Add Listing
    For Lease
    • 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

    13053-13081 Ashland Ave Calumet Park, IL 60827

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Calumet Park Retail Space Available

    Lot size:
    31,540 SF

    Property Features for 13053-13081 Ashland Ave

    General Information

    Property type
    Lifestyle centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    31,540 SF
    Total Rate
    26283.33

    Building Details

    Year Built
    2012

    Spaces For Lease

    at 13053-13081 Ashland Ave, Calumet Park, IL 60827 Contact us
    Unit Available Space

    $14 /Mo

    Size
    4,000 SF
    Contact us
    Unit Available Space

    $14 /Mo

    Size
    4,000 SF
    Contact us
    Unit Available Space

    $14 /Mo

    Size
    3,600 SF
    Contact us
    Unit Available Space

    $14 /Mo

    Size
    11,970 SF
    Contact us

    We can help!

    Listing Contact
    Terri J. Cox
    Terri J. Cox

    Listing Agency: Matanky Realty Group Listing Agent: Terri J. Cox

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

    Learn more

    Overview

    Raceway Park Shopping Center, located at 13053-13081 S Ashland Ave in Calumet Park, IL 60827, presents a prime redevelopment opportunity. This ALDI-anchored community retail center offers multiple spaces for lease, totaling 31,540 square feet. Currently, 19,570 square feet are vacant, providing significant potential for new tenants. Individual spaces range from a minimum of 3,600 square feet to a maximum contiguous space of 11,970 square feet, offering flexibility for various retail businesses. The center was built in 2012 and is situated in Cook County, Illinois. Its convenient location off Ashland Avenue provides excellent visibility and accessibility for customers. This is an exceptional chance to establish a presence in a thriving community retail environment. The property's size and layout offer a unique opportunity for businesses seeking a prominent location within a well-established shopping center. The existing ALDI anchor tenant provides a strong foundation for future growth and increased foot traffic. This is an ideal location for businesses looking to capitalize on the existing customer base and the potential for further development. The available space allows for customization to suit the needs of various retail concepts. Don't miss this chance to secure a space in this vibrant and growing community.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Calumet Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.6589789
    Latitude
    41.6569683

    Nearby Similar for Lease

    • $20 SF/Yr
      1,180 SF

      Retail Space Near I-57

      Retail space in a densely populated business and shopping district.
      1413 W 127Th St, Calumet Park, IL 60827
      View Details
    • $10 SF/Yr
      3,600 SF

      Retail Space with I-57 Visibility

      Retail space in community center visible from I-57.
      13053-13085 S Ashland Ave, Calumet Park, IL 60620
      View Details
    • $27 SF/Yr
      8,000 SF

      Calumet Park Retail Space Available

      8,000 SF retail space for rent in Calumet Park.
      11900 S Marshfield Ave, Calumet Park, IL 60827
      View Details
    • $10 SF/Yr
      86,310 SF

      Raceway Park Retail Center - Calumet Park

      High-visibility retail space, Cook County, IL.
      13001 Ashland Ave, Calumet Park, IL 60827
      View Details

    FAQs

    What type of property is this?
    Lifestyle center - Calumet Park Retail Space Available
    Where is this lifestyle center located?
    The property is located at 13053-13081 Ashland Ave Calumet Park, IL.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: High visibility from I-57, boasting 113,800 vehicles per day.; Excellent location, neighboring Planet Fitness and Rainbow.; Rent is negotiable.
    (312) 337-1001 Call to check price and availability
    Request Owner's contact information
    13053-13081 Ashland Ave Calumet Park, IL 60827
    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.
    13053-13081 Ashland Ave
    Calumet Park, IL 60827
    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
    13053-13081 Ashland Ave Calumet Park, IL 60827
    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 Terri J. Cox
    Terri J. Cox
    Real Estate License ID: 4710003588
    (312) 337-1001 (773) 517-9740
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!