year built: 1943
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
$222,083
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
6.94%
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%
$4,441,660
$4.4M
Cap Rate 7%
$3,172,614
$3.2M
Cap Rate 9%
$2,467,589
$2.5M
Market Conditions
NOI Build-Up for 16,000 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
$345.6K $21.60/SF
− Vacancy
−$28.3K −$1.77/SF
EGI
$317.3K $19.83/SF
− OpEx
−$95.2K −$5.95/SF
NOI
$222.1K $13.88/SF
Area
Cook County, IL
Vacancy
8.20%
Lease Rate
$21.60 /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%
$4,441,660
Cap Rate 7%
$3,172,614
Cap Rate 9%
$2,467,589
Alternative Uses
Best Use
Retail
$3.17M
$2.78M – $3.70M
NOI $222,083 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.52M
$4.83M – $6.44M
NOI $386,685 @ 7.0% cap · market cap 12.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
620
Businesses Nearby
83k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 34%
Apparel 29%
Dining 20%
Groceries 18%
Ross Dress for Less
Apparel
23,729 visits/mo
0.4 miles
Starbucks
Dining
16,281 visits/mo
0.1 miles
Binny's Beverage Depot
Groceries
15,017 visits/mo
0.5 miles
BP
Shops & Services
10,417 visits/mo
0.4 miles
dd's DISCOUNTS
Shops & Services
9,537 visits/mo
0.4 miles
Demographics for 60171, IL
10,612
Population
4,456
Households
2.4
Avg Household Size
40
Median Age
26%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
4,614
Density / Sq Mi
$74,793
Median Household Income
$43,696
Median Earnings
$1,230
Median Rent
$244,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Quasthoff's Flowers Inc — 8125 W Grand Ave, River Grove, IL 60171
Frequently Asked Questions
What type of property is this?
Storefront property - For sale retail storefront at the northeast corner of Marwood and Grand Avenue in Cook County.
Where is this storefront property located?
The property is located at 8324 Grand Avenue River Grove, IL.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Retail storefront for sale at the northeast corner of Marwood and Grand Avenue (Cook County); Central air cooling; Building year built: 1943
