Flexible-Use Flex
For Sale
$1,900,000
8527 Grand Ave, River Grove, IL 60171
The property accommodates a range of retail, industrial, office, manufacturing, and service-oriented operations.
Property Size13,529 SF
Days on Market65
Property Features for 8527 Grand Ave
General Information
Standard status
Active
Size
13,529 SF
Property subtype
Industrial
Building Details
Building Size
13,529 SF
Year Built
1950
Listing Agency:
Caton Commercial
Listed By:
Beth Petri · License #475174514
(630) 209-8029
Source:
Catoncommercial
Added: Aug 11
Changed: Oct 13
Last Checked: Oct 12 at 6:08PM
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 Caton Commercial
Investment Insights
Based on property information with market context.
This flex space at 8527 Grand Ave in River Grove, Illinois, was built in 1950 and is positioned for multiple commercial applications. Potential uses identified for the property include retail, industrial, light manufacturing, office, and service operations.
Key Highlights
- Flex space at 8527 Grand Ave, River Grove, IL 60171
- Built in 1950
- Use potential includes retail, industrial, light manufacturing, office, and service operations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$142,460
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,849,200
$2.8M
Cap Rate 7%
$2,035,143
$2.0M
Cap Rate 9%
$1,582,889
$1.6M
Market Conditions
NOI Build-Up for 13,529 SF
Gross rent
$243.5K $18.00/SF
− Vacancy
−$24.4K −$1.80/SF
EGI
$219.2K $16.20/SF
− OpEx
−$76.7K −$5.67/SF
NOI
$142.5K $10.53/SF
Area
Cook County, IL
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,849,200
Cap Rate 7%
$2,035,143
Cap Rate 9%
$1,582,889
Alternative Uses
Best Use
Flex RnD
$2.04M
$1.78M – $2.37M
NOI $142,460 @ 7.0% cap · market cap 7.50%
Second Best
Industrial
$832.0K
$728.0K – $970.6K
NOI $58,238 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$4.67M
$4.09M – $5.45M
NOI $326,966 @ 7.0% cap · market cap 17.21%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
616
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Similar Off Market Nearby
- Lil Nana’s Catering — 8039 Grand Ave, River Grove, IL 60171
- Restaurante EL COLIBRÍ — 8236 W Belmont Ave, Chicago, IL 60634
Frequently Asked Questions
What type of property is this?
Flex space - The property accommodates a range of retail, industrial, office, manufacturing, and service-oriented operations.
Where is this flex space located?
The property is located at 8527 Grand Ave River Grove, IL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Flex space at 8527 Grand Ave, River Grove, IL 60171; Built in 1950; Use potential includes retail, industrial, light manufacturing, office, and service operations
