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    7777 Lake St River Forest, IL 60305

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    For Lease
    Contact for pricing

    Prime location, multiple suites available

    Lot size:
    17,000 SF

    Property Features for 7777 Lake St

    General Information

    Property type
    Retail space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    17,000 SF
    Class
    C
    Total Rate
    25500

    Building Details

    Year Built
    1940
    Buildings
    1
    Stories
    2

    Spaces For Lease

    at 7777 Lake St, River Forest, IL 60305 Contact us
    Unit Suite 100

    $21 /Mo

    Size
    465 SF
    Contact us
    Unit Suite 108/110

    $18 /Mo

    Size
    850 SF
    Contact us
    Unit Suite 102

    $18 /Mo

    Size
    1,250 SF
    Contact us
    Unit Suite 113

    $18 /Mo

    Size
    480 SF
    Contact us
    Unit Suite 114A

    $18 /Mo

    Size
    850 SF
    Contact us
    Unit Suite 114B

    $18 /Mo

    Size
    480 SF
    Contact us
    Unit Suite 116

    $18 /Mo

    Size
    780 SF
    Contact us
    Unit Suite 200

    $18 /Mo

    Size
    780 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Olivia Wirth
    Olivia Wirth

    Listing Agent: Olivia Wirth

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional River Forest property at 7777 Lake St, offers 17,000 square feet of versatile space across 20 suites in a two-story, Class C building constructed in 1940. The property, situated on a 0.45-acre lot, is zoned C3 and features a mix of retail, traditional office, medical office, and executive office spaces available for lease. Its prime location in Cook County, IL (zip code 60305) provides excellent access to public transportation, including the Harlem/Lake Green Line "el" station, River Forest and Oak Park Metra stations. Major roadways such as I-290, I-294, Illinois Route 43, and Illinois Route 64 are also easily accessible. The building benefits from its proximity to the vibrant downtown River Forest shopping district (one mile west), Lincoln Elementary School (across the street), and two universities (Dominican and Concordia) with a combined student population of approximately 8,200. Current retail tenants include Edward Jones Investments and River Forest Dry Cleaners & Tailoring, creating a strong established commercial presence. This presents a unique opportunity for businesses seeking a well-connected location within a thriving community just 11 miles west of downtown Chicago.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Icap Social Service Agency Soppet Stephen E ... Dental Office Lee Clara w ... Dental Office BEactive bodyTherapies Alternative Medicine Practice Frank Aievoli American ... Insurance Agency

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    River Forest
    County
    Cook
    State
    Illinois
    Longitude
    -87.818999384686
    Latitude
    41.888269677672

    Nearby Similar for Lease

    • $18 SF/Yr

      River Forest Suites For Lease

      Office, medical office, and retail suites available for lease.
      7777 Lake St, River Forest, IL 60305
      View Details
    • Contact for pricing
      4,042 SF

      Retail Space Near Transportation Hubs

      Retail space near CTA and Metra stations with planned residential growth.
      7231 Lake St, River Forest, IL 60305
      View Details

    FAQs

    What type of property is this?
    Retail space - Prime location, multiple suites available
    Where is this retail space located?
    The property is located at 7777 Lake St River Forest, IL.
    What is the lease rate?
    The lease rate is $18-$21 SF/Yr.
    What are key features of this property?
    This property features: 17,000 SF multi-tenant building with a mix of office, medical, and retail suites available for lease.; On-site surface parking and ample street parking.; Excellent public transportation access via the Harlem/Lake Green Line "L" station, and nearby River Forest and Oak Park Metra stations.
    (312) 770-0119 Call to check price and availability
    Request Owner's contact information
    7777 Lake St River Forest, IL 60305
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    River Forest, IL 60305
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7777 Lake St River Forest, IL 60305
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Olivia Wirth
    Olivia Wirth
    Real Estate License ID: #475.161032
    (312) 770-0119
    Learn more
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