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 Market20
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
(630) 209-8029
Listed By:
Beth Petri · License #475174514
Source:
Catoncommercial
Added: Aug 11
Changed: Aug 29
Last Checked: Aug 29 at 4:16PM
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 = 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
$142,460
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
