Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    9820 Ridgeland Ave Chicago Ridge, IL 60415

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    High-Yield Cannabis Dispensary, NNN Lease

    Property size:
    8,925 SF

    Property Features for 9820 Ridgeland Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    8,925 SF
    Lot Size
    41,600 SF

    Building Details

    Year Built/Renovated
    1988/2021
    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Christian Tremblay
    Christian Tremblay

    Listing Agency: Northmarq - Chicago Listing Agent: Christian Tremblay

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

    Learn more

    Property Insight Report

    Overview

    This exceptional investment opportunity presents a fee-simple interest in an 8,925 square foot, single-tenant retail property located at 9820 Ridgeland Ave, Chicago Ridge, IL 60415. The property, an outparcel of Chicago Ridge Mall, houses an ASCEND Wellness cannabis dispensary, operating under a 15-year absolute NNN lease (with a 5-year renewal option) commencing May 1, 2021, and expiring April 30, 2036. The lease includes annual rent bumps of 3.00% (base + options). The property boasts a strong 8.65% cap rate and a substantial net operating income (NOI) of $819,545. Built in 1988 and fully renovated in 2021, the property sits on a 0.955-acre lot with 46 parking spaces. The tenant, ASCEND Wellness (OTCQX: AAWH), is a publicly traded company providing a corporate guaranty. This investment offers exposure to the rapidly expanding cannabis industry, with the property benefiting from its location in a high-traffic retail corridor and excellent demographics within the Chicago metro area. The property is currently 100% occupied, offering immediate cash flow and long-term stability. This is a rare opportunity to acquire a high-performing asset in a burgeoning sector. The property features one building, one story, and is situated in Cook County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ascend Cannabis Dispensary ... (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago Ridge
    County
    Cook
    State
    Illinois
    Longitude
    -87.780138
    Latitude
    41.7143559

    Nearby Similar for Sale

    • $429,900
      2,500 SF

      Versatile Industrial Building in Chicago Ridge

      Immaculate, rehabbed industrial building suitable for warehouse, office, or retail.
      10333 Oxford Ave, Chicago Ridge, IL 60415
      View Details
    • New
      $2,500,000
      22,200 SF

      Chicago Ridge Industrial Facility

      22,200 SF industrial facility on 2.5 acres.
      6655 Kitty Ave, Chicago Ridge, IL 60415
      View Details
    • New
      $1,200,000
      5,000 SF

      Mixed-Use Property with Remodeled Bar

      Mixed-use property featuring a remodeled bar and spacious apartment.
      9999 Confidential Confidential Ave, Chicago Ridge, IL 60415
      View Details
    • Contact for pricing
      22,354 SF

      Freestanding Pep Boys Ground Lease

      Pep Boys ground lease with development potential in Chicago Ridge.
      10100 Ridgeland Ave, Chicago Ridge, IL 60415
      View Details
    • Contact for pricing
      900 SF

      Updated Condo with Modern Amenities

      Updated 2-bedroom condo with stainless steel appliances and in-unit laundry.
      7000 Oconnell Dr, Chicago Ridge, IL 60415
      View Details
    • Contact for pricing
      2,242 SF

      Remodeled Meineke in Chicago Ridge

      Single-tenant net lease property with strong operating history.
      6154 111Th St, Chicago Ridge, IL 60415
      View Details
    • Contact for pricing

      Chicago Ridge Condo with Garage

      Like-new one-bedroom condo with in-unit laundry and private garage.
      10620 S Central Ave, Chicago Ridge, IL 60415
      View Details
    • Contact for pricing
      8,925 SF

      Chicago Ridge Retail Investment Opportunity

      NNN leased retail property with long term tenant.
      9820 Ridgeland Ave, Chicago Ridge, IL 60415
      View Details
    • Contact for pricing
      3,065 SF

      Retail Property with Long-Term Lease

      Retail property with a new 15-year lease in place.
      6401 95Th St, Chicago Ridge, IL 60415
      View Details

    FAQs

    What type of property is this?
    Individual retail property - High-Yield Cannabis Dispensary, NNN Lease
    Where is this individual retail property located?
    The property is located at 9820 Ridgeland Ave Chicago Ridge, IL.
    What is the asking price?
    The asking price for this property is $9,474,500.
    What are key features of this property?
    This property features: Corporate guarantee from a publicly traded company.; New 15-year lease in place.; Absolute NNN lease structure.
    (312) 858-6725 Call to check price and availability
    Request Owner's contact information
    9820 Ridgeland Ave Chicago Ridge, IL 60415
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    9820 Ridgeland Ave
    Chicago Ridge, IL 60415
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    9820 Ridgeland Ave Chicago Ridge, IL 60415
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Christian Tremblay
    Christian Tremblay
    Real Estate License ID: 475165868
    (312) 858-6725 (201) 919-6148 (312) 240-0127
    Learn more
    Google sign-in failed. Please try again or use another login method.