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    Prime Commercial Land in Morton Grove Title is generated by Realmo AI

    9021 Harlem Avenue, Morton Grove, IL 60053

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    For Sale
    $1,236,000

    COMMERCIAL - Morton Grove, IL

    Type:Retail
    Lot size:
    0.63 Acres
    Added:
    Jan 20, 2026
    Days on Market:
    116
    Last Refresh:
    May 16 at 7:06 pm

    Property Features for 9021 Harlem Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Zoning
    COMMR
    Standard status
    Active
    APN
    10183080010000
    Lot size
    0.63 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    26950

    Utilities

    Utilities
    Water Available

    Building Details

    Year built
    1960
    Floors in Building
    1
    Building materials
    Brick

    We can help!

    Listing Contact
    Marina Camenschi

    Listing agent Marina Camenschi

    Listing office HomeSmart Connect 150 E. Cook Ave Suite 104, Arlington Heights, IL

    Listing date Jan 20, 2026

    MLS# 12547133

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Premier, high‑traffic location in Morton Grove with exceptional dual‑street frontage and maximum visibility.
    • 14,560 sq ft land site zoned C‑2, allowing for significant flexibility and multiple redevelopment options.
    • Existing well‑established, actively operating auto repair shop provides immediate income potential.
    • Ample on‑site parking in a well‑established commercial corridor.
    • Redevelopment potential for retail, service, automotive, or mixed‑use concepts.
    • Business opportunity: Established auto repair shop with loyal customer base and turnkey operation.

    Overview

    This commercial property is located in a high-traffic area of Morton Grove, Illinois. The 14,560 square foot land site features dual-street frontage, offering visibility, traffic, and brand exposure. Situated in a commercial corridor, the property includes on-site parking. Zoned C-2, the site allows for redevelopment options, including continuing the existing operation, remodeling or expanding the current structure, adding a second level, or pursuing a full tear-down for complete redevelopment. The existing building is occupied by an auto repair shop with street presence, offering income potential while planning future improvements or redevelopment. The auto repair business has served the Morton Grove community for over 20 years and is known for reliable service with a loyal customer base. The shop is equipped to handle automotive services, from maintenance to repairs. The operation is profitable and turnkey, with financials available for qualified buyers upon execution of an NDA. The sale includes equipment, inventory, and established operational systems, and the current owner is willing to assist with a smooth transition. This commercial asset offers flexibility, income, and redevelopment potential for retail, service, automotive, or mixed-use concepts.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Michael Auto Clinic Auto Repair Shop

    Suggested Use

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

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

    Similar Places Nearby

    • Cassidy Tire and Service — 8733 N Harlem Ave, Niles, IL 60714
    • Michael Auto Clinic — 9021 Harlem Ave, Morton Grove, IL 60053
    • Kris Touhy Auto Inc. Morton Grove — 8801 N Waukegan Rd, Morton Grove, IL 60053
    • Napleton Honda of Morton Grove Service — 8833 Waukegan Rd, Morton Grove, IL 60053
    • Firestone Complete Auto Care — 7237 W Dempster St, Niles, IL 60714

    Location Insight

    • Map
    • Local Demand
    City
    Morton Grove
    County
    Cook
    State
    Illinois
    Longitude
    -87.805867
    Latitude
    42.0451738

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    FAQs

    What type of property is this?
    Auto shop - High-visibility commercial land with redevelopment potential in Morton Grove, IL.
    Where is this auto shop located?
    The property is located at 9021 Harlem Avenue Morton Grove, IL.
    What is the asking price?
    The asking price for this property is $1,236,000.
    What are key features of this property?
    This property features: Premier, high‑traffic location in Morton Grove with exceptional dual‑street frontage and maximum visibility.; 14,560 sq ft land site zoned C‑2, allowing for significant flexibility and multiple redevelopment options.; Existing well‑established, actively operating auto repair shop provides immediate income potential.
    (847) 495-5000
    We can help!
    Listing Contact
    Marina Camenschi
    Learn More
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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
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